Pyramid Saimira inks JV with Malaysian co. to set up theatre chain

MUMBAI: Pyramid Saimira Theatre Ltd has entered into a joint venture with Kuala Lumpur based film distribution company M/s. Asian Integrated Industries Sdn. Bhd to set up a theatre chain in Malaysia with 150 multiplexes and single screen theatres in Malaysia.

An official announcement issued stated that the JV will be called as "Pyramid Saimira Entertainment Malaysia Sdn Bhd" (subject to approval of concerned authorities) in which both of them shall hold 50 per cent - 50 per cent each.

The investment in the proposed JV will be 2400 million INR (200 million RM) in which both the parties will contribute equally. The goal is to achieve this in next 2-3 years.

Currently, the partnership involves acquiring three screen multiplexes immediately and aiming to operate 10 multiplexes by March 2007.

The new JV will distribute Hindi, Tamil, Telugu, Kannada and Malayalam movies, Chinese and Hollywood films and other contents across Malaysia on theatres / DVD / DTH and other methods of exploitation.

Additionally, the JV will create an Eco system for local Malay, Tamil and Chinese film production using local talents and be a catalyst in distributing the same both inside Malaysia and outside Malaysia.

The Indian digital technology Pyramid Saimira will provide the back-end resources to the JV for Digital display of contents in Malaysia by leveraging its domain expertise and infrastructure currently being established in India, adds the release.

The company will also try to exploit all the upcoming community centers in Malaysia by operating theatres as well as convention halls with video conferencing and family entertainment.

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