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Latest Forum Topics / MM2 Asia    Last:0.003 --  Post Reply
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Joelton
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30-May-2026 13:35     
 
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mm2 Asia H2 net loss widens to S$166.6 million amid fair-value losses

FY2026 revenue plunges 95.9% on the year, amid a 99% decline in sales by its content business

[SINGAPORE] Former Cathay Cineplexes operator mm2 Asia posted a net loss of S$166.6 million for its second half ended Mar 31, widening from a net loss of S$101.3 million in the year-ago period.

In tandem, its basic loss per share (LPS) from continuing operations stood at S$0.0215 for the six months, from a basic LPS of S$0.0194 in the previous corresponding period.

For H2 FY2026, it reported negative revenue of S$1.7 million, down from a revenue of S$46.4 million in the year-ago period it attributed this to fair-value losses from its film and entertainment investments.

For the half-year, it recorded a S$10.3 million loss on fair-value changes in its investments in its films and entertainment events. This, with an H2 revenue of S$8.7 million excluding fair-value losses, resulted in the negative revenue of S$1.7 million at the time that revenue was recognised.

The group did not declare a dividend for the period.

For the FY2026, mm2 Asia&rsquo s net loss widened to S$206.3 million, from S$105.2 million in the previous financial year.

Its full-year basic LPS was S$0.0275, up from S$0.0164 in FY2025.

Full-year revenue down 95.9%

Revenue for FY2026 plunged 95.9 per cent year on year (yoy) to S$4.7 million, from S$112.5 million. This was driven by lower contributions from the content business, which posted a 99 per cent yoy drop in sales to S$1.1 million, from S$109.8 million in FY2025.

The declines came as the content business logged lower production revenue, from completing fewer projects than in the previous year. The business also logged lower distribution income and management fees revenue, along with increased fair-value losses on investments in films and entertainment events.

For FY2026, cost of sales rose by around 52.5 per cent to S$138.5 million, from S$90.8 million in FY2025. This was attributed to the cost charge out by the content business, in relation to projects that were no longer commercially viable.

Mm2 Asia said that material uncertainties remain in relation to the outcome and timing of its restructuring exercises, funding initiatives and overall recovery plans.

The company intends to focus on prudent cash flow management, cost optimisation and operational discipline, while it evaluates opportunities to strengthen its financial position and support its remaining core businesses.

The group also plans to continue leveraging its experience and capabilities in content development and production, while maintaining a &ldquo disciplined and cautious approach amid the evolving industry landscape&rdquo .

Shares of mm2 Asia closed flat at S$0.003 on Friday, before the news.
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TraderBen
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29-May-2026 21:35     
 
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 Alert Admin 		Game over alrdy this. No revenue anymore. Just let go of all the good subsidiaries and close shop better. Don?t be like ezion last time .. die die wanna hold on
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tongphlp
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02-Apr-2026 15:07     
 
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 Alert Admin 		writing has been on the wall...
playing for time

Joelton      ( Date: 02-Apr-2026 08:03) Posted:



mm2 Asia proposed $15 mil share placement agreement with UOB Kay Hian lapses

Media entertainment and content company mm2 Asia says it has let a proposed placement of $15 million with UOB Kay Hian lapse after the terms of the placement agreement were not satisfied.

According to a filing made by mm2 Asia on April 1, the lapse and termination of the agreement is not expected to have a material adverse impact on the company&rsquo s consolidated net tangible assets per share and earnings per share for the financial year ending March 31, 2027.

mm2 Asia first entered into the agreement with its placement agent UOB Kay Hian on July 4, 2025. The placement round would have seen mm2 Asia issue 1.875 billion shares at 0.8 cents apiece. If successful, the placement shares would have made up 22.3% of the company&rsquo s enlarged issued and paid-up share capital.

In an earlier filing on Oct 3, mm2 Asia said it had extended the placement agreement&rsquo s cut-off date by six months to March 31 from Sep 30.

The placement agreement would have offered a lifeline to the cash-strapped company which has received multiple letters of demand for payment over the past few months. After deducting the placement fees, mm2 Asia planned to use $7.5 million of the proceeds to repay its debts and liabilities, and the remaining $6.5 million to finance general capital working purposes.

