It is really tough for mm2 over the years - the investment into cinemas just before COVID was ill-timed. Just worried that at this rate of loss-making for the company, we arent going to have more nice Singaporean movies which would be a real shame given the amount of good films over the years
Financial Performance Highlights
First Half 2025:
The company achieved a net profit of HK$136.7 million, a significant improvement from a net loss in the first half of 2024, according to Simply Wall Street and MarketScreener.
Full Year 2024:
Orange Sky Golden Harvest recorded a full-year net loss of HK$242.64 million, compared to a net loss of HK$90.4 million in 2023.
Singapore Segment (H1 2024):
Operations in Singapore, under the Golden Village brand, reported a segmental profit of HK$20.0 million for the first half of 2024.
ysh2006 ( Date: 02-Sep-2025 05:23) Posted:
| 80 yrs old business also can go down ....next time see film show need to go JB as over there those cinema still operating , why ? |
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80 yrs old business also can go down ....next time see film show need to go JB as over there those cinema still operating , why ?
finally, the torture is over.
good riddance.
The so called 3 Billoinare shareholders are treating his investment as lesson learn now.
LowLow12 ( Date: 01-Sep-2025 14:02) Posted:
I feel so thankful and lucky to sell all away in 2015/16 season. Almost a decade gone and never expect to see MM2 became so pathetic piece of junk stock.
Alot of players died inside together with those placees.
Disappointed with Melvin Ang management skills.
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0.03 now from 0.1 in less than 1 year.
ysh2006 ( Date: 31-Jul-2025 04:16) Posted:
| Why this company owe people guessing so much money yet share price didn't dropped much ? Any speculating guessing? ... |
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last nail in the coffin..
Joelton ( Date: 29-Aug-2025 12:29) Posted:
mm2 Asia widens net loss by more than 10 times despite revenue gain as cinema scene withers
The biggest blow to its bottom line comes from its share of losses of associated companies
[SINGAPORE] Cathay Cineplexes owner mm2 Asia widened its net loss in the second half of its fiscal year ended Mar 31 by more than 10 times to S$101.3 million from S$8.7 million in the previous corresponding period..
This comes despite a 21 per cent increase in revenue for the six months to S$79.7 million from S$65.9 million in the year-ago period.
The declining financial performance was primarily driven by a lower number of completed projects in the concert and event and cinema business versus the previous financial year, said the media company in its financial statement released on Thursday (Aug 28).
The biggest blow to mm2 Asia&rsquo s bottom line came from its share of losses of associated companies, which stood at S$75 million for the half-year, up by more than nine times from S$7.2 million the previous year.
For the full year, its share of losses of associated companies stood at S$82.8 million, up from S$11.9 million the year before.
The group said that this was mainly due to the write-off of its cinema business mm Connect.
Cost of sales for the six months also increased 60.9 per cent to S$86 million from S$53.5 million the year before.
The increase was attributed to the concert and event business, which incurred higher show fees. This was coupled with a rise in operational costs particularly in professional fees and labour costs, partially driven by global inflationary trends, said mm2 Asia.
Basic loss per share from continuing operations for the half year came in at S$0.0186, compared with S$0.0028 in the corresponding period.
No dividend was declared.
For the full year, mm2 Asia posted a net loss of S$105.2 million, widening the S$5.7 million loss it incurred in the year-ago period.
Revenue came in at S$165.1 million for the full year, down 13.9 per cent from S$191.8 million a year ago.
Basic loss per share for the full year from continuing operations stood at S$0.0193, compared with S$0.0017 the year before.
On its outlook, mm2 Asia said: &ldquo The cinema segment faces pronounced challenges: attendance has not fully rebounded following pandemic-driven disruptions, with competition from streaming platforms and tight operating margins placing pressure on profitability.&rdquo
It continued: &ldquo This is compounded by rising operational costs and evolving audience behaviours, making sustained recovery in the cinema business an uphill battle and prompting consideration of restructuring, mergers or divestiture.&rdquo
Concert and live event operations also reflect cautious optimism, said the company. &ldquo While live entertainment has returned to pre-pandemic levels in many markets, revenue in this segment fluctuates with event cycles, scheduling, and consumer sentiment, suggesting that growth will remain uneven in the near term.&rdquo
That said, the group maintained that movie production remains buoyed by resilient demand for Asian content and a rebound in local titles, all of which position it to maintain growth despite volatility in international releases.
&ldquo The group continues to observe optimistic momentum in movie production, underpinned by regional demand and a strong pipeline of new projects, even as global box office trends gradually recover.&rdquo
mm2 Asia concluded that its strategic direction for the fiscal year is built upon its three core pillars of embracing new tools such as generative artificial intelligence expanding into high-potential adjacent areas, such as interactive media as well as spinning off of non-core divisions to free up capital.
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really bbq liao bbq liao...
tongphlp ( Date: 30-Jul-2025 16:20) Posted:
this time really bbq le....
