Pyramid Saimira to set up digital theatres in Malaysia

Televisionpoint.com Correspondent
Pyramid Saimira Theatre is partnering the Malaysian company Asian Integrated Industries to set up a chain of digital theatres in Malaysia. Pyramid Saimira Theatre Chain, the joint venture company, is investing Rs 12.50 crore to digitise about 50 theatre screens in Malaysia over the next two months, while Pyramid Saimira Theatre Ltd (PSTL) would use its domain expertise, Asian Integrated Enterprises would help with local networking.

PS Saminathan, Managing Director, Pyramid Saimira Theatre Ltd said the objective of the JV is to create a theatre chain across Malaysia at over 150 locations. The association will also attempt to distribute content through DVDs, theatres as well on the DTH platform. Saminathan added that digitisation will help to increase the revenues by releasing the same film in more locations simultaneously. There are revenue expectations to the tune of approximately Rs 10 crore from the chain of 50 theatres.

The joint venture company also plans to produce the Malay language film 'Berikan Hatimu' which will hit the screens by September 2007. In addition, it will also distribute the movie 'Shivaji' in Malaysia. Saminathan said there are three million South Indians in Malaysia and in some cases, even Malays prefer seeing Indian films. PSTL also has an agreement with the latest entrant in home video market, Moser Baer, to market library content of Moser Baer in its theatres and distribute films produced by Moser Baer.

Pyramid Saimira's Q4 results showed a turnover of Rs 67.8 crore while the income for the 12-month period stood at Rs 166 crore, up Rs 4.99 crore for the fiscal 2005-06. The net profit after tax was Rs 5.83 crore for the Q4 of 2006-07 while the net profit for the 12-month period starting April 2006 was Rs 15.88 crore, a big jump from a PAT of Rs 1.71 crore for the fiscal 2005-06. The company also added 71 new screens to exhibit movies in this quarter, taking its total tally to 265 screens, nationally.