GSC proprietor optimistic of restoration, targets to introduce 50 new screens

KUALA LUMPUR: PPB Group Bhd (PPB), the proprietor of Golden Display screen Cinemas Sdn Bhd (GSC) is optimistic that lifting of motion controls, rest of social restrictions and a robust line-up of film blockbusters would increase cinema admissions.

Within the group’s 2021 annual report filed with Bursa Malaysia immediately, 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 Quickly Huat stated the group has outlined a number of growth plans for the yr, such because the GSC Rewards program to drive admissions in addition to and entice new cinemagoers whereas concurrently constructing buyer loyalty.

“We’re launching eight BIG cinema halls to offer a greater immersive expertise, and opening not less than two Joyful Meals Co shops through the yr.

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

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

The PPB group’s diversified companies embrace agribusiness, client merchandise, property growth, 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 principal contractor for water and sewage tasks, and the market has acknowledged 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 tasks in Malaysia and Brunei price RM400 million and can proceed to concentrate on alternatives in water, sewage and infrastructure tasks,” he added.

Final yr, CQ accomplished two water remedy crops in Johor and Sarawak price RM87 million and secured three water tasks in Sarawak, Johor and Kedah price RM212 million; bringing its order ebook to a complete of RM360 million as of Dec 31, 2021.

As for its funding properties and property growth 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 fall 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 because of the risky commodity market costs and excessive freight prices in 2022, noting that the section skilled a decline because of the unprecedented excessive uncooked materials prices because of world provide shocks and provide chain disruptions.

“We’re dedicated to optimizing operational efficiencies via 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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