GSC owner optimistic of recovery, targets to introduce 50 new screens

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KUALA LUMPUR: PPB Group Bhd (PPB), the owner of Golden Screen Cinemas Sdn Bhd (GSC) is optimistic that lifting of motion controls, leisure of social restrictions and a robust line-up of film blockbusters would enhance cinema admissions.

In the group’s 2021 annual report filed with Bursa Malaysia as we speak, the group anticipates its movie exhibition and distribution section to ship higher monetary outcomes on a year-on-year foundation because the restoration momentum picks up in 2022.

PPB managing director Lim Soon Huat stated the group has outlined a number of improvement plans for the 12 months, such because the GSC Rewards programme to drive admissions in addition to retain and entice new cinemagoers whereas concurrently constructing buyer loyalty.

“We are launching eight BIG cinema halls to present a greater immersive expertise, and opening not less than two Happy Food Co shops in the course of the 12 months.

“GSC additionally targets to introduce new cinemas in Bintulu, Johor, Kuala Lumpur, and Putrajaya, with a complete of 50 new screens,” he stated.

In September 2021, GSC accomplished the acquisition of 18 cinema belongings from MCAT Box Office Sdn Bhd and Reel Entertainment Holdings Sdn Bhd, rising its home market share to greater than 50 per cent.

The PPB group’s diversified companies embody agribusiness, shopper merchandise, property improvement, environmental engineering and utilities.

Lim stated the group is optimistic that its utilities section will see a gentle restoration in 2022 with the relief of social restrictions and recovering markets.

“We now qualify to take part in authorities tenders as a most important contractor for water and sewage initiatives, and the market has recognised us as a succesful infrastructure works contractor, thus opening extra alternatives for the group.

“The group’s subsidiary, Chemquest Sdn Bhd (CQ) has tendered for water initiatives in Malaysia and Brunei price RM400 million and can proceed to concentrate on alternatives in water, sewage and infrastructure initiatives,” he added.

(*50*) 12 months, CQ accomplished two water therapy vegetation in Johor and Sarawak price RM87 million and secured three water initiatives in Sarawak, Johor and Kedah price RM212 million; bringing its order e book to a complete of RM360 million as of Dec 31, 2021.

As for its funding properties and property improvement section, PPB stated its Megah Rise residential building is nearing completion by the second quarter of 2022 (Q2 2022), including that it’s specializing in the retail mall’s scheduled opening in This autumn 2022.

“The administration can also be reviewing potential new developments in Penang and Bedong, Kedah,” Lim added.

As for the grains and agribusiness section, PPB forecasts margin pressures to persist due to the risky commodity market costs and excessive freight prices in 2022, noting that the section skilled a decline due to the unprecedented excessive uncooked materials prices due to world provide shocks and provide chain disruptions.

“We are dedicated to optimising operational efficiencies by way of our group’s in depth grain procurement expertise and technical competency to mitigate the influence of rising uncooked supplies and working prices,” he stated. – Bernama



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