Les' Copaque Production Sdn Bhd intends to build a theme park in Cyberjaya based on the popular animated series Upin & Ipin by 2024/2025.
The company has signed a memorandum of understanding (MoU) with Cyberview Sdn Bhd, the tech hub developer of Cyberjaya, to explore the theme park's potential development.
A 30-acre plot of land has been identified as a potential site for the theme park in the city's South Zone, the companies said in a joint statement.
Les' Copaque production managing director Burhanuddin Md Radzi said the theme park, a locally produced brand, would be on par with international theme parks.
"Upin & Ipin will not only attract Malaysians but the whole of Southeast Asia, more so the lifelong fans in Indonesia. This will directly help boost the tourism and manufacturing industries," he said.
Burhanuddin had previously rejected a 2012 offer for an Upin & Ipin theme park built on a 42-acre plot of land in Ipoh, Perak, where the Movie Animation Park Studios (MAPS) is located.
He said that Ipoh was not an ideal destination for foreign visitors.
"Since we have a small population, you need to attract foreign visitors to patronise your theme park. From KLIA you need to travel about three hours and from Penang about two hours. It is so inconvenient for tourists," he said.
Burhanuddin said a local IP (intellectual property) theme park would fare better than a foreign one that would be prohibitively expensive to operate.
He mentioned that foreign theme parks were gradually losing their appeal, referring to the Angry Bird Activity Park and the Sanrio Hello Kitty Town in Iskandar Puteri, Johor.
The disadvantage of having a foreign IP is that you can't simply change the content because you need the permission of the IP owners, he explained.
Burhanuddin revealed new plans for an Upin & Ipin theme park in 2018.
He estimated that the theme park would cost between RM700 million and RM1 billion but added that he did not have enough funds to proceed with the project at the time.
In 2020, Burhanuddin announced that a suitable location had been identified in Iskandar Puteri, the exact location as the Sanrio Hello Kitty Town, which closed earlier in the year.
"Hopefully it will be operational in January 2023," he said.