Adlabs forays into Malaysia

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Monday , May 05, 2008 at 1419 hrs Anil Ambani group firm Adlabs Films on Monday said it will acquire majority stake in Malaysian Lotus Five Star Cinemas following which it will become the third largest chain in that country.

"The company plans to venture wherever there is market for Indian movies, be it USA or Malaysia. The said acquisition was because there exists a huge market for Tamil movies," Reliance Big Entertainment senior vice president Anil Arjun said.

The company has entered into an agreement for acquisition of majority and controlling interest in Lotus Five Star Cinemas and would be operating a 51 screen cinema exhibition chain in Malaysia, the company said in a filing to the Bombay Stock Exchange.

The chain would have a footprint across Malaysia and would be playing mainstream Hollywood films in addition to movies in the Indian languages such as Hindi, Tamil, Chinese and Malay, Adlabs, a part of Reliance Big Entertainment added.

Adlabs currently has 160 screens operating in India. Its international presence, in addition to Malaysia, comprises 220 screens covering the East, Mid West and West Coast of USA as also Mauritius and Nepal.