On March 9, mm2 Asia announced that it was pursuing a separate $15 million placement arrangement with Hildrics Asia Growth Fund VCC. As part of the deal, mm2 Asia will also be raising $10 million from existing shareholders via a rights issue. The VCC belongs to Hildrics Capital, an existing investor in businesses related to mm2 Asia.

mm2 Asia suspended trading of its shares on Nov 11 after its board assessed that it could not prove that it is able to continue as a going concern. Its shares last traded at 0.3 cents on Nov 10.

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tongphlp
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02-Apr-2026 10:10     
 
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 Alert Admin 		send in the undertakers

Joelton      ( Date: 02-Apr-2026 08:04) Posted:



Cathay Cineplexes operator mm2 Asia&rsquo s 1.9-billion share lifeline dead in the water

The placement was meant to raise S$14 million for debt repayment and other uses

[SINGAPORE] A S$14 million fundraising plan by beleaguered Cathay Cineplexes operator mm2 Asia : 1B0 0% to raise monies for debt repayment through a placement of some 1.9 billion shares has fallen through, the entertainment company said on Wednesday (Apr 1).

The placement agreement, which aimed to offer shares at a minimum of S$0.008 apiece, &ldquo has lapsed and terminated and is of no further effect&rdquo , mm2 Asia said. This is because conditions under the agreement were not satisfied by the extended cut-off date of Tuesday.

mm2 Asia does not expect the lapse and termination of the placement agreement to have material adverse impact on its consolidated net tangible assets per share and earnings per share for the financial year ending Mar 31, 2027.

This comes as the company on Mar 9 announced a separate share placement plan, alongside a rights issue, to raise funds for restructuring and working capital needs through a partnership with private equity fund, Hildrics Asia Growth Fund VCC.

In January, it received a S$200,000 payment demand, adding to a growing list of payment demands it has received throughout 2025. This was from solicitors representing Ace Financial Services, a Singapore-based accounting firm, in relation to alleged non-payment of the S$200,000 sum and interest and legal costs.

Proposed placement

The debt-saddled company had on Jul 4, 2025, entered the placement agreement with UOB Kay Hian, the placement agent, as part of &ldquo ongoing efforts to strengthen its financial position and to provide funding for the repayment of the group&rsquo s debts and outstanding liabilities&rdquo .

The failed placement was also meant to improve mm2 Asia&rsquo s cash flow and support its working capital requirements.

Under the scheme, it aimed to procure subscriptions for around 1.9 billion ordinary shares in its share capital, to raise net proceeds of around S$14 million. Of this, S$7.5 million was to be used for the repayment of debts and liabilities, while S$6.5 million would be allocated for general working capital purposes.

The placement price was to be set at either a minimum price of S$0.008 per share, or the volume-weighted average price (VWAP) per ordinary share of the company&rsquo s shares traded on the Singapore Exchange (SGX) over 30 consecutive days before the date shareholders approve the placement.

The minimum placement price represented a premium of around 14.3 per cent to the VWAP of S$0.007 for trades done on the SGX for the full market day on Jul 4, 2025.

If the placement had succeeded, the 1.9 billion placement shares would account for around 22.3 per cent of mm2 Asia&rsquo s enlarged share capital.

Shares of the company last closed at S$0.003 before the counter was suspended on Nov 11, 2025.

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tongphlp
Supreme
02-Apr-2026 08:50     
 
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 Alert Admin 		goes to show MM2 is already hopeless and white knights think it is best not to be salvaged or touched...
all run road already

Joelton      ( Date: 02-Apr-2026 08:03) Posted:



mm2 Asia proposed $15 mil share placement agreement with UOB Kay Hian lapses

Media entertainment and content company mm2 Asia says it has let a proposed placement of $15 million with UOB Kay Hian lapse after the terms of the placement agreement were not satisfied.

According to a filing made by mm2 Asia on April 1, the lapse and termination of the agreement is not expected to have a material adverse impact on the company&rsquo s consolidated net tangible assets per share and earnings per share for the financial year ending March 31, 2027.

mm2 Asia first entered into the agreement with its placement agent UOB Kay Hian on July 4, 2025. The placement round would have seen mm2 Asia issue 1.875 billion shares at 0.8 cents apiece. If successful, the placement shares would have made up 22.3% of the company&rsquo s enlarged issued and paid-up share capital.

