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mm2 Asia Ltd. ( (SG:1B0) ) has issued an announcement.
Cathay Cineplexes Pte. Ltd., an associated company of mm2 Asia Ltd., has received a statutory demand from its landlord, DBS Trustee Limited, for an outstanding rental payment of S$3,446,748.26 for its premises in Singapore. The statutory demand, issued under the Insolvency, Restructuring and Dissolution Act 2018, requires payment or satisfactory arrangement of the debt within three weeks, failing which CCPL may be deemed unable to pay its debts. Both CCPL and mm2 Asia Ltd. are seeking legal advice on the matter, and the company advises shareholders and potential investors to exercise caution.
More about mm2 Asia Ltd.
mm2 Asia Ltd., incorporated in Singapore, operates in the entertainment industry, primarily focusing on cinema operations through its associated company, Cathay Cineplexes Pte. Ltd.
YTD Price Performance: -28.57%
Average Trading Volume: 1,035,750
Technical Sentiment Signal: Sell
Current Market Cap: S$52.29M
For a thorough assessment of 1B0 stock, go to TipRanks’ Stock Analysis page.