| Latest Forum Topics / MM2 Asia Last:0.003 -- |
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MM2 Asia [1B0.si]
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n3wbie
Elite |
02-Oct-2023 23:25
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Dont think any new investors would really want to step in to this given the state of affairs - probably more of an average down for the incumbent major shareholders. They end up owning 40+% of the company so question is also what is their exit plan / strategy thereafter?
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LowLow12
Elite |
02-Oct-2023 22:59
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During 2014-2016 they behaved so ya ya papaya asking big boys to push and push their share price
They never expect today to be in this alarming state. Owed so much monies Melvin , you listened to wrong advices from wrong people that?s why today mm2 so bad shape. Never over leverage to over expand This is what you get when you became too f Ambitious |
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Elf2000
Elite |
02-Oct-2023 16:53
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1 for 2 right @2cts 50% discount on the previous 4cts closed price? Is a sunset business... 0.015ct right I also still need to consider whether worth it or not. Now most of the viewer watching online show especially Netflix etc...
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ThroneKingdom
Senior |
02-Oct-2023 10:22
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Entertainment industry cannot make money 1, ususally is those oversea big filim company who got strong support maybe can survive singapore market is to small unless there are dark side happening behind these 2 fellows
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Joelton
Supreme |
02-Oct-2023 10:05
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Tycoons Oei and Goi back mm2 Asia' s 1-for-2 rights issue
mm2 Asia is tapping shareholders again for funds with, a plan to raise up to $34.9 million in net proceeds with a rights issue, which is supported by both its second and third largest shareholders.
Under terms of a rights issue announced on Sept 29, mm2 Asia 1B0 -2.5% , whose business of producing content and organising concerts was hit during the pandemic, is offering existing shareholders the chance to subscribe for 1 new share for every 2 shares they now hold, at 2 cents each.
At this price, it represents a significant 50% discount off mm2' s last traded price of 4 cents. The company' s share price is down 20% year to date and changed hands at its peak of 48 cents back in Jan 2017.
&ldquo We are making strong headway towards a full post-Covid recovery and are now looking ahead at future growth for our respective business segments," says executive chairman Melving Ang.
" We are building from a position of resilience, strength and expertise in the media and entertainment industry in Asia, and the proceeds will go towards our ongoing efforts to deleverage our group&rsquo s financial position, as well as fund our growth strategy and allow us to take advantage of the emerging trends," says Ang.
The company wants to allocate around half of the proceeds raised to pare debt, and another half for general working capital needs.
mm2, which operates cinemas as well, has a current base of 2.79 billion shares. Assuming all entitled shareholders take up their rights shares, the share base will increase by 1.78 billion to 5.3 billion shares.
In conjunction with the rights issue, tycoons Oei Hong Leong and Sam Goi Seng Hui, holding respective stakes of 8.45% and 6.41% respectively, have committed to take up their entitlement.
In addition, they will subscribe to excess rights shares - subject to a cap of 591.2 million - not taken up by otherwise entitled shareholders.
Under such a scenario where no other shareholders can be interested to take up the rights shares as well, Oei and Goi' s respective shareholdings will increase to 22.57% and 20.93% respectively.
In a separate announcement, mm2 Asia says that subsidiary mmLive is raising $18 million from investors including Hildrics Capital in the form of convertible debt securities.
The debt securities carry a coupon of 6% per year and has a maturity of three years.
On May 20, the company reported revenue of $134.3 million for FY2023 ended March, up 60.8% y-o-y, with higher revenue from both its production and concert businesses.
However, its loss widened to $122.5 million from $42.1 million, with a big chunk of $117.7 million in impairment booked for its cinema business.
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ThroneKingdom
Senior |
02-Oct-2023 09:58
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drop so much i check whether i am still holding any this stocks | ||||
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ThroneKingdom
Senior |
02-Oct-2023 09:57
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I was badly burn by golden finger OHL when he massive selldown Raffles Edu, i run at 47 suffer huge loss | ||||
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Elf2000
Elite |
02-Oct-2023 09:51
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Whatever company that old man involved I will get out fast.
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ozone2002
Supreme |
02-Oct-2023 09:50
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Last:0.028  -0.012dilution in favour to the 2 billionaires only coy asking for more funds is usually in dire straits |
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Stocky901
Supreme |
02-Oct-2023 09:48
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Post-Rights share price usually below rights price. 🤔 🤔 0.019 soon.. | ||||
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vicloo
Supreme |
02-Oct-2023 09:41
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If the billionaire not selling any shares post rights issue and keep buying shares in market... price might have to go up no choice lol.
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Elf2000
Elite |
02-Oct-2023 09:38
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Not encourage to touch this, many times got play out by this old man!
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vicloo
Supreme |
02-Oct-2023 09:38
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Terrible indeed, anyone is buying in now?
