The COVID-19 Pandemic Is Under Control, CGV Operates New Cinema In Serpong, South Tangerang

Photo: Doc. CGV

JAKARTA - The manager of the cinema network, PT Graha Layar Prima Tbk (BLTZ) officially operates the new CGV Mall Paradise Walk cinema, located in Serpong, South Tangerang, on Friday, April 29 yesterday.

Director of PT Graha Layar Prima Tbk, Yeo Deoksu said that with the opening of the new cinema, his party hopes to revive production house activities in producing and releasing national films.

In addition, the opening of new cinemas is expected to help restore the economy in the film industry and other creative industries, as well as to re-open job opportunities in the vicinity of CGV cinemas.

"People can return to watching movies in a safe and comfortable manner by implementing strict health protocols," he explained in a public information disclosure quoted on Saturday, April 30.

To improve the comfort and safety of cinema visitors, the Management of Graha Layar Prima ensures that it has prepared a number of health protocols in accordance with guidelines from both the Central Government and local Governments, including: Visitors are required to use the Peduli Protect application to perform screening or the application of health protocols regulated by Local Government to all visitors and employees.

The company also claims to follow the provisions for maximum audience capacity based on PPKM status where the provisions are Level 3, with a maximum capacity of 50%, then PPKM status with Level 2, maximum capacity of 75 percent, while PPKM status with Level 1, maximum capacity of 100 percent.

For the record, until the period of December 2021, BLTZ operates 68 cinemas with a total of 395 screens.

In terms of performance, for BLTZ the COVID-19 pandemic that occurred over the past two years was a heavy blow, because cinema operations were limited and even closed. This condition has an impact on the achievement of the Company's financial performance.

For the 2021 financial year, BLTZ's revenue was recorded at Rp.284.90 billion, compared to 2020, which was Rp. 255.94 billion. Before the pandemic, in 2019 revenue was recorded at Rp1.41 trillion.

For bottom line profit, the Company recorded a loss of Rp. 264.57 billion, showing a decrease compared to the loss suffered in the previous year of Rp. 447.47 billion. Meanwhile, in the 2019 financial year, the Company still made a profit of Rp. 83.35 billion.