In an earlier filing on Oct 3, mm2 Asia said it had extended the placement agreement&rsquo s cut-off date by six months to March 31 from Sep 30.

The placement agreement would have offered a lifeline to the cash-strapped company which has received multiple letters of demand for payment over the past few months. After deducting the placement fees, mm2 Asia planned to use $7.5 million of the proceeds to repay its debts and liabilities, and the remaining $6.5 million to finance general capital working purposes.

On March 9, mm2 Asia announced that it was pursuing a separate $15 million placement arrangement with Hildrics Asia Growth Fund VCC. As part of the deal, mm2 Asia will also be raising $10 million from existing shareholders via a rights issue. The VCC belongs to Hildrics Capital, an existing investor in businesses related to mm2 Asia.

mm2 Asia suspended trading of its shares on Nov 11 after its board assessed that it could not prove that it is able to continue as a going concern. Its shares last traded at 0.3 cents on Nov 10.

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tongphlp
Supreme
02-Apr-2026 08:27     
 
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 Alert Admin 		Mati Man 2

Joelton      ( Date: 02-Apr-2026 08:04) Posted:



Cathay Cineplexes operator mm2 Asia&rsquo s 1.9-billion share lifeline dead in the water

The placement was meant to raise S$14 million for debt repayment and other uses

[SINGAPORE] A S$14 million fundraising plan by beleaguered Cathay Cineplexes operator mm2 Asia : 1B0 0% to raise monies for debt repayment through a placement of some 1.9 billion shares has fallen through, the entertainment company said on Wednesday (Apr 1).

The placement agreement, which aimed to offer shares at a minimum of S$0.008 apiece, &ldquo has lapsed and terminated and is of no further effect&rdquo , mm2 Asia said. This is because conditions under the agreement were not satisfied by the extended cut-off date of Tuesday.

mm2 Asia does not expect the lapse and termination of the placement agreement to have material adverse impact on its consolidated net tangible assets per share and earnings per share for the financial year ending Mar 31, 2027.

This comes as the company on Mar 9 announced a separate share placement plan, alongside a rights issue, to raise funds for restructuring and working capital needs through a partnership with private equity fund, Hildrics Asia Growth Fund VCC.

In January, it received a S$200,000 payment demand, adding to a growing list of payment demands it has received throughout 2025. This was from solicitors representing Ace Financial Services, a Singapore-based accounting firm, in relation to alleged non-payment of the S$200,000 sum and interest and legal costs.

Proposed placement

The debt-saddled company had on Jul 4, 2025, entered the placement agreement with UOB Kay Hian, the placement agent, as part of &ldquo ongoing efforts to strengthen its financial position and to provide funding for the repayment of the group&rsquo s debts and outstanding liabilities&rdquo .

The failed placement was also meant to improve mm2 Asia&rsquo s cash flow and support its working capital requirements.

Under the scheme, it aimed to procure subscriptions for around 1.9 billion ordinary shares in its share capital, to raise net proceeds of around S$14 million. Of this, S$7.5 million was to be used for the repayment of debts and liabilities, while S$6.5 million would be allocated for general working capital purposes.

The placement price was to be set at either a minimum price of S$0.008 per share, or the volume-weighted average price (VWAP) per ordinary share of the company&rsquo s shares traded on the Singapore Exchange (SGX) over 30 consecutive days before the date shareholders approve the placement.

The minimum placement price represented a premium of around 14.3 per cent to the VWAP of S$0.007 for trades done on the SGX for the full market day on Jul 4, 2025.

If the placement had succeeded, the 1.9 billion placement shares would account for around 22.3 per cent of mm2 Asia&rsquo s enlarged share capital.

Shares of the company last closed at S$0.003 before the counter was suspended on Nov 11, 2025.

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Joelton
Supreme
02-Apr-2026 08:04     
 
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Cathay Cineplexes operator mm2 Asia&rsquo s 1.9-billion share lifeline dead in the water

The placement was meant to raise S$14 million for debt repayment and other uses

[SINGAPORE] A S$14 million fundraising plan by beleaguered Cathay Cineplexes operator mm2 Asia : 1B0 0% to raise monies for debt repayment through a placement of some 1.9 billion shares has fallen through, the entertainment company said on Wednesday (Apr 1).

