Friday, 18 December 2009

Pinewood Shepperton gets Malaysia film studio deal

Pinewood Shepperton gets Malaysia film studio deal

Wed Dec 16, 2009 1:13pm IST

* To get consultancy and brand licence fees

* 2010 fees to be offset by infrastructure set-up

* 2009 trading remains in line with mkt view

Dec 16 (Reuters) - Film studios Pinewood Shepperton Plc (PWS.L: Quote, Profile, Research) said it had entered into an agreement for the development of a new studio facility in southern Malaysia and that its trading for 2009 remained in line with market expectations.

The British firm said it would get consultancy and brand licence fees for sales and marketing services as part of its agreement with Khazanah Nasional Berhad, the investment holding arm of the Government of Malaysia.

The company, whose facilities in south east England were used for the production of Oscar winner Slumdog Millionaire and the Harry Potter films, said the fees due in 2010 would be largely offset by setting up the sales and marketing infrastructure.

Pinewood Shepperton had recently concluded a long-term sales and marketing agreement with Pinewood Toronto Studios. "Following our deal for Pinewood Toronto and now Pinewood Malaysia, we are exploring further opportunities in this new and growing market," the company said in a statement. The company's shares closed at 131.50 pence on Tuesday on the London Stock Exchange. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Deepak Kannan)

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