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An announcement from mm2 Asia Ltd. ( (SG:1B0) ) is now available.
mm2 Asia Ltd. has clarified that the statutory demands received by its associated company, Cathay Cineplexes Pte. Ltd., pertain to previously disclosed cinema lease liabilities. The company is exploring options to address financial challenges, including negotiating with landlords, pursuing a court-supervised restructuring, or potentially winding up the cinema operations. This situation highlights the ongoing difficulties faced by the cinema and retail industries, exacerbated by the COVID-19 pandemic, and underscores the need for strategic decisions to ensure operational continuity.
More about mm2 Asia Ltd.
mm2 Asia Ltd. is a Singapore-based company operating in the entertainment industry, primarily focusing on cinema operations through its associated company, Cathay Cineplexes Pte. Ltd., which runs the Cathay brand of cinemas in Singapore.
YTD Price Performance: -28.57%
Technical Sentiment Signal: Sell
Current Market Cap: S$45.75M
See more data about 1B0 stock on TipRanks’ Stock Analysis page.