mm2 Asia Ltd. ( (SG:1B0) ) has provided an update.
mm2 Asia Ltd. announced that its associated company, Cathay Cineplexes Pte. Ltd., has received a notice of termination from DBS Trustee Limited, the landlord of its cinema premises at JEM in Singapore. The termination, effective from March 27, 2025, is due to unresolved rent arrears amounting to over S$4.3 million. As a result, Cathay Cineplexes will cease operations at the affected location. The company is working with the landlord to settle the outstanding amounts and has expressed gratitude for the landlord’s support during challenging times, including the COVID-19 pandemic.
More about mm2 Asia Ltd.
mm2 Asia Ltd. is a Singapore-based company primarily involved in the media and entertainment industry, focusing on the production, distribution, and exhibition of films and television content. The company operates through its subsidiaries, including Cathay Cineplexes, which manages cinema operations.
Technical Sentiment Signal: Buy
Current Market Cap: €45.3M
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