Jakarta, CNBC Indonesia – PT MD Ritel Utama, a subsidiary of PT MD Pictures Tbk (FILM), in partnership with Anyone F&C Co., Ltd and XINGXING (Hong Kong) International Investment Limited. created a joint venture company in the food and beverage industry called PT MIXX ONE Food and Beverage.
This was marked by a joint venture company agreement (JVC/Joint Venture Company) in Jakarta, Friday (22/2/2019).
“MD has been playing in F&B as well as in the high end from Akira and others so this is more towards the mid market which is mass. They are from South Korea, Anyone Group is very experienced in the coffee business for 20 years,” said Main Director MD Main Retail Manoj Punjabi.
In the MD Place building there are already three level restaurants, namely Valentino, Akira Back, and AB Steak. All three are under the management and ownership of Main Retail MD. Manoj added, the investment in this joint venture will be carried out in three stages. The first stage is worth IDR 15 billion.
After the signing of this cooperation, the share ownership ratio of each of the parties was recorded at 33.33% with a total investment value of IDR 15 billion. Later, after one year the total investment value will increase to IDR 45 billion.
“So we have three stages for this business. First, we will make Rp. 15 billion in the first year,” added Manoj.
Anyone F&C Co., Ltd will be responsible for menu/recipe development, cafe training programs and cafe management. Manoj said the prospects for the growth of the food and beverage business industry had a bright and potential market share.
“Medium-level F&B must be massive. So when it comes to scale ability, we have to keep going. Because of that, we have three parties who are ready for this F&B,” he added.
The first outlet of this coffee shop will be located at MD Place, Setiabudi, Jakarta, and will operate in the second half of 2019.
FILM was listed on the Indonesia Stock Exchange (IDX) in the middle of last year. MD has introduced three films in international collaborations, including the futuristic action hit Foxtrot Six, Mario Kassar, and the film Silent in collaboration with Mixx Entertainment Korea and Magical Paintings a joint venture (JV) with Dee Company and Blue Water Films.
MD Pictures plans to develop a digital film content business this year. Manoj Punjabi said he would only be satisfied after targeting the digital business.
“My target this year is for digital content. This is the MD Pictures challenge. That’s a solid plan [kalau] Then I’m satisfied, okay, I’ve done it,” said Manoj without going into further detail about this.
MD Pictures conducted an IPO on August 7 last year. Releasing 1.30 billion shares with a nominal value of Rp. 100 to the public, the only company in the entertainment sector listed on the Indonesia Stock Exchange (IDX) received funds of Rp. 267.69 billion.
Apart from developing its digital business, this year MD Pictures also plans to produce at least 15-18 films. Manoj added, his party already has a film franchise, and will make a new film franchise.
Not Cutting Production Costs, This Is FILM’s Strategy to Face the Pandemic