Joelton ( Date: 30-Jul-2025 11:58) Posted:
mm2&rsquo s Cathay receives more legal letters on outstanding rent
Entertainment group also announces key changes to board and leadership team
[SINGAPORE] Cathay Cineplexes has received additional letters concerning outstanding rent, its parent company mm2 Asia : 1B0 +20% announced in bourse filings on Tuesday (Jul 29), alongside key changes to its board and leadership team.
This follows an earlier update on Jul 17, when the entertainment group said it was evaluating all available options to address its financial challenges including the possible winding up of the cinema chain.
In its latest statement, mm2 Asia informed shareholders that Cathay Cineplexes (CCPL) received a legal claim on Jul 28. The claim, dated Jul 25, was filed in the High Court of Singapore by Lendlease Retail Investments, the former real estate investment trust (Reit) manager for CCPL&rsquo s cinema lease at JEM. That role has since been assumed by DBS Trustee acting in its capacity as trustee of Lendlease Global Commercial Reit.
The claim relates to outstanding rental and other payments owed by CCPL under its lease at JEM, incurred before the change in Reit manager.
According to the filing, the claimant is seeking payment of S$1.98 million in rent up to Mar 31, 2022. In addition, the claimant is asking for interest on the overdue amounts at a contractual rate of 1 per cent per month, calculated daily, amounting to S$1.66 million as at Jul 25. The claim also includes legal costs and any other relief the court deems appropriate.
Additionally, CCPL has received a letter of demand dated Jul 29 from Resorts Concept, the licensor of its premises at E!Hub@Downtown East. The letter demands payment of licence fees, service charges, utilities, interest and related charges totalling S$580,000.
The board of CCPL said it is actively engaged in discussions with Resorts Concept to resolve the outstanding arrears. It is understood that CCPL is currently obtaining legal advice on both matters.
mm2 said it is also seeking its own legal advice in relation to the matters and will make further announcements as and when there are material developments.
New leadership team
Separately, the entertainment group announced key changes to its board and leadership team following a series of resignations, retirement and new appointments.
mm2 said these changes reinforce its &ldquo commitment to strategic financial and operational restructuring to safeguard its future&rdquo .
In view of the current cinema-related creditor negotiations and prolonged financial challenges stemming from the pandemic, mm2 is strengthening its management team and bringing Ang Chiang Meng on board as chief restructuring officer as of Aug 1. He will also join the mm2 board as a non-independent executive director
Ang is co-founder and managing partner of Argile Partners, a regional consultancy firm, and executive director of R& O Company, specialising in corporate and debt restructuring.
mm2 said he is &ldquo uniquely qualified&rdquo to lead mm2&rsquo s debt management and operational reorganisation with decades of cross-border experience.
&ldquo His credentials as a senior accredited director, chartered valuer and restructuring expert will be pivotal in this transition,&rdquo it added.
At the same time, Chang Long Jong, mm2&rsquo s current chief executive officer since April 2017, will retire on Sep 1. The former MediaCorp deputy CEO played a key role in expanding mm2 Asia&rsquo s footprint in the regional entertainment industry.
Executive chairman Melvin Ang will assume interim CEO responsibilities while the board conducts a formal search for a permanent successor.
Meanwhile, Jack Chia will resign as a non-executive and non-independent director of the company effective Jul 31, and will also cease to be a member of the audit committee following his departure.
Gary Goh has been appointed managing director of mm2 Entertainment, succeeding chief content officer Ng Say Yong, who will step down from his current role on Aug 31. Ng will transition to the role of chief content adviser, where he will focus on content development.
Goh&rsquo s promotion is said to &ldquo reflect the board&rsquo s confidence in his ability to steer mm2 through this challenging period and a much-needed injection of fresh resources and expertise&rdquo .
Following these changes, mm2&rsquo s board of directors will comprise Melvin Ang as executive chairman, Ang Chiang Meng as executive director, Lai Hock Meng as lead independent director, Tan Khee Giap and Tan Ching Yee as independent directors, and Choo Kee Siong as a non-executive director.
&ldquo These appointments reflect our commitment to a recovery strategy to ensure the group&rsquo s sustainability to grow the business,&rdquo said Melvin Ang.
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I feel so thankful and lucky to sell all away in 2015/16 season. Almost a decade gone and never expect to see MM2 became so pathetic piece of junk stock.
Alot of players died inside together with those placees.
Disappointed with Melvin Ang management skills.
Usually not possible like Hyflux ...but why share trading not halt leh...?
Will mm2 Asia be able to operating as a going concern after liquidation of CCPL?
mm2 Asia widens net loss by more than 10 times despite revenue gain as cinema scene withers
The biggest blow to its bottom line comes from its share of losses of associated companies
[SINGAPORE] Cathay Cineplexes owner mm2 Asia widened its net loss in the second half of its fiscal year ended Mar 31 by more than 10 times to S$101.3 million from S$8.7 million in the previous corresponding period..
This comes despite a 21 per cent increase in revenue for the six months to S$79.7 million from S$65.9 million in the year-ago period.
