"We are particularly pleased with the development of Digital
Right Pictures, with a 20.95 per cent increase in sales in 2000, attributable to
the success of its movies such as Scream 3, U-571, Crocodile, Scary Movie and
Python" said Mr. Frankie Cheah, President Designate of DOI.
With a strong new management team now in place, including new executive
appointments covering operations, finance, administration, marketing and Digital
Right Pictures ("DRP"), the Company now expects a major improvement in results
over the course of 2001 for all product lines. The Company's financial position
will be further enhanced with the successful completion of an excess asset sale
programme of all non-core assets.
Mr. Cheah added, "2000 was a year of refocusing for the Company. We have
successfully restructured Baht 1.6 billion of debt, and have repositioned the
Company as Thailand's leading independent manufacturer and distributor of
multimedia products through the introduction and promotion of new technology.
With its emphasis on security over copyrights, DOI is fast becoming a highly
respected and trusted partner for both local and international production
companies by providing a prompt, secure and superior service."
DOI's Chairman, Mr. Itthivat Bhiraleus's comments on the results and future
profitability of the Company were similarly upbeat. "During the course of 2001,
we are confident we will secure major new international clients and subsequently
export led growth will become an important contributing factor to our bottom
line." he said. " The entertainment industry is in constant flux. We are
positioning ourselves for the digital era, and to take advantage of technology
for the delivery of audio cassette, VHS, CD, VCD, DVD as well as digital
satellite distribution of music and video." he continued. "We have invested in
state of the art production equipment and our Rayong production facility and the
Bangkok duplication and distribution center offers world-class service and
security with standards set by the major Hollywood production companies."
Commenting on the new executive management team, Mr. Itthivat Bhiraleus said,
"We have formed a core team of experienced industry experts who all have both
successful track records and passion for the entertainment business. I believe
we have made significant progress over the past quarter, and expect the Company
to post much improved results in 2001 through growth in exiting product line
sales, and through the introduction of many new and exciting licensing
agreements with major regional and international artists and production houses." |
