SINGAPORE (Dec 5): Singapore sovereign wealth fund GIC has announced it is investing 3.5 trillion Indonesian rupiah ($370 million) in Indonesia cinema operator PT Nusantara Sejahtera Raya (NSR).

In a joint statement on Monday, GIC and NSR say the strategic partnership will set up NSR for the next stage of growth and expand its cinema footprint within Indonesia.

"The investment by GIC reflects our confidence in Indonesia’s long-term growth potential,” says Amit Kunal, Head of Direct Investments Group for South East Asia, Private Equity & Infrastructure, GIC.

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