Conglomerate PPB Group Bhd's shares slipped in the morning session today on news that it plans to sell its cinema arm, Golden Screen Cinemas (GSC) Sdn Bhd.
The Group's share price fell four sen to RM16.16, with 284,200 traded.
It was reported that Robert Kuok, who controls 50.8 percent of PPB Group through his holding company, Kuok Brothers Sdn Bhd, is seeking a potential buyer for its cinema business.
He is expected to clinch as much as US$500 million through the deal and has received first-round bids for the cinema business.
PPB Group's film exhibition and distribution division has generated a profit of RM65.6 million (US$16 million) last year, making it the second major contributor after the grain and agribusiness segment.
PPB Leisure Holdings Sdn Bhd, the leisure and entertainment arm of PPB Group, owns an entire equity interest in GSC.
GSC Group operates a total of 345 digital screens at 40 locations across Malaysia and Vietnam.
It has a joint-venture partnership with Galaxy Studio which has 39 screens in seven locations in Vietnam. -- Bernama
Bernama
Tue Sep 13 2016
Robert Kuok is expected to clinch as much as US$500 million through the deal. - File Photo
AWANI Tonight: 23rd April 2024
#AWANITonight with Hafiz Marzukhi
- Ten killed after Navy helicopters collide mid-air
- Tensions flare at U.S. universities over Gaza protests
#AWANIenglish #AWANInews
- Ten killed after Navy helicopters collide mid-air
- Tensions flare at U.S. universities over Gaza protests
#AWANIenglish #AWANInews
10 Berita Pilihan - (23 April 2024)
Antara pelbagai berita dalam dan luar negara yang disiarkan di Astro AWANI, berikut adalah yang paling menjadi tumpuan sepanjang hari ini.
Buletin AWANI Khas: Siasatan nahas helikopter TLDM, apa perlu kita tahu?
AWANI Ringkas: Jasad Joseph Kurup selamat dikebumikan
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
AWANI Tonight: Tensions flare at U.S. universities over Gaza protests
Protests against Israel’s assault on Gaza have spread from Columbia and Yale to other universities in the U.S. as officials scramble to defuse a growing protest movement.
Helikopter AW139 kali pertama digunakan untuk lintas hormat - Mohamed Khaled
Datuk Seri Mohamed Khaled Nordin berkata helikopter Skuadron 503 berpangkalan di Kota Kinabalu, Sabah itu mula digunakan sejak 2021.
AWANI Tonight: Is global net zero target in jeopardy?
The Energy Industries Council (EIC) highlights the widening gap between the industry's current reality and the ambitious global net zero targets set by policymakers to be achieved by 2050 as well as what it takes to fulfil the commitment.
Nahas helikopter Lumut: Baju raya terakhir ibu jadi kenangan buat anak kembar
Kenangan bersama ibu mereka, Bintara Muda TNL Nor Rahiza Anuar, 39, tidak akan pernah luput dari ingatan.
AWANI 7:45 [23/04/2024] – Ditukar kepada majlis tahlil dan doa | Tujuh lelaki dan tiga wanita | Desakan semakin kuat
Laporan berita padat dan ringkas #AWANI745 bersama Nickyson Nyambar
Tumpuan #AWANI745 malam ini:
- Perginya perajurit negara, sambutan Ulang Tahun ke-90 TLDM dibatalkan
- Perkembangan terkini pasca nahas helikopter TLDM
- Kuasa-kuasa besar lobi Turki, hentikan Misi Flotila
#AWANInews
Tumpuan #AWANI745 malam ini:
- Perginya perajurit negara, sambutan Ulang Tahun ke-90 TLDM dibatalkan
- Perkembangan terkini pasca nahas helikopter TLDM
- Kuasa-kuasa besar lobi Turki, hentikan Misi Flotila
#AWANInews
Jabatan Bantuan Guaman perlu main peranan dalam pelbagai kes, bukan hanya jenayah - Azalina
JBG diwujud bagi memberikan khidmat bantuan guaman kepada mereka yang layak berpandukan Akta Bantuan Guaman 1971.
GSC Pavilion KL akan ditutup 16 Februari depan
Pawagam Golden Screen Cinema (GSC) akan menutup cawangan di pusat beli belah Pavilion Kuala Lumpur bermula 16 Februari depan.