KUALA LUMPUR/SINGAPORE/HONG KONG (Sept 13): Billionaire Robert Kuok is seeking a buyer for Golden Screen Cinemas Sdn Bhd, Malaysia’s largest movie theater chain, in a deal that could fetch as much as US$500 million, people with knowledge of the matter said. The potential sale of Golden Screen Cinemas, which has 345 digital screens in Malaysia and Vietnam, comes as Asian film exhibitors have been expanding outside their home markets. South Korea’s CJ Group agreed to buy control of Turkish cinema operator Mars Entertainment Group earlier this year. Koh Mei Lee, chief executive officer of Golden Screen Cinemas, didn’t immediately respond to phone calls and an e-mail seeking comment. Kuok controls the conglomerate through his holding company Kuok Brothers Sdn Bhd, which owns 50.8% of PPB Group, according to its annual report.

Source: The Edge Markets September 13, 2016 03:45 UTC