Adlabs acquires majority stake in Malaysian cinema chain
06 May 2008
Mumbai: Anil Dhirubhai Ambani Group's movie and entertainment company, Adlabs Films has bought a majority stake in Malaysian firm Lotus Five Star Cinemas to operate a 51-screen cinema exhibition chain in the country.
The venture is in line with the company's aggressive growth plan to become one of the largest movie service companies and also expand its international presence.
Adlabs, part of the Reliance Big Entertainment chain will play mainstream Hollywood films, along with Hindi Tamil, Chinese and Malay movies across Malaysia..
The cinema-chain has already set up operations in the US, Nepal and Mauritius, and will look to capitalise the Malaysian market, which has a strong presence for Indian cinema especially Tamil movies.
According to Reliance Big Entertainment senior vice-president Anil Arjun, the company plans to venture wherever there is a market for Indian movies. Currently Adlabs, which operates around 160 screens in India, plans to double its screen count in a year. Internationally the company has 220 screens, he added.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
