KUALA LUMPUR, June 13 — The Finance Ministry has today denied the sale of a film and television production complex land of 49 acres in Iskandar Puteri, Johor Baru.
“IMS, as a studio operator company only leased land and building up to year 2036,” Sim told the Parliament today during Minister’s Question Time. “However, IMS is also facing challenges in terms of financial sustainability and it is worsened by effects on the filming industry due to the Covid-19 pandemic.
“To ensure the chosen party is accurate and to ensure justice in this transaction, the Request for Proposal process has been released in March 2021. GHY Group is a leading diversified media group company in the Asian entertainment industry and is listed on the Singapore Stock Exchange. Following this transaction, Sim said Khazanah will receive the sale proceeds shares of the company operating the studio's operations amounting to RM32 million as well as estimated rental payments up to the year 2036 at RM26 million in total.
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