KUALA LUMPUR: PPB Group Bhd says its operations are not significantly impacted by the implementation of the Goods and Services Tax (GST), despite its business revolving around consumer goods. PPB Groups core businesses are its flour and feed milling division under its 80 per cent-owned subsidiary FFM Bhd, as well as its film exhibition and distribution division under Golden Screen Cinemas Sdn Bhd (GSC). FFM Managing Director Datuk Ong Hung Hock said its core business in raw materials such as flour, feedstock and eggs has not been affected as they are zero-rated supplies. œWe also have canned and frozen food, which is categorised under standard rated supplies, but these are not a significant part of our business, he told reporters after the companys annual general meeting here today. GSC Chief Executive Koh Mei Lee said there had not been any slowing down in cinema admissions at the moment due to the release of blockbuster films such as Furious 7 and Avengers: Age of Ultron as soon as the GST kicked in. œWe have allocated capital expenditure of RM208 million to this division to open 11 new cinemas over the next two to three years, upgrade three existing ones and acquire an additional stake in a Vietnam associate. œWe hope these initiatives will further improve our business and generate more revenue, she added.
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