entertainment

MD Entertainment (FILM) Establishes A Subsidiary In Collaboration With A Producer

PT MD Entertainment Tbk (FILM) has announced the establishment of a subsidiary focused on film production, named PT MD Produksi Indonesia (MDPI).

"The formation of this subsidiary is expected to have a positive impact on the financial aspects and the sustainability of the company," stated FILM's Corporate Secretary, Fadel Ramadhia, in a disclosure reported on Friday, December 13, 2024.

In the establishment of this subsidiary, FILM has partnered with two directors, Syaiful Drajat and Nasrul Warid. FILM has invested IDR 10 million in MDPI, thereby securing an 80 percent ownership stake.

Meanwhile, Syaiful and Nasrul each contributed IDR 1.25 million, granting them each a 10 percent stake in MDPI.

Syaiful Drajat has previously directed three works, including the film "Takut Kawin" (2018), the FTV "Karma Sang Penipu Cantik," and the series "Bidadari Takut Jatuh Cinta." In both "Takut Kawin" and "Bidadari Takut Jatuh Cinta," Syaiful also served as a producer alongside Nasrul Warid.

As of the third quarter of 2024, MD Entertainment reported revenues of IDR 348 billion, reflecting an 18.8 percent increase compared to IDR 293 billion in the same period of 2023.

In line with the revenue growth, FILM's net profit surged by 21 percent year-on-year, rising from IDR 86 billion to IDR 104 billion.

Tag: FILM MD Entertainment MD Produksi Indonesia