GSC's purchase of MBO Cinemas' assets a stategic move, says MD

PPB Group Bhd's cinema arm Golden Screen Cinemas’ (GSC) acquisition of the majority of MBO Cinemas' assets is expected to contribute towards a healthy cash flow and strengthen its leadership position in Malaysia.

PPB Group managing director Lim Soon Huat said the exercise represented a strategic move and good opportunity to diversify GSC's revenue, especially with the timely vaccination rollout now happening.

However, he did not disclose the value of the acquisition as the group is bound by the confidentiality agreement.