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Manoj Punjabi: Raising the bar for Indonesia's film industry
A year after going public, production house MD Pictures is seeking bigger and better projects to help boost the local filmmaking landscape.
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Movie mogul: Indonesian movie producer Manoj Punjabi poses during a photo shoot at The Jakarta Post's office in Jakarta. (JP/Wienda Parwitasari)
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s the first and so far only Indonesian film company that has been publicly listed in the Indonesia Stock Exchange (IDX), powerhouse MD Pictures has made itself an important player in the industry. And if things go as planned, it could set the rules of the game.
“Transparency is the main reason we went public,” said CEO Manoj Punjabi. “As a public company, we are now out in the open. The public can assess our assets, values, income, archives, facilities and prospects. While it raises the standard of the company, it would ease investors, specifically foreign investors because we’re now on the same playing field as them.”
The Jakarta-based company has set its sights on over-the-top (OTT) media services and digital platforms to distribute its movies on top of traditional movie theaters, television channels and DVD releases.
“We’re looking at the future wherein OTT and digital platforms for movies will grow big. Although it has yet been profitable with the right content and platform, we are ready to take the chance. We are going on the right path for it,” Manoj said.
Founded in December 2002 as Multi Dimensia Entertainment by Manoj and his father Dhamoo Punjabi, the family business started with producing TV drama series, TV movies and eventually feature-length films. Among its productions that have set records are the drama series Cinta Fitri (Fitri's Love) the longest-running TV show ever with 1,002 episodes, the Habibie & Ainun film series, horror flick Danur and the religious drama Ayat-ayat Cinta (Verses of Love).
The popularity of its productions was likely the main reason its stock value skyrocketed more than 345 percent only days after being listed.
“What’s interesting about being a public company is now we have excess funds to expand the business, which will only benefit the national film industry,” Manoj said in a recent interview with The Jakarta Post.
