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INVESTORS with a keen eye would have noticed a divergence between the share price trends of diversified conglomerate PPB Group Bhd and its Singapore-listed associate Wilmar International Ltd. PPB has an 18.5% stake in Wilmar.
PPB’s share price has remained largely unchanged in the last six months, closing at RM18.72 last Friday from RM18.60 on Sept 4, 2020. Wilmar, on the other hand, has seen its share price rise 21% over the same period to S$5.30 at last Friday’s close from S$4.37.
Traditionally, there had been a high correlation between the share prices of these two companies at 0.7 times over the last five years, according to UOB Kay Hian Research. This correlation increased to 0.91 times in 2020, following the listing of Wilmar’s subsidiary Yihai Kerry Arawana Holdings Co Ltd on the Shenzhen ChiNext Board last October, it adds in its January report.
Koh Mei Lee, who is the head of corporate affairs of PPB Group Bhd and chief executive officer of GSC Group, said: “We have full confidence that the cinema industry is still healthy on a growth trajectory and it will always be around.
KUALA LUMPUR: The latest acquisition of MBO Cinemas by PPB Group Bhd will allow the group to diversify into new growth areas and expand its revenue streams.
The expanded chain of cinemas would enable PPB Group to capitalise on the food and beverage (F&B) segment and increase the co-production of local content by its Golden Screen Cinemas (GSC) Movies to complement the movie-going experience and further expand its revenue stream, said Koh Mei Lee, who is the head of corporate affairs of PPB Group Bhd and chief executive officer of GSC Group.
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 acquisition as the group is bound by the confidentiality agreement. Although 2020 has been a worst year for cinema industry, we believe with the improvement due to vaccination and gradual opening of cinemas worldwide, the acquisition would be a good opportunity and fits well for GSC’s cinema network,” he said during PPB’s virtual press and analyst briefing today.
A GSC cinema staff at Mid Valley Megamall spraying disinfectant in preparation of opening cinemas to the public on March 5. Moviegoers can buy tickets online to eliminate the necessity to queue up.
PETALING JAYA: Wellness and cinema industry operators have welcomed the government’s decision to allow them to reopen under the conditional movement control order.
GSC chief executive officer Koh Mei Lee said she was “happy, thankful and relieved” now that cinemas were finally allowed to reopen.
“We have received a lot of positive reaction from moviegoers welcoming the reopening of cinemas as they have been waiting for such a long time to be able to enjoy their favourite movies on the big screen.