The placement agreement, which aimed to offer shares at a minimum of S$0.008 apiece, &ldquo has lapsed and terminated and is of no further effect&rdquo , mm2 Asia said. This is because conditions under the agreement were not satisfied by the extended cut-off date of Tuesday.

mm2 Asia does not expect the lapse and termination of the placement agreement to have material adverse impact on its consolidated net tangible assets per share and earnings per share for the financial year ending Mar 31, 2027.

This comes as the company on Mar 9 announced a separate share placement plan, alongside a rights issue, to raise funds for restructuring and working capital needs through a partnership with private equity fund, Hildrics Asia Growth Fund VCC.

In January, it received a S$200,000 payment demand, adding to a growing list of payment demands it has received throughout 2025. This was from solicitors representing Ace Financial Services, a Singapore-based accounting firm, in relation to alleged non-payment of the S$200,000 sum and interest and legal costs.

Proposed placement

The debt-saddled company had on Jul 4, 2025, entered the placement agreement with UOB Kay Hian, the placement agent, as part of &ldquo ongoing efforts to strengthen its financial position and to provide funding for the repayment of the group&rsquo s debts and outstanding liabilities&rdquo .

The failed placement was also meant to improve mm2 Asia&rsquo s cash flow and support its working capital requirements.

Under the scheme, it aimed to procure subscriptions for around 1.9 billion ordinary shares in its share capital, to raise net proceeds of around S$14 million. Of this, S$7.5 million was to be used for the repayment of debts and liabilities, while S$6.5 million would be allocated for general working capital purposes.

The placement price was to be set at either a minimum price of S$0.008 per share, or the volume-weighted average price (VWAP) per ordinary share of the company&rsquo s shares traded on the Singapore Exchange (SGX) over 30 consecutive days before the date shareholders approve the placement.

The minimum placement price represented a premium of around 14.3 per cent to the VWAP of S$0.007 for trades done on the SGX for the full market day on Jul 4, 2025.

If the placement had succeeded, the 1.9 billion placement shares would account for around 22.3 per cent of mm2 Asia&rsquo s enlarged share capital.

Shares of the company last closed at S$0.003 before the counter was suspended on Nov 11, 2025.
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Joelton
Supreme
02-Apr-2026 08:03     
 
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mm2 Asia proposed $15 mil share placement agreement with UOB Kay Hian lapses

Media entertainment and content company mm2 Asia says it has let a proposed placement of $15 million with UOB Kay Hian lapse after the terms of the placement agreement were not satisfied.

According to a filing made by mm2 Asia on April 1, the lapse and termination of the agreement is not expected to have a material adverse impact on the company&rsquo s consolidated net tangible assets per share and earnings per share for the financial year ending March 31, 2027.

mm2 Asia first entered into the agreement with its placement agent UOB Kay Hian on July 4, 2025. The placement round would have seen mm2 Asia issue 1.875 billion shares at 0.8 cents apiece. If successful, the placement shares would have made up 22.3% of the company&rsquo s enlarged issued and paid-up share capital.

In an earlier filing on Oct 3, mm2 Asia said it had extended the placement agreement&rsquo s cut-off date by six months to March 31 from Sep 30.

The placement agreement would have offered a lifeline to the cash-strapped company which has received multiple letters of demand for payment over the past few months. After deducting the placement fees, mm2 Asia planned to use $7.5 million of the proceeds to repay its debts and liabilities, and the remaining $6.5 million to finance general capital working purposes.

On March 9, mm2 Asia announced that it was pursuing a separate $15 million placement arrangement with Hildrics Asia Growth Fund VCC. As part of the deal, mm2 Asia will also be raising $10 million from existing shareholders via a rights issue. The VCC belongs to Hildrics Capital, an existing investor in businesses related to mm2 Asia.

mm2 Asia suspended trading of its shares on Nov 11 after its board assessed that it could not prove that it is able to continue as a going concern. Its shares last traded at 0.3 cents on Nov 10.
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tongphlp
Supreme
10-Mar-2026 16:27     
 
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 Alert Admin 		u just nailed it

TraderBen      ( Date: 10-Mar-2026 15:52) Posted:

Hildrics is helmed by UOB scicons right?

