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mm2 Asia Ltd. ( (SG:1B0) ) has issued an update.
mm2 Entertainment Pte. Ltd., a subsidiary of Singapore-listed media group mm2 Asia Ltd., has been served with an Originating Claim and Statement of Claim in the High Court of Singapore by investor Mr. Yi, relating to alleged outstanding amounts under various investment agreements for movie productions and a refundable deposit for a television series. The claim seeks payment of S$6.32 million in guaranteed returns plus interest, disclosure of project profit and loss statements, additional investor profits and interest at contractual and court rates, as well as costs and other relief the court deems fit; the board is currently taking legal advice and has cautioned shareholders and potential investors to exercise care when dealing in the company’s securities pending further updates, underscoring potential financial and reputational implications for the group.
The most recent analyst rating on (SG:1B0) stock is a Hold with a S$0.01 price target. To see the full list of analyst forecasts on mm2 Asia Ltd. stock, see the SG:1B0 Stock Forecast page.
More about mm2 Asia Ltd.
mm2 Asia Ltd., incorporated in Singapore, operates as a media and entertainment group through subsidiaries such as mm2 Entertainment Pte. Ltd., with a focus on investing in and producing movie and television content in the region.
Average Trading Volume: 342,200
Technical Sentiment Signal: Sell
Current Market Cap: S$19.61M
For an in-depth examination of 1B0 stock, go to TipRanks’ Overview page.