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PlayTown
Founder's Pitch Retail Sophisticated
Overview Financial Model Revenue Buildup Scenario Derivation IPO Basis Beyond Rawang
Data room · Investor derivation layer · Rawang, Selangor

Every ringgit in the model, traced to a facility.

Rawang venue revenue: RM 1.58m Y1 (FY2028) → RM 6.7m Y7 peak (Y7 = Facility RM 4.9m admission + Other RM 1.77m F&B/retail), decomposed into ten streams. (Group revenue is larger — Y7 RM 10.73m across four engines; this page covers the Rawang portion only.) Each card shows the physical maximum — ticket price × hours × days × capacity, a ceiling not a target — with a slider to test your own utilisation assumption.

The question this page answers "Are you being over-optimistic, or fair?"
Locked pricing & operating windows

The Mar-2026 price list is the input, not a guess.

Source: ticketing price list dated 04-March-2026, excl. 6% SST. Peak = Fri/Sat/Sun/PH/school holidays (≈ 120 days/yr); off-peak = Mon–Thu.

Pricing & operating windows 04-Mar-2026 · locked

Mini Football (7v7)RM 85/hr off-peak · RM 130/hr peak · 1 pitch Y1–Y2, 2 pitches Y3+
Pickleball (5 courts)RM 25/hr off-peak · RM 40/hr peak
Splash (Wet)RM 30 off-peak · RM 38 peak · 2hr session, 3/day, 280 pax/session cap
Outdoor (Dry)RM 18 off-peak · RM 24 peak · 3hr session, no re-entry
Indoor SoftplayRM 23 off-peak · RM 28 peak · 3hr session
All-Parks ComboRM 79 off-peak · RM 99 peak · unlimited hours, re-entry, any Splash session
Community courtRM 5 off-peak · RM 8 peak per day
Retail (7 units)RM 4,500/month per unit · sub-let starts Y3
Gerais (8 units)RM 800–1,200/month base rent · plus GTO share on tenant F&B sales · sub-let starts Y1
Operating days~350/yr park · ~300/yr Splash (weather)
Free adults1 free adult per paying child ticket
Facility-by-facility · sorted by revenue share

Ten revenue streams. Each with capacity math.

Drag any slider to test that facility at your own utilisation. The model's projection is highlighted; the headroom line shows capacity untouched at Y7 peak.

Aggregate check — ten Rawang streams sum exactly to the Rawang line.

The ten streams reproduce the model's Rawang gross revenue line to zero error. (Royalty, events and Sites 4–6 are traced in separate views.)

Year 1 · Launch
RM 1.58m
Rawang gross · sum of 10 streams
Year 5 · Ramp
RM 6.28m
Rawang gross · multi-facility ramp
Year 7 · Peak
RM 6.7m
Rawang gross · full seasoning
Year 12 · Taper
RM 3.92m
Rawang gross · facility age modelled
12-yr Cumulative
RM 56.4m
Rawang gross · consolidated total RM 103m
12-yr EBITDA (Rawang)
RM 25.1m
44.6% margin on Rawang gross
Reconciliation ✓ — the 10 facility-level streams above sum exactly to the standalone model's Total Gross Revenue line: Y1 RM 1,575,362 · Y7 RM 6,669,946 · Y12 RM 3,916,192. Source: PlayTown Ventures Financial Model v2.1 (Oct 2026; Y1 = FY2028, Y5 = FY2032).

Top-down cross-check — catchment × capture × ARPU lands on the same RM 6.7m.

Bottom-up (ten streams) and top-down (catchment maths) arrive within rounding of each other.

Rawang Y7 venue revenue ~RM 6.7M = Facility RM 4.9M (admission) + Other RM 1.77M (F&B + retail). ARPU breakdown RM 29 + RM 7 + RM 4 = RM 40 blended per visit — the RM 29 admission maps to Facility, the RM 11 F&B/retail to Other. The catchment math ties to the venue total, not facility-only.

Families · 30-min drive
130,000
~600k people (DOSM 2020) ÷ 3.2 household × ~70% with children
Family capture
20%
= 26,000 families · below destination-park benchmarks
Person-visits / year
166,000
26,000 × 2.0 visits/yr × 3.2 headcount
Blended ARPU per visit
RM 40
admission RM 29 + F&B RM 7 + retail RM 4
Cross-check
RM 6.7m
RM 40 × 166k ≈ Y7 Rawang venue revenue · ties to model
Benchmarks · capture
20–65%
Sunway ~25% · Lost World ~65% · Legoland ~25–30% · Berjaya TP ~20%
RM 29
Admission
+
RM 7
F&B
+
RM 4
Retail
=
RM 40
Blended ARPU per visit
Disclosure — ARPU = Average Revenue Per User. ~20% family capture ≈ ~19% of the ~RM 35m primary SOM in revenue terms (~7% of the ~RM 95m combined SOM incl. the ~RM 60m accessible 45–90-min Klang Valley reach). Catchment, capture and ARPU are derived from the Issuer's internal catchment model on DOSM public data, not independently verified; benchmarks are Issuer-compiled approximations from operator filings and press (pre-pandemic baselines where available). Indicative only; should not be solely relied upon.

Verdict on the projection posture

No line is projected at its physical maximum. At Y7 peak the streams sit at 15–88% of ceiling; the throughput zones run at 30–50% of what mature capacity could deliver. Only the two sub-let lines approach their envelope — occupancy-based, with a finite ceiling (7 units × RM 4.5k; 8 gerais × RM 800–1,200 + GTO).

StreamShare of RawangY7 utilisation vs ceiling%
Wet & Dry Park53.0%
21%
Food & Beverages10.2%
54%
Indoor Soft Playground10.1%
15%
Mini Football (2 pitches Y3+)7.0%
52%
Retail Tenants · 7 units (sub-let)5.4%
85%
Pickleball · 5 courts4.5%
43%
Sub-let 8 Gerais4.5%
88%
Merchandise3.6%
40%
Kids Ride Rentals1.2%
10%
Community Court0.6%
51%

A fair projection — no sold-out days at any zone, with growth headroom preserved for multi-site expansion.

← Baseline
Financial Model (live sliders)
Drag the operating levers on the standalone model. Every number you see here traces back.
Companion →
Scenario Derivation
How Bear, Bear+, Base and Stretch are built as lever changes on the same model.
Companion →
IPO Valuation Basis
Bursa FEC comparables, P/E waterfall — why RM 40m at ACE Y5 / FY2032 (13.4× on core PAT RM 2.98m) and RM 75m at Y7.
Full brief →
Sophisticated Investor Brief
The four scenarios and the IPO Math calculator built on top of this baseline.
PlayTown Rawang · Investor Data Room
Prepared by PlayTown Ventures Sdn Bhd · Model version: PlayTown Ventures Financial Model v2.1 (Oct 2026; Y1 = FY2028, Y5 = FY2032)
Pricing source: Ticketing Price List dated 04-March-2026 · Prices exclude 6% SST

Contact ken@playtown.my · Investor relations esther@playtown.my