Major Cineplex Group is exploring new market opportunities for entertainment complexes in India. Somkit Tantadvanichkul, CEO of Major Cineplex Property Co, a subsidiary of Major Cineplex Group, said many Indian property firms had approached the company with land offers.

The company is now considering suitable locations for opening entertainment centres similar to Major Cineplex complexes in Thailand, he said.

''India is a very attractive country for investing in movie-related businesses. There are several thousands movies shown per year,'' he said.

India has many multiplex theatres in retail centres but few stand-alone cinema complexes, and they are unlike those in Thailand. The movie industry in India is also huge and worth over 10 billion baht.

Mr Somkit said the company is interested in developing entertainment complexes in Delhi, Mumbai, Bangalore, Kolkata, Chennai and Hyderabad.

Major Group has already expanded its bowling business to India. A joint venture, PVR Blu O, has been set up to run the business and the first bowling outlet with 24 lanes opens next month. The company plans to spend at least 1 billion baht to open another 19 bowling outlets in India over the next three years.

At home, Major Cineplex Property has spent 750 million baht on its new Esplanade lifestyle shopping complex on Rattanathibet Road.

Mr Somkit said the group was interested in building new projects in Rama 9, Kaset Navamin and Ratchapruek areas. However, retail complexes or cineplexes over 10,000 square metres are prohibited in these areas under Bangkok's City Plan.

''If Bangkok relaxes this condition, there are more opportunities to invest and it will be good for the country's economy'' he said.

Major shares closed at 7.40 baht, down 35 satang, in trade worth 16.98 million baht.

source : www.bangkokpost.com