PPB sets aside RM535mil for capex

From left: Ong, Lim and Leong at the briefing. Leong says the group plans to open 11 cinemas.

KUALA LUMPUR: PPB Group Bhd will spend RM535mil on capital expenditure (capex) over the next two to three years, focusing on expanding the Golden Screen Cinemas (GSC) chain, according to chief financial officer Leong Choy Ying.

The company, which has at least six different business segments, has set aside RM283mil under the film exhibition and distribution division to open 11 new cinemas, upgrade existing cinema equipment, extend three existing cinemas, as well as possibly increasing its investment in Vietnamese company Galaxy Studio Joint Stock Co.