Malaysian Exhibitor GSC to Acquire MBO Chain as Cinemas Poised to Reopen

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Malaysia’s largest movie theater operator Golden Screen Cinemas is to acquire the country’s third largest player MBO, which last year filed for a creditor’s voluntary winding-up agreement as a resu…

’ negative impact on business. The move comes at a time when many of Malaysia’s cinemas are poised to reopen after the latest COVID shutdown.

MBO had operated 27 complexes across 10 states, though some of these were quickly hit by Malaysia’s lockdown measures, known as movement control orders. GSC operates 344 screens in 34 locations in Malaysia, though is understood to have permanently shuttered two multiplexes. It also operates 108 screens in 18 locations in Vietnam through a partnership with Galaxy Studio.

On Tuesday, the government said that capital territory Kuala Lumpur and the most populous states Selangor, Johor and Penang states would see their MCOs downgraded from Friday. The National Film Development Corporation said on its website that filming production and cinema operations can restart under those conditions.

 

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