|

Tengis Cinema to be privatized in 2014

By M.ZOLJARGAL

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.

 

Short URL: http://ubpost.mongolnews.mn/?p=6910

Posted by on Nov 30 2013. Filed under Domestic. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Comments are closed

Recently Commented

  • William: It is quite sad to notice that the poor will pay the price for those new policies to reduce traffic jam, but that’s also...
  • Ann Altman: Imprisonment of Engineer Bat is a travesty and a serious assault on democracy in Mongolia. I am appalled by a jail sentence...
  • Kenny: China is a great Country, will lead the world soon and replace the leadership of the US. so our country must be the best friend of...
  • Ann Altman: “Elected officials are public servants” and “The public has a right to know how every tugrik of its taxes...
  • David Chace: According to my sources, President Xi Jinping is staying at Tuushin-Best Western Hotel, which is currently flying a Chinese...