Kuok said to be seeking US$500m sale of cinema unit

Kuala Lumpur

BILLIONAIRE Robert Kuok is seeking a buyer for Golden Screen Cinemas Sdn, Malaysia's largest movie theatre chain, in a deal that could fetch as much as US$500 million, people with knowledge of the matter said.

PPB Group Bhd, a Kuala Lumpur-listed company controlled by the Malaysian tycoon, has received first-round bids for the cinema business, according to one of the people, who asked not to be identified as the information is private.