Pyramid Saimira enters into Chin-Share price rose by Rs.24

Thebullishtrends: Pyramid Saimira shares are trading at Rs. 314.85(-Rs.24.45) Pyramid Saimira Theatre Ltd has informed that Pyramid Saimira signs Memorandum of Cultural Cooperation with CSMRB, Ministry of Culture, Government of People's Republic of China and also a Joint Venture Agreement with Longzhe Group - forms a new JV "Jiangsu Pyramid Longzhe Group""Pyramid Saimira Theatre Ltd (PSTL) has now entered the Chinese market.

PSTL will bring cultural specialist in the field of Arts, Film, TV, Music & Dance. CSMRB will also offer policy guidelines and business consultations for PSTL's foray in China's cultural industry.Further to the agreement above, A new joint venture Company Jiangsu Pyramid Longzhe Group supported and approved by China Society Music Research Board (CSMRB), which is under the Ministry of Culture of the People's Republic of China, has been formed to operate theatres / distribute films and engage in other entertainment / arts & cultural activities in China.

The MOU between PSTL and CSMRB was signed at Beijing, in the presence of top delegate from the Chinese government. As part of cultural co relation agreement CSMRB & PSTL successfully presented Ey Aa O, a cultural exchange event between the two countries in Nanjing. As a part of the exchange, PSTL had brought a huge cultural delegation that had performed twice in Nanjing and their 3rd show was in Beijing on March 19, 2008 at China Child Art Theatre Hall, Beijing.

It is a matter of great pride for PSTL not only to enter China but also to organize for a cultural show in the year that the Olympics would take place.China has a regulated entry on arts / culture / films and hence this entry of Pyramid Saimira group symbolizes the credibility the group enjoys and a dawn of new refigured entertainment industry in mainland china.Mr. P S Saminathan,, MD — Pyramid Saimira Group, said "It is a matter of great pride for our company, to sign the agreement with CSMRB. It is a great honor to pyramid Saimira group to get entry into china's highly regulated growing culture & entertainment industry. Pyramid Saimira always believed in faster growth and expanding in uncharted territories.