KUALA LUMPUR: PPB Group Bhd (PPB), the owner of Golden Screen Cinemas Sdn Bhd (GSC) is optimistic that the lifting of movement control orders and a strong line-up of movie blockbusters will boost cinema admissions.

       The group anticipated its film exhibition and distribution segment to deliver better financial results on a year-on-year basis as the recovery momentum picks up in 2022.

       Bernama quoted PPB managing director Lim Soon Huat as saying, in the group’s 2021 annual report, that the group has outlined several development plans for the year, such as the GSC reward programme to drive admissions as well as retain and attract new cinemagoers while simultaneously building customer loyalty.

       “We are launching eight BIG cinema halls to provide a better immersive experience, and opening at least two Happy Food Co outlets during the year.

       “GSC also targets to introduce new cinemas in Bintulu, Johor, Kuala Lumpur, and Putrajaya, with a total of 50 new screens,” he said.

       In September 2021, GSC completed the acquisition of 18 cinema assets from MCAT Box Office Sdn Bhd and Reel Entertainment Holdings Sdn Bhd, increasing its domestic market share to more than 50%.

       The PPB group’s diversified businesses include agribusiness, consumer products, property development, environmental engineering and utilities.

       Lim said the group is optimistic that its utilities segment will see a steady recovery this year with the relaxation of social restrictions and recovering markets.

       “We qualify to participate in government tenders as a main contractor for water and sewage projects, and the market has recognised us as a capable infrastructure works contractor, thus opening more opportunities for the group.

       “The group’s subsidiary, Chemquest Sdn Bhd (CQ) has tendered for water projects in Malaysia and Brunei worth RM400mil and will continue to focus on opportunities in water, sewage and infrastructure projects,” he added.

       Last year, CQ completed two water treatment plants in Johor and Sarawak worth RM87mil and secured three water projects in Sarawak, Johor and Kedah worth RM212mil, bringing its order book to a total of RM360mil as of Dec 31, 2021.