PPB Group Berhad has announced the shutdown of Golden Screen Cinemas (Cambodia) Co., Ltd after receiving approval for the proposed dissolution and liquidation of the company.
GSCCC is an indirect 60%-owned subsidiary of PPB held through GSC Cambodia Limited. The company was incorporated in the Kingdom of Cambodia in 2015 with the intention to start cinema operations in the country, however, GSCCC had not
commenced business operations.
PPB said the shareholders of GSCCC have decided not to proceed with the proposed business and have no further plans for the company. The Liquidation is not expected to have a material financial or operational impact on PPB Group for the financial year ending 31 December 2022.