The declining financial performance was primarily driven by a lower number of completed projects in the concert and event and cinema business versus the previous financial year, said the media company in its financial statement released on Thursday (Aug 28).
The biggest blow to mm2 Asia&rsquo s bottom line came from its share of losses of associated companies, which stood at S$75 million for the half-year, up by more than nine times from S$7.2 million the previous year.
For the full year, its share of losses of associated companies stood at S$82.8 million, up from S$11.9 million the year before.
The group said that this was mainly due to the write-off of its cinema business mm Connect.
Cost of sales for the six months also increased 60.9 per cent to S$86 million from S$53.5 million the year before.
The increase was attributed to the concert and event business, which incurred higher show fees. This was coupled with a rise in operational costs particularly in professional fees and labour costs, partially driven by global inflationary trends, said mm2 Asia.
Basic loss per share from continuing operations for the half year came in at S$0.0186, compared with S$0.0028 in the corresponding period.
No dividend was declared.
For the full year, mm2 Asia posted a net loss of S$105.2 million, widening the S$5.7 million loss it incurred in the year-ago period.
Revenue came in at S$165.1 million for the full year, down 13.9 per cent from S$191.8 million a year ago.
Basic loss per share for the full year from continuing operations stood at S$0.0193, compared with S$0.0017 the year before.
On its outlook, mm2 Asia said: &ldquo The cinema segment faces pronounced challenges: attendance has not fully rebounded following pandemic-driven disruptions, with competition from streaming platforms and tight operating margins placing pressure on profitability.&rdquo
It continued: &ldquo This is compounded by rising operational costs and evolving audience behaviours, making sustained recovery in the cinema business an uphill battle and prompting consideration of restructuring, mergers or divestiture.&rdquo
Concert and live event operations also reflect cautious optimism, said the company. &ldquo While live entertainment has returned to pre-pandemic levels in many markets, revenue in this segment fluctuates with event cycles, scheduling, and consumer sentiment, suggesting that growth will remain uneven in the near term.&rdquo
That said, the group maintained that movie production remains buoyed by resilient demand for Asian content and a rebound in local titles, all of which position it to maintain growth despite volatility in international releases.
&ldquo The group continues to observe optimistic momentum in movie production, underpinned by regional demand and a strong pipeline of new projects, even as global box office trends gradually recover.&rdquo
mm2 Asia concluded that its strategic direction for the fiscal year is built upon its three core pillars of embracing new tools such as generative artificial intelligence expanding into high-potential adjacent areas, such as interactive media as well as spinning off of non-core divisions to free up capital.
Mkt will tell you the answer.. how can a peanut company make so much losses.. 😔 😔
Newcomer19707016 ( Date: 29-Aug-2025 11:47) Posted:
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I already run at 0.017... good luck to all.
tongphlp ( Date: 25-Aug-2025 09:21) Posted:
run as fast as u can......
vicloo ( Date: 24-Aug-2025 18:57) Posted:
| Basically mm2 will let "MM2 entertainment P/L that controls Cathay cinema" to wind down. Remaining mm2 asia continue to run |
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run as fast as u can......
vicloo ( Date: 24-Aug-2025 18:57) Posted:
Basically mm2 will let "MM2 entertainment P/L that controls Cathay cinema" to wind down. Remaining mm2 asia continue to run.
Joelton ( Date: 05-Aug-2025 09:19) Posted:
mm2 Asia faces S$17.6 million in claims but says it can continue as a going concern
Eight counterparties have issued letters of demand against the company and Cathay Cineplexes
[SINGAPORE] In a bourse filing on Monday (Aug 4), Cathay Cineplexes owner mm2 Asia said it has received eight letters of demand for a total of S$17.6 million outstanding, but can continue as a going concern.
The embattled entertainment group added it is continuing negotiations with each counterparty over the claims.
It also stated that its board had assessed its ability to continue as a going concern, which means that it is expected to be able to operate for the next 12 months. Only about S$4.4 million claimed by four counterparties are secured against the corporate guarantee of the company, which is around S$3.1 million as at Jul 31, said mm2 Asia.
The media company also said it has had &ldquo positive&rdquo negotiations with the group&rsquo s creditors, including its proposed plan to defer a S$54 million bond repayment by six years.
Ongoing cost optimisation initiatives, including a potential winding up of Cathay Cineplexes (CCPL), were also stated as a reason for its ability to continue as a going concern.
mm2 Asia brought in restructuring specialist Ang Chiang Meng as its chief restructuring officer as at Aug 1, saying that he is &ldquo uniquely qualified&rdquo to lead mm2&rsquo s debt management and operational reorganisation.
The company&rsquo s chief executive officer Chang Long Jong is set to retire on Sep 1.
In the filing on Monday, mm2 Asia added that any court orders to pay all demands in full will be &ldquo limited to CCPL&rdquo and will be unlikely to cause an impact on the rest of the mm2 Asia group.
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