KUALA LUMPUR (Feb 6): Golden Screen Cinemas Sdn Bhd (GSC) said today that it is shutting down its GSC outlet in Pavilion Kuala Lumpur on Feb 17.
This marks an end to GSC’s over 12-year run in Pavilion since its launch as a 13-screen multiplex on Nov 28, 2007.
GSC is a wholly-owned unit of PPB Leisure Holdings Sdn Bhd, which is in turn wholly-owned by listed conglomerate PPB Group Bhd.
“Our cinema will remain fully operational until our last day of business, which will be on Feb 16, 2020 (Sunday),” said GSC in a statement today.
Following the closure, GSC suggested movie-goers could visit its nearby cinemas in Berjaya Times Square, Quill City Mall and MyTown in Cheras.
“We would like to take this opportunity to convey our sincerest thanks and gratitude to all movie-goers who have supported GSC Pavilion KL since its opening,” it added.
Separately, Pavilion Real Estate Investment Trust asset manager (retail) Datuk Joyce Yap told theedgemarkets.com that the space left by GSC will be taken over by China-based cinema chain Dadi Theater Circuit.
Dadi Cinema, which is touted as China’s second-largest cinema chain in 2019, is also reportedly a confirmed anchor tenant for Pavilion Bukit Jalil, which is slated to begin operations in May 2021.
Pavilion REIT rose one sen to RM1.73, valuing it at RM5.26 billion. Shares of PPB Group closed 6 sen or 0.32% lower at RM18.70, giving it a market capitalisation of RM26.6 billion.