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Our Bureau

Bangalore, Feb. 6

Pyramid Saimira Theatre Ltd has announced a tie-up to set up a theatre chain in Malaysia with 150 multiplexes and single screen theatres along with Kuala Lumpur-based Asian Integrated Industries Sdn. Bhd. This joint venture will be called `Pyramid Saimira Entertainment Malaysia Sdn Bhd' (subject to approval of authorities concerned) in which both of them shall hold 50:50 stake. The venture will distribute Hindi, Tamil, Telugu, Kannada and Malayalam movies; Chinese and Hollywood films and other content across Malaysia.

Pyramid will provide back-end resources for digital display of content in Malaysia by leveraging its domain expertise and infrastructure present in India, said a press release.

The company will begin operations by acquiring a three screen multiplex immediately. The joint venture will operate 10 multiplexes by March. The investment in the proposed joint venture will be Rs 240 crore in which both the parties will contribute equally.

More Stories on : Alliances & Joint Ventures | Overseas Investments | Cinema

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