KUALA LUMPUR (March 3): PPB Group Bhd today dispelled speculation that it was going to sell off its Golden Screen Cinemas Sdn Bhd (GSC), stressing that it has plans to expand the cinema business instead. PPB managing director Lim Soon Huat told reporters today that the group is not seeking bids for GSC. GSC is one of the core businesses in PPB group. To date, GSC has 306 screens in 33 locations, while Galaxy Studio has 43 screens in seven locations. The expansion in Vietnam will utilise cash flow from Galaxy Studio's operations, said PPB head of corporate affairs Koh Mei Lee.

Source: The Edge Markets March 03, 2017 08:46 UTC