Zip Cinema

Spackman’s next major film is on…The Asian Financial Crisis

SINGAPORE (Sept 4): Spackman Entertainment Group, the Korean production group, today announced that the next major film by wholly owned subsidiary, Zip Cinema, will be Sovereign Default.

Sovereign Default is a historical financial thriller depicting the behind‐the‐scenes story of the tumultuous week leading up to the rescue package agreed upon between the International Monetary Fund (IMF) and the Republic of Korea to prevent bankruptcy on the backdrop of the 1997 Asian Financial Crisis.

Spackman kicks off acquisition spree

SINGAPORE (Aug 16): RHB is maintaining its “buy” call on Spackman Entertainment with a target price of 23 cents following the group’s acquisition of Take Pictures, a startup film production company founded by veteran movie producer, Song Dae-Chan.

See: Spackman in discussions to acquire Korean film production company

Spackman in discussions to acquire Korean film production company

SINGAPORE (Aug 14): Spackman Entertainment Group has entered into a memorandum of understanding (MoU) for the proposed acquisition of 100% of the total voting shares in the company with full ownership of Take Pictures, a motion picture production company based in Korea and founded by movie producer Song Dae-Chan.

Take Pictures has developed and owns film projects including The Priests 2, a co-production with Spackman’s indirect wholly-owned subsidiary Zip Cinema.

Spackman to acquire company that leased equipment for ‘The Legend of the Blue Sea’

SINGAPORE (March 15): Spackman Entertainment Group has entered into a sale and purchase agreement to acquire a 100% interest in Korean equipment leasing company Frame Pictures from its owner, for a cash consideration sum of KRW 900 million ($1.1 million).

Additionally, the transaction will include the group’s payment of 497,250 shares from its partially-owned associated company, Spackman Media Group (SMG), to the unnamed vendor, which is only referred to by Spackman as an “independent third party”.

Spackman breaks even with movie Master

SINGAPORE (Dec 29): Spackman Entertainment Group says its crime-action thriller Master produced by subsidiary Zip Cinema surpassed the film’s breakeven point within eight days of its official wide release on Dec 21.

As of Wednesday, Master has recorded total admissions of 3.8 million with gross box office revenue of US$25.3 million ($37 million), according to latest stats from the Korean Film Council.

The stars are aligning for this entertainment stock

SINGAPORE (Nov 11): RHB is keeping its “buy” call on Spackman Entertainment Group” at a target price of 22 cents, with the view that the stock’s outlook is currently at its best since its initial public offering (IPO) in 2014.

 This comes after the entertainment production company on Thursday posted 3Q16 earnings of US$1.5 million ($2.1 million) compared to its loss of US$1 million a year ago.

Say ‘Annyeong-Haseyo’ to the Hallyu star of stocks

SINGAPORE (Oct 13): RHB is initiating coverage on South Korean move producer Spackman Entertainment Group with a “buy” recommendation and price target of 22 cents, noting the group is “probably in the best health since its IPO” in mid-2014 while presently trading at a significant discount to peers.

In a Thursday report, analyst Jarick Seet says Spackman is “primed for a strong turnaround”, especially given a strong interest of Chinese firms in South Korean content providers in the last five years.

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