 

tongphlp      ( Date: 10-Mar-2026 15:23) Posted:

For a simple reason - UOB is being owed too much...look at mm2 debts....taking a gamble....all or nothing.
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TraderBen
Supreme
10-Mar-2026 15:52     
 
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 Alert Admin 		Hildrics is helmed by UOB scicons right?

 

tongphlp      ( Date: 10-Mar-2026 15:23) Posted:

For a simple reason - UOB is being owed too much...look at mm2 debts....taking a gamble....all or nothing..

Joelton      ( Date: 10-Mar-2026 10:51) Posted:



Hildrics Capital to support mm2 Asia' s restructuring with $15 mil placement $10 mil rights issue planned

Hildrics Asia Growth Fund VCC has entered into a term sheet to support beleaguered entertainment company mm2 Asia by investing $15 million via a placement.

Hildrics Capital is an existing investor in businesses related to mm2 Asia.

The VCC is under Hildrics Capital, whose CEO Choo Kee Siong is a former managing director with UOB' s commercial banking group. Wee Teng Chuen, a son of UOB CEO Wee Ee Cheong, is an executive director and COO of the firm.

According to mm2 Asia in its March 9 announcement, the funds are to be used to restructure the company and to beef up its working capital.

As part of this deal, mm2 Asia is to also call for a rights issue and raise $10 million from existing shareholders.

Additional terms of these deals are to be finalised.

mm2 Asia shares have been suspended since Nov 11, as it faces mounting demands from creditors all over.


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tongphlp
Supreme
10-Mar-2026 15:23     
 
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 Alert Admin 		For a simple reason - UOB is being owed too much...look at mm2 debts....taking a gamble....all or nothing..

Joelton      ( Date: 10-Mar-2026 10:51) Posted:



Hildrics Capital to support mm2 Asia' s restructuring with $15 mil placement $10 mil rights issue planned

Hildrics Asia Growth Fund VCC has entered into a term sheet to support beleaguered entertainment company mm2 Asia by investing $15 million via a placement.

Hildrics Capital is an existing investor in businesses related to mm2 Asia.

The VCC is under Hildrics Capital, whose CEO Choo Kee Siong is a former managing director with UOB' s commercial banking group. Wee Teng Chuen, a son of UOB CEO Wee Ee Cheong, is an executive director and COO of the firm.

According to mm2 Asia in its March 9 announcement, the funds are to be used to restructure the company and to beef up its working capital.

As part of this deal, mm2 Asia is to also call for a rights issue and raise $10 million from existing shareholders.

Additional terms of these deals are to be finalised.

mm2 Asia shares have been suspended since Nov 11, as it faces mounting demands from creditors all over.

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Joelton
Supreme
10-Mar-2026 10:51     
 
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Hildrics Capital to support mm2 Asia' s restructuring with $15 mil placement $10 mil rights issue planned

Hildrics Asia Growth Fund VCC has entered into a term sheet to support beleaguered entertainment company mm2 Asia by investing $15 million via a placement.

Hildrics Capital is an existing investor in businesses related to mm2 Asia.

The VCC is under Hildrics Capital, whose CEO Choo Kee Siong is a former managing director with UOB' s commercial banking group. Wee Teng Chuen, a son of UOB CEO Wee Ee Cheong, is an executive director and COO of the firm.

According to mm2 Asia in its March 9 announcement, the funds are to be used to restructure the company and to beef up its working capital.

As part of this deal, mm2 Asia is to also call for a rights issue and raise $10 million from existing shareholders.

Additional terms of these deals are to be finalised.

mm2 Asia shares have been suspended since Nov 11, as it faces mounting demands from creditors all over.
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Joelton
Supreme
10-Mar-2026 10:50     
 
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mm2 Asia proposes share placement, rights issue with private equity fund

Proposed transactions part of company&rsquo s overall restructuring, as it aims to strengthen capital base, improve working capital position

[SINGAPORE] Entertainment group mm2 Asia is looking to work with a private equity fund to raise funds for its restructuring and working capital needs, the mainboard-listed group said on Monday (Mar 9).

The company aims to raise funds via a share placement and a rights issue, pursuant to a term sheet agreement it entered into on Mar 4 with a wholly owned subsidiary of Hildrics Asia Growth Fund VCC, a private equity fund that provides growth capital to mid-tier South-east Asian enterprises.

