JOHOR BAHRU: Entertainment and content provider GHY Culture & Media (GHY) will acquire 80 per cent of Iskandar Malaysia Studios (IMS), a high-profile film and TV production complex based in Johor.
GHY, which is headquartered in Singapore and China, made the announcement in a filing on the Singapore Exchange on Mar 31.
The filing stated that GHY’s Malaysia subsidiary has entered definitive agreements to acquire an indirect 80 per cent interest in IMS.
It also said that the aggregate consideration payable by GHY Malaysia was RM8.84 million (US$2.01 million). IMS’ net asset value at the end of 2022 was RM32 million.
GHY produces and promotes dramas, films and concerts in the Asia-Pacific region. It organised Taiwanese star Jay Chou’s recent concerts in Singapore and Kuala Lumpur as well as produced TV series such as The Ferryman: Legends of Nanyang, which stars well-known Singapore artistes like Lawrence Wong, Qi Yuwu, Tay and Jeanette Aw.
IMS, which officially opened in 2014, was used in the production of the original Netflix series Marco Polo. It also played a role in the production of reality TV series “Asia’s Got Talent” as well as hit Hollywood film Crazy Rich Asians.
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