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Jakarta, CNBC Indonesia – Issuer of a film production house, PT MD Pictures Tbk (FILM) will produce several film series with an investment value of Rp 7.5 billion disbursed to its subsidiary PT MD Entertainment.
“The company and MD Entertainment will work on the production of serial films in a period of approximately 1 year,” said Venkatachari Soundararajan, Director of MD Pictures, in an information disclosure on the IDX, Tuesday (22/9/2020).
He said that by cooperating with the company and MD Entertainment, it would be able to enliven the creation of Indonesian films in series and digital form, even quality FTV.
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“The source of funds used is from the company’s internal cash,” he explained.
For the record, the June 2020 financial report shows that cash and cash equivalents from the company led by Manoj Dhamoo Punjabi was recorded at IDR 142.68 billion from December 2019 of IDR 178.31 billion.
The company and MD Entertainment will receive additional revenue from this collaboration in the production of the series which will be screened in Digital Film Industries.
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