29 Jul – Power Root Bhd, which is best known for producing the energy beverages Tongkat Ali and Kacip Fatimah, will be diversifying into movie production, distribution, exhibition and marketing, according to the Edge.
The beverage manufacturer will do so under the banner of Medan Multimedia Sdn Bhd (MMSB), which also involves local movie distributors and exhibitors Clover Films Pte Ltd, tycoon Robert Kuok's Golden Screen Cinemas Movies (GSCMOVIES) and Very Good Movie (M) Sdn Bhd.
Power Root has released a statement about their new joint venture and agreement.
"We have signed a shareholders' agreement with Clover Films, Golden Screen Cinemas and Verygood Movie. Under the agreement, Power Root has subscribed to 51% equity interest in Medan Multimedia for RM 15,300. MMSB will be a subsidiary company of Power Root."
According to Tung Yow Kong, GSC Senior Manager of Distribution, "We are already working with Clover Films, Very Good Movie and Ah Huat White Coffee on the upcoming Chinese New Year movie "Huat Ah! Huat Ah! Huat!", which stars Hong Kong-based female lead actress Joyce Cheng and we look forward to our continued partnership in the future."