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mm2 Asia Ltd. ( (SG:1B0) ) has shared an announcement.
mm2 Asia Ltd. has received an originating claim from HSBC Institutional Trust Services (Singapore) Limited, acting as Trustee of Frasers Centrepoint Trust, related to a deed of guarantee for its associated company, Cathay Cineplexes Pte. Ltd., which is under voluntary liquidation. The claim seeks a sum of over S$2.6 million, interest, damages, and costs, with the company currently seeking legal advice. This development could impact mm2 Asia’s financial obligations and stakeholder interests, prompting caution among shareholders and investors.
More about mm2 Asia Ltd.
mm2 Asia Ltd. is a company incorporated in Singapore, primarily involved in the entertainment and media industry. The company, along with its subsidiaries, engages in the production, distribution, and exhibition of films and television content, with a focus on the Asian market.
YTD Price Performance: -28.57%
Technical Sentiment Signal: Sell
Current Market Cap: S$19.61M
Find detailed analytics on 1B0 stock on TipRanks’ Stock Analysis page.