13 Sep – Malaysian's Golden Screen Cinemas (GSC) is set to be sold by local billionaire, Robert Kuok, who controls PBB Group Bhd, the Kuala Lumpur-listed company the cinema is currently under.
It is possible that deal could fetch as much as 500 million dollars, according to Bloomberg, whose unnamed sources also revealed that first-round bids are already being received by the conglomerate for the cinema business.
GSC had no comment upon being contacted by Cinema Online at the time of writing.
GSC has a total of 345 screens in Malaysia and Vietnam, and targets to open its first cinema in Cambodia by the first half of 2017.
Kuok controls PBB Group Bhd through his holding company Kuok Brothers Sdn, which holds 50.8 percent of the diversified conglomerate's share. After its grains and agribusiness operations, the film exhibition and distribution division is the conglomerate's biggest contributor, having generated RM65.6 million last year.
(Photo source: GSC website)