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Re: [sharechat] Aquaria 21

From: "Frater Williams & Co. Ltd" <>
Date: Thu, 05 Aug 1999 20:59:45 +1200


A few points about some of your comments made in regard to Aquaria 21. The
successful investors in the company have been in from day one based on the
potential of the aquarium business. None have bought in since the aquarium
was completed (which is an important point!). The article you refer to in
the Sunday Star Times was factually incorrect in several places but the
number you refer to is profit, not revenue and is based on a full years
trading. The revenue number is more than $25m. You are correct, the Seoul
site is on premium land and it was a masterful stroke to buy during the
Asian crisis. The listing in China you mention is only talk at this stage
and has not been discussed in detail. A more likely eventuality could be a
Hong Kong listing on their second board. Finally, yes, the visitor numbers
are building up nicely however it will be 2000 before we get an indication
of the real profitability of the Shanghai Aquarium. To get a comparison,
you might want to note the numbers going through Richina's Blue Zoo
aquarium in Beijing. Hope this helps

Rowan, Frater Williams 

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