Hildrics Asia in September entered into a placement deal to  raise its stake in mm2 Asia&rsquo s subsidiary Vividthree  from 7.98 per cent to 29 per cent.

The term sheet will terminate on the 60th day from the date of signing, unless mutually extended by the parties in writing. The entertainment group said that it will not pursue equity funding transactions with other parties without Hildrics Asia&rsquo s consent for a period of 60 days from the signing of the term sheet.

The proposed transactions are part of mm2 Asia&rsquo s overall restructuring, as the company aims to strengthen its capital base and improve its working capital position.

&ldquo The board believes that the proposed transactions are in the best interests of the company and its shareholders as they will improve the company&rsquo s financial position,&rdquo stated mm2 Asia.

Under the proposed placement, Hildrics Asia will invest and subscribe for new ordinary shares with an aggregate consideration of S$15 million. The proceeds from this are intended to fund mm2 Asia&rsquo s restructuring and working capital.

The proposed rights issue is intended to raise up to S$10 million, which will be fully underwritten by Hildrics Asia. Proceeds from the rights issue, after deducting expenses, will be used to finance mm2 Asia&rsquo s working capital needs.

The proposed transactions are subject to the fulfilment of various conditions, mm2 Asia said. These conditions include approvals from creditors, requisite judicial and regulatory approvals &ndash including the grant of a whitewash waiver by the Securities Industry Council &ndash and, if required, the approval of shareholders.

Payment demands

This comes as the company continued to receive payment demands from creditors after it sought aHigh Court moratorium  on Nov 10, to prohibit winding-up resolutions from being passed for a four-month period.

The board said then that mm2 Asia is unable to demonstrate that it can continue as a going concern.

Subsequently, its unit mm2 Entertainment received a  S$6.3 million payment demand  on Dec 28. This concerned alleged arrears linked to investment agreements for movie productions and a refundable deposit for a television series.

The unit on Jan 5 received a  payment demand for S$200,000, relating to the alleged non-payment of the amount, alongside interest and legal costs.

Shares of mm2 Asia have been suspended since Nov 11 they last closed at S$0.003.       
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tongphlp
Supreme
24-Feb-2026 14:24     
 
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 Alert Admin 		for a soon to collapse co but still hiring?.....
 

MM2 ENTERTAINMENT PTE. LTD.

Administration Executive / Manager


MCF-2026-0264272

1002 JALAN BUKIT MERAH 159456

Full Time

Fresh/entry level

No exp required

Admin / Secretarial

$2,500to$3,500
Monthly
19  applicationsPosted  12 Feb 2026Closing on 14 Mar 2026

lifeisgood      ( Date: 09-Jan-2026 13:01) Posted:

Actually why would MM2 pay $230 million to buy Cathay Cineplexes? Other than the Cathay brand and a lot of cinema leases, does it have many other valuable assets?
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lifeisgood
Supreme
09-Jan-2026 13:01     
 
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 Alert Admin 		Actually why would MM2 pay $230 million to buy Cathay Cineplexes? Other than the Cathay brand and a lot of cinema leases, does it have many other valuable assets?
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Andy_75
Member
09-Jan-2026 09:44     
 
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 Alert Admin 		Even before the pandemic, you can already see melvin and gang transferring most of their shares to broker nominees. this was always a long shot bet for them. if it didn' t work, at the most pack up and start another company. industry relationships stay with him, not with the listed co mm2. nothing new with all these content production houses.  no 
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TraderBen
Supreme
09-Jan-2026 09:35     
 
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 Alert Admin 		becoming like the embattled O& G giant.. Ezion..

tongphlp      ( Date: 08-Jan-2026 13:49) Posted:

where to find so much $$ to pay?

Joelton      ( Date: 01-Jan-2026 09:50) Posted:

mm2 unit receives payment demand for S$6.3 million from creditor
The letter of demand seeks full payment by Jan 9
 
[SINGAPORE] A unit of embattled entertainment group mm2 Asia has received a payment demand for S$6.3 million, the company said in a Wednesday (Dec 31) bourse filing.
 
