PUC buys 33% of Pictureworks

PUC will be buying the 33% equity interest in Pictureworks from several vendors including its group managing director and chief executive officer Cheong Chia Chou, who is a major shareholder in both PUC and Pictureworks.

KUALA LUMPUR: PUC Bhd is proposing to buy a third of the shares in a company that provides imaging services to Kidzania and Legoland for RM52.8mil under a plan to expand its advertising and media revenue base.

The acquisition of Pictureworks Holdings Sdn Bhd, PUC said in a filing with Bursa Malaysia yesterday, is expected to generate more than a quarter of the group’s future profit.