Cinema companies in Malaysia tighten belts amid revenue downturn from MCO | Malay Mail

Tuesday, 26 May 2020 09:30 PM MYTCinema chains in Malaysia like GSC and TGV are taking steps to remain afloat during the ongoing Covid-19 pandemic. — Picture by Hari Anggara

“The environment whereby our cinemas are closed is obviously very difficult but a necessary sacrifice. We have cut discretionary expenses as much as possible,” he toldYeoh said this meant reducing activities including marketing and promotional expenses, adding that other measures to be taken may include reduced operating hours upon reopening as business is gradually scaled up over a period of time. Over 80 million admissions were recorded in Malaysian cinemas for 2018 and 2019.

“Although we are certainly not closing any outlets, we will nonetheless consider a phased opening as well as shorter operating hours initially. This will allow us to fine-tune our new standard operating procedures and ensure that the customer experience is as safe and pleasant as possible,” Yeoh said.

“We have also ceased all discretionary and non-essential spending and increased operational efficiency through manpower management and are also in discussions with our landlords on rental reductions during this difficult period,” she said. “Furthermore, we have also planned a variety of attractive value promotions that will be available when we reopen for business. These promotions are part of our efforts to invite customers to return to the cinemas and rediscover the immersive, state-of-the-art entertainment experience on the big screen,” she said.

“However, contract workers are currently furloughed temporarily in view of the long closure, as a measure to manage our manpower effectively. While we expect these measures to ease when the business picks up again in August, we may have to explore other measures should the situation not improve in the latter part of the year,” Yeoh said.

That’s a good news. During normal day the price of tickets 🎫 its so so expensive. So i think they can cover for 10 years losses.

Reopening shop selling CD, DVD back lahhh

Hang on. I miss the cinemas too.

aponakdikato newnormal

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Moody’s: Pressure keeps rising for Apac companies as coronavirus impact becomes clearer | Malay MailKUALA LUMPUR, May 25 — Moody’s Investors Service said about 22 per cent of 476 rated non-financial companies in Asia Pacific (Apac) have high exposure to coronavirus disruptions, up from 20 per cent in March, as the effects of the pandemic on companies’ credit quality have...
Source: malaymail - 🏆 1. / 86 Read more »

UK’s Sunak authorises bailout plan to rescue strategically important companies | Malay MailLONDON, May 25 — British Finance Minister Rishi Sunak has authorised a bailout plan to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a “last resort” basis after other options run out. The Treasury told...
Source: malaymail - 🏆 1. / 86 Read more »