12 May – Golden Screen Cinemas (GSC) Sdn Bhd is planning to venture into Myanmar and Laos next in order to further expand its reach into the regional film market.
Currently, GSC, which recently celebrated its 30th anniversary, has more than 300 screens across Malaysia and Vietnam.
It is already expanding into Cambodia next, where it will open the first GSC-branded cinema outside of Malaysia.
The next step for the expanding company will naturally be to tap into the neighbouring markets in the region, namely those that already has GSC's presence in the country.
The distribution arm of the company, GSC Movies Sdn Bhd, at the moment has a strong presence not only in Malaysia, Vietnam and Cambodia, but also Brunei, Laos and Myanmar, hence the reason why GSC is targeting these markets as its next potential locations.
The plan was laid out by GSC CEO Ms. Koh Mei Lee during a recent The Edge Markets interview, where she revealed that they are looking for "opportunities" to venture into the aforementioned two territories.
No further details were revealed regarding the expansion, though it might only go into action once GSC has successfully rolled out its plan for the year, which includes opening another 6 cinemas in Vietnam, which are operated in partnership with Galaxy Studio.
2017 will also see the opening of MyTown KL and Melawati Mall in Malaysia, as well as the return of GSC to Johor with GSC Paradigm Johor.
The wholly owned subsidiary of PPB Group (a member of the Kuok Group) late last year made headlines when it was reported to be up for sale by local billionaire, Robert Kuok. However, PBB Group has dispelled the speculation back in March, saying that it is looking to expand its cinema business instead.