The subsidiary, mm2 Entertainment (mm2E), on Dec 28 received a letter of demand from solicitors representing an individual named Yi Xianhuang. This concerned alleged amounts owed under various investment agreements in relation to movie productions, as well as a refundable deposit for a television series, the filing said.
 
The regional film studio, production and distribution company is known for producing works such as the Ah Boys To Men movies, and is a distributor of films such as Detective Chinatown 1900 and Studio Ghibli animated films.
 
The letter seeks full payment by Jan 9, failing which Yi may take action against mm2E without further reference. 
 
Yi had previously sent a letter of demand for S$18.9 million to another of mm2 Asia&rsquo s units, mmLive.
 
Earlier in December, the High Court allowed mm2 Asia to be shielded from creditors and legal proceedings for four months while it works out a restructuring plan. However, the protection does not extend to its subsidiaries, such as mm2E and mmLive.
 
mm2 Asia suspended trading of its shares after its board assessed that the group could not prove its ability to continue as a going concern. The stock last traded at S$0.003 on Nov 10.
 


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Joelton
Supreme
09-Jan-2026 09:22     
 
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Former mm2 Asia subsidiary Vividthree dives 17% on news of payment demand from UOB
Bank wants S$1.2 million repaid within seven days
 
[SINGAPORE] Former mm2 Asia subsidiary   Vividthree   : OMK -11.76%on Wednesday (Jan 7) announced that it received a letter of demand from UOB for nearly S$1.2 million. 
 
Minutes into the opening bell, the stock fell over 17 per cent to S$0.014, leading losses on the Singapore bourse.
 
In 2020, the group obtained a S$5 million temporary bridging loan under a scheme supported by Enterprise Singapore during Covid-19. An outstanding sum of around S$167,300, including interest, remains. 
 
According to the Wednesday bourse filing, the company originally obtained a money market line with a total limit of S$1 million in October 2019. An outstanding sum of around S$1 million, including interest, remains. 
 
The payment of S$1.2 million is due and payable to UOB within seven days. 
 
The statement indicated that the board of the company is of the view that whether Vividthree is able to continue as a going concern will depend on the successful outcomes of these initiatives. 
 
The digital content company on Wednesday evening requested to lift its trading halt. Its shares last closed flat at S$0.02 on Sep 8, 2025, before the trading halt was put in place. 
 
On Sep 10, The Business Times reported that Vividthree will see private equity fund Hildrics Asia Growth Fund VCC take a 29 per cent stake via a S$2.2 million subscription of new shares. 
 
The move replaced a scrapped deal for the fund to buy equity from controlling shareholder mm2 Asia.
 
With the new placement, Vividthree would issue 137.4 million new shares to Hildrics at an issue price of S$0.01615 per share, raising the fund&rsquo s stake in the company from its current 7.98 per cent to 29 per cent of the enlarged share capital. 
 
As for mm2 Asia, its stake was said to be reduced to 23 per cent from 29.9 per cent, following the proposed placement.
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Joelton      ( Date: 01-Jan-2026 09:50) Posted:

mm2 unit receives payment demand for S$6.3 million from creditor
The letter of demand seeks full payment by Jan 9
 
[SINGAPORE] A unit of embattled entertainment group mm2 Asia has received a payment demand for S$6.3 million, the company said in a Wednesday (Dec 31) bourse filing.
 
The subsidiary, mm2 Entertainment (mm2E), on Dec 28 received a letter of demand from solicitors representing an individual named Yi Xianhuang. This concerned alleged amounts owed under various investment agreements in relation to movie productions, as well as a refundable deposit for a television series, the filing said.
 
The regional film studio, production and distribution company is known for producing works such as the Ah Boys To Men movies, and is a distributor of films such as Detective Chinatown 1900 and Studio Ghibli animated films.
 
The letter seeks full payment by Jan 9, failing which Yi may take action against mm2E without further reference. 
 
Yi had previously sent a letter of demand for S$18.9 million to another of mm2 Asia&rsquo s units, mmLive.
 
Earlier in December, the High Court allowed mm2 Asia to be shielded from creditors and legal proceedings for four months while it works out a restructuring plan. However, the protection does not extend to its subsidiaries, such as mm2E and mmLive.
 
mm2 Asia suspended trading of its shares after its board assessed that the group could not prove its ability to continue as a going concern. The stock last traded at S$0.003 on Nov 10.
 

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