Working On Movieland, This Company Owned By The Conglomerate Hary Tanoe Allocates A Capital Expenditure Of IDR 350 Billion

Conglomerate Hary Tanoesoedibjo. (Photo: Doc. Antara)

JAKARTA - A company owned by conglomerate Hary Tanoesoedibjo, PT MNC Studios International Tbk (MSIN) has allocated a capital expenditure (capex) of IDR300 billion-350 billion for the development of Movieland in the MNC Lido City area, Bogor, West Java.

Movieland is the production center for film and drama series by the 33rd richest tycoon in Indonesia. The Managing Director of MSIN, Ella Kartika said that the construction of Movieland will take around 18 months to 24 months.

"The estimated capital expenditure value is Rp. 300 billion to Rp. 350 billion," said Ella, quoted from the information disclosure on the Indonesia Stock Exchange website, Tuesday, February 23.

On February 15, MNC Studios started building Movieland after the government announced the Lido City area as a Special Economic Zone (KEK). The development has also received approval from the National Council for Special Economic Zones (KEK) as a Special Economic Zone for Tourism.

The KEK status allows the area to enjoy various tax facilities and incentives, including income tax incentives (PPh), value added tax (PPn) and sales tax on luxury goods (PPnBM), import duties and import taxes, excise, and various licensing relief other.

"This will be good for the creative economy. Creating new entrepreneurs, becoming a tourist spot for Indonesians and even abroad, creating foreign exchange, creating jobs, improving people's lives," said the Executive Chairman of MNC Group Hary Tanoesoedibjo.

Movieland is one of the dozens of projects in the SEZ as a whole. Movieland, this outdoor film and drama series studio, will become the center of Indonesia's first world-class film and drama series industry.

Its existence has also become a creative hub that creates jobs and stimulates the tourism sector and the creative economy in Indonesia. Hary said that currently there are no qualified facilities for outdoor production, especially for producing films or television dramas.

Movieland is built on an area of 21 hectares in the MNC Lido City area. Equipped with various production facilities such as backlots (shooting locations), sound stages (closed studios), production equipment with the latest technology to post-production facilities with world-class technology.

For the backlot, Movieland will present various needs for open shooting areas, such as residential areas, urban settlements, old city and rural nuances. In addition, there are open natural areas, including areas with royal backgrounds in Indonesia.