Theatre chain company, Pyramid Saimira Theatre (PST) has tied up with Malaysia-based Asian Integrated Industries to set up 150 multiplexes and single screen theatres in Malaysia within the next 2-3 years. Both the companies will equally invest Rs 240 crore for the proposed joint venture (JV)."This step creates a paradigm shift in the way entertainment industry structure will be viewed and this is the first time an Indian business model and modus operandi is being taken outside India at such a large scale for films and the entertainment segment," P Saminathan, managing director, PST, said.The company plans to start operations by acquiring a three screen multiplex immediately. Following which the JV will begin operations with ten multiplexes by March 2007. Both the companies will hold 50% stake in the JV to be called Pyramid Saimira Entertainment Malaysia Sdn Bhd.The JV will distribute Hindi, Tamil, Telugu, Kannada and Malayalam movies, Chinese and Hollywood films and other contents across Malaysia on theatres, DVD, direct-to-home and other distribution methods. PST will provide back-end resources to the JV for digital display.
