MD Pictures Creates Joint Venture with China and South Korea

Jakarta, CNBC Indonesia – Ahead of the initial public offering (IPO), PT Multi Dimensia (MD) Pictures plans to form a joint venture (JV) with media and film companies from China and Korea.

Later, the percentage of share ownership between MD Pictures and the two companies will be 33.3% with a total investment value of US$ 3 million to form a new business. ) Manoj Punjabi, CEO of MD Entertainment in the Due Diligence event at the Four Season Hotel, Friday (13/7/18).



Meanwhile, the investment funds for this collaboration will come from fresh funds received by MD Pictures through an IPO offered on July 25-31.

While the forms of cooperation in the joint venture include the filmmaking business to the exchange of expert services for filmmaking and production.

“This is one way to penetrate the market in that country, they also have expertise as well so within the next two years it is estimated that our market will get bigger,” added Manoj.

Meanwhile, with the funding target achieved through the IPO, MD Pictures targets a net profit growth of up to 30% this year.

For the record, MD Pictures’ net sales revenue in February 2018 was IDR 89.56 billion, an increase of 173.65% compared to MD Pictures’ revenue in the same period last year of IDR 56.83 billion. Meanwhile, MD Pictures’ net profit in that period was IDR 66.22 billion.

Until the end of 2017, MD Pictures had won 24.1% or 10 million viewers of the entire film market share in Indonesia.

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