Index Investing News
Thursday, May 29, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Billionaire Movie Mogul Builds Next Hollywood in Southeast Asia

by Index Investing News
November 23, 2023
in Financial
Reading Time: 3 mins read
A A
0
Home Financial
Share on FacebookShare on Twitter


When horror film took Indonesia by storm last year, it didn’t just overtake global blockbuster on its way to become the highest-grossing local movie ever.

The tale of a group of terrorized college students in a remote jungle village also minted a fortune for Manoj Punjabi, the co-founder and chief executive officer of movie producer PT MD Pictures. The Jakarta-listed company’s stock has risen 186% since the film was released last year, vaulting Punjabi’s stake to $1.6 billion. 

That elevated the film producer to an elite 10-digit club along with film executives including Steven Spielberg, George Lucas and Jerry Bruckheimer. And he’s using that windfall to build a new Hollywood-style empire in the world’s fourth-most populous nation.

“It’s a remarkable success given the fact that he’s only famous to Indonesians,” and more recently to other communities in Asia, said Jeffrey Bahar, chief operating officer at Singapore-based Spire Research and Consulting. “Manoj Punjabi is only now going international.” 

It’s a noteworthy turnaround for Punjabi, 50, who flitted between business ideas after studying marketing and finance at Indonesian European University in the country. He was fired from his job at a pulp and paper company after just three months. After those initial missteps, he joined his father Dhamoo and uncle Raam Punjabi in the movie business in 1995. 

The family was already prominent in the Southeast Asian nation’s entertainment circles. Raam, known as Indonesia’s ‘Soap King’, had dominated the short-format telenovelas known as  in the 1990s with his PT Tripar Multivision Plus. But in 2002, Manoj and his father parted ways with Raam to form their own firm, MD Group.

Like his uncle, Manoj initially produced soap operas before he expanded into movies five years later. But the newcomer’s first film flopped.

“I thought I was doing so well, so let’s just do a movie,” said Punjabi. “But I went to the cinema and saw only seven or eight people in the audience.”

A breakthrough came in 2008 when MD Pictures released a movie that broke the box office record that had been held by James Cameron’s for a decade in Indonesia, Punjabi said. Since then, the company has produced some of the country’s most popular films. Another big step came when Punjabi listed his company in Jakarta in 2018.

All that spurred Tencent Holdings Ltd. to buy a 15% stake in MD Pictures for some $50 million in 2021, a move spurred by the Chinese technology giant’s desire to have a footprint in Indonesia as well as the popularity of the firm’s video streaming platforms, according to Punjabi. 

Two decades since founding, Punjabi is a household name in Indonesia’s entertainment and media industry, which is the 15th largest market in the world with $13 billion in revenue, rivaling Brazil, Mexico and Spain, according to a PwC report. Its revenue is forecast to grow 7.7% through 2027 amid an expected surge in consumer spending as well as demand for streaming services. 

The nation’s cinema- and streaming-boom is allowing Punjabi to spend his new-found wealth. Punjabi held his 50th birthday and the company’s 20-year anniversary last year with a party themed on  in Bali. Guests included coal billionaire  Garibaldi Thohir, former minister of trade  Enggartiasto Lukita and local celebrities.

In a video interview posted on YouTube three years ago, the billionaire gave a tour of his house, which has a gym, sauna, bar, spa and hair salon. His Rolls-Royce and Bentley were shown parked in the driveway.

“You have to fail to succeed. I still fail and that’s the bottom of my success,” Punjabi said in the video.  

Meanwhile, Manoj’s uncle Raam has also benefited from the boom. He listed PT Tripar Multivision Plus in May. Its shares have gone up 193% since then, boosting the value of the 84% stake held by the elder Punjabi to $229 million, according to Bloomberg calculations based on the filings.

The Punjabis are “Indonesian Hollywood,” said Satrya Wibawa, the head of the Center for Creative Industries at the Graduate School of Universitas Airlangga. “They work with most of the well known directors as well as introducing most of the acclaimed actors and actresses in the history of Indonesian film industry.”





Source link

Tags: AsiabillionaireBuildsHollywoodmogulmovieSoutheast
ShareTweetShareShare
Previous Post

Galaxy Fox meme coin gains traction as crypto sentiment improves By Investing.com

Next Post

US border checkpoint destroyed by Bentley supercar – Daily Mail — RT World News

Related Posts

Gen Merch Retailer Case Research

Gen Merch Retailer Case Research

by Index Investing News
May 28, 2025
0

Managing unmanifested, big-and-bulky buyer returns is a problem for even the most important retailers. Counting on a single purchaser could...

Bitcoin: This Investor Would By no means Purchase, However He Gave Golden Suggestions That Reinforce The Thesis

Bitcoin: This Investor Would By no means Purchase, However He Gave Golden Suggestions That Reinforce The Thesis

by Index Investing News
May 28, 2025
0

This text was written byComply withGreater than 5 years of expertise in fairness evaluation in LatAm. We offer our shoppers...

India’s development extra steady in FY26 and FY27 as China falters: EY report

India’s development extra steady in FY26 and FY27 as China falters: EY report

by Index Investing News
May 28, 2025
0

India's development is projected to be comparatively extra steady, at 6.2 per cent in FY26 and 6.3 per cent in...

IIP Progress Slows To 2.7% In April

IIP Progress Slows To 2.7% In April

by Index Investing News
May 28, 2025
0

India's industrial output progress slowed to 2.7% in April, as towards the revised progress of three% within the previous month...

PepsiCo India posts ₹1,172 crore revenue in CY24 on sturdy meals, beverage development

PepsiCo India posts ₹1,172 crore revenue in CY24 on sturdy meals, beverage development

by Index Investing News
May 28, 2025
0

Jagrut Kotecha, CEO of PepsiCo India & South Asia PepsiCo India reported a web revenue of ₹1,172 crore in CY24,...

Next Post
US border checkpoint destroyed by Bentley supercar – Daily Mail — RT World News

US border checkpoint destroyed by Bentley supercar – Daily Mail — RT World News

The best NBA games ever played on Thanksgiving or Christmas

The best NBA games ever played on Thanksgiving or Christmas

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Avalanche (AVAX) May Be Down, But It’s Not Out, Here’s Why

Avalanche (AVAX) May Be Down, But It’s Not Out, Here’s Why

October 21, 2022
Europe’s farm protests: Here are some of the grievances

Europe’s farm protests: Here are some of the grievances

February 1, 2024
Texas A&M needs to adjust expectations after handing Jimbo Fisher a golden parachute

Texas A&M needs to adjust expectations after handing Jimbo Fisher a golden parachute

November 12, 2023
Watch Ripple CEO Brad Garlinghouse communicate reside on SEC authorized battle

Watch Ripple CEO Brad Garlinghouse communicate reside on SEC authorized battle

October 26, 2024
How Many Square Feet Does ,500 a Month Get You?

How Many Square Feet Does $1,500 a Month Get You?

May 19, 2023
The fitting to relevance: South Africa’s place within the AI-driven future

The fitting to relevance: South Africa’s place within the AI-driven future

March 22, 2025
Opinion – Political Positionality and the Struggle within the Ukraine

Opinion – Political Positionality and the Struggle within the Ukraine

March 26, 2022
Meta announces ad expansion on Reels test as it looks to boost monetization

Meta announces ad expansion on Reels test as it looks to boost monetization

May 9, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In