Dear Members & Friends,

Anil Ambani group firm Adlabs Films will acquire majority stake in Malaysia-based Lotus Five Star Cinemas following which it will become the third largest chain in Malaysia.

"The company plans to venture wherever there is market for Indian movies, be it USA or Malaysia. The said acquisition was because there exists a huge market for Tamil movies, " Reliance Big Entertainment senior vice-president Anil
Arjun said.

The company has entered into an agreement for acquisition of majority and controlling interest in Lotus Five Star Cinemas and would be operating a 51-screen cinema exhibition chain in Malaysia, the company said.

The chain would have a footprint across Malaysia and would be playing mainstream Hollywood films in addition to movies in the Indian languages such as Hindi, Tamil, Chinese and Malay, Adlabs, a part of Reliance Big Entertainment, added.

Adlabs currently has 160 screens operating in India. Its international presence, in addition to Malaysia, comprises 220 screens covering the East, Mid West and West Coast of USA as also Mauritius and Nepal.

Shares of the company rose 1.16 per cent to Rs 770.45 on the BSE on Monday.


Disclaimer: This information has been collected through secondary research by S. Rengasamy (Hon. Secretary General, MAICCI). Both S. Rengasamy and MAICCI are not responsible for any errors in the same.


Thank you and best regards.

“TOGETHER WE ACHIEVE EXCELLENCE”

Yours in MAICCI,