Tengis Cinema to be privatized in 2014
The Ulaanbaatar City Administration (UCA) owns 34 percent of Tengis Cinema, while the rest is owned by the South Korea-based Wayrich Resource Asia, which financed and renovated the cinema premises.
Recently, Member of Parliament S.Batbold and CEO of APU joint stock company P.Batsaikhan have purchased the 66 percent share from Wayrich.
The UCA has listed Tengis Cinema as one of the city owned assets to be privatized in 2014. The cinema has proven very profitable since its commencement and was built on the foundation of the former Victory Cinema. The Ulaanbaatar City Representative’s Council will finalize the decision to privatize the cinema in their next meeting.
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