|

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

  • NAMBC: The SouthGobi verdict needs to be walked back. This episode is hurting Mongolia’s image among international investors, who...
  • JonaQuestArt: I attended This amazing event with talented Artists from across the world. It was great to see the works of Mongolian...
  • Honheree: The government of Mongolia has no clue about finance or economics. Does anyone remember in January, 2014 that the Finance...
  • MongolAbroad: Ulaanbaatar absolutely must be on this line…what is the Mongolian government doing letting this slip? The...
  • Robert Ritz: Considering tourism went down 10% last year in Mongolia, but went up over 10% in the rest of the world. I think the goal of...