Friday 3 December 2004
Cathay Organisation Holdings Limited (“the Company”) is pleased to announce that Cathay-Keris Films Pte. Ltd. (“CKFPL”), a wholly-owned subsidiary of the Company incorporated in the Republic of Singapore, has on 1 December 2004 entered into a joint venture agreement (the “Joint Venture Agreement”) with Prime Movies International Pte. Ltd. (“PMI”), a company incorporated in the Republic of Singapore.
CKFPL is a film distributor which procures quality films internationally, and supplies them to the Company’s film exhibition business; as well as to home video and television in the Singapore and Malaysia markets. CKFPL also owns and manages the rights to the Cathay Classics Film Library which contains Mandarin, Cantonese and Malay titles produced since the 1950s, 250 of which have been digitally restored to European broadcast standards.
PMI manages all international business activities for its related company, P.T. Dwiguna Prima (“Prima”), a leading television content production company based in Indonesia. PMI currently distributes over 2000 hours of prime-time Bahasa Indonesia content produced by Prima, to television stations in South East Asia. PMI also actively seeks co-production opportunities on behalf of Prima, with international broadcasters and other production partners in the region, having successfully completed projects in Singapore, Malaysia and India.
This joint venture is part of the Company’s strategy to increase shareholder value by continuously seeking out new business opportunities focusing on its core competencies.
FOR MORE INFORMATION, PLEASE CONTACT :-
CATHAY ORGANISATION HOLDINGS LTD
Jennifer Wee-Almodiel
Corporate Relations Manager
Tel : 6337 8181
DID : 6736 7279
jennifer_wee@cathay.com.sg
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