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commando
Master |
02-Oct-2023 09:34
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Short? Lol
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Elf2000
Elite |
02-Oct-2023 09:25
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Horrible! Rights issue at 2cts! That is 50% discount on the previous closed price! | ||||
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ozone2002
Supreme |
02-Oct-2023 09:18
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2 billionaire backers issuing rights for MM2 https://www.straitstimes.com/business/mm2-asia-plans-to-raise-funds-to-strengthen-balance-sheet-grow-business |
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Observers
Elite |
02-Oct-2023 08:53
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? | ||||
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Joelton
Supreme |
07-Sep-2023 10:53
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mm2 Asia&rsquo s concert arm deepens partnership with Unipact HK to create the largest live entertainment presence in Asia
mm2 Asia&rsquo s 1B0 0.00% concert arm, mmLive, has signed a subscription agreement with Unipact HK for exchangeable bonds valued at HK$19 million ($3.3 million).
The bonds issued by Unipact may be exchanged by mmLive for a total investment of HK$19 million and into 5% of the total number of shares in Unipact.
The partnership, which will make mmLive a shareholder in Unipact over time, means both parties will have access to the most comprehensive artiste line-up and market coverage spanning Singapore, Malaysia, Hong Kong, Taipei, China and Southeast Asia, says mm2 Asia.
Unipact is one of the few integrated concert organisers in Hong Kong that has the capacity to provide technical production and creative solution services for large-scale and extra-large-scale concert projects.
The exercise has been facilitated by mm2 Asia&rsquo s arranger, UOB Kay Hian, and financial adviser, Haitong International Securities (Singapore) Pte. Ltd. Hildrics Capital is the early anchor investor and strategic business partner of mmLive.
&ldquo We have seen the incredible demand for live events in Asia. Working together with the Unipact group and our existing network and resources, we would be participating in another Asian concert powerhouse team, to create multi-leg, multi-territory show opportunities. This in turn will grow our market presence, and create greater value for our shareholders,&rdquo says Melvin Ang, mm2 Asia&rsquo s executive chairman.
&ldquo We are very pleased to extend our cooperation with the mm2 Group through actively supporting the strategic development of the pan-Asian live entertainment industry. We are excited for the opportunity to work with mm2 in their businesses across the whole entertainment industry &ndash from movies and dramas, visual effects, cinemas and concerts and we look forward to leveraging the synergies between the different media businesses and our vast China business network,&rdquo says Dominic Choi, managing director of Unipact.
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ozone2002
Supreme |
07-Sep-2023 10:07
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Making inroads to live concert entertainment to the Big markets in China
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QueenMaya
Senior |
07-Sep-2023 09:17
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mm2 Asia inks strategic deal with concert organiser Unipact HK SINGAPORE - In a deal which could potentially give it a direct exposure to the vast China market, Singapore-listed mm2 Asia has signed an exchangeable bond deal with one of Hong Kong&rsquo s largest integrated concert organisers, Unipact HK. In an announcement on Wednesday night, mm2 said that its concert arm mmLive has signed a subscription agreement with Unipact HK for exchangeable bonds valued at HK$19 million ($3.3 million). The bonds issued by Unipact may be exchanged by mmLive for 5 per cent of the total number of shares in Unipact. mm2 Asia said the deal would make mmLive a shareholder in Unipact over time, giving both parties access to a comprehensive artiste line-up and market coverage spanning Singapore, Malaysia, Hong Kong, Taipei, China and the rest of South-east Asia. The big diamond in the deal is the vibrant Northeast Asia market, and the China market in particular. Unipact is one of the largest technical and creative solutions providers in the live entertainment market and one of the top concert organisers in Hong Kong. Singapore-based mm2 Asia is one of the biggest concert organisers in South-east Asia. It wholly owns leading concerts and events organiser UnUsual. Catalyst-listed Unusual has emerged as a major player in the concert scene in Singapore and Malaysia over the past year, bringing in top billed stars such as Jackie Cheung, Aaron Kwok, Westlife and JJ Lin. In a statement, Melvin Ang, mm2 Asia&rsquo s executive chairman, noted that this deal comes amid a huge surge in demand for entertainment and live events in Asia after economies reopened following the Covid-19 pandemic. &ldquo Working together with the Unipact group and our existing network and resources, we would be participating in another Asian concert powerhouse team, to create multi-leg, multi-territory show opportunities,&rdquo he pointed out. &ldquo This in turn will grow our market presence, and create greater value for our shareholders.&rdquo Dominic Choi, managing director of Unipact, said the tie up would enable both companies to leverage on their individual strengths and capture a larger Asia-Pacific market. &ldquo We are excited for the opportunity to work with mm2 in their businesses across the whole entertainment industry &ndash from movies and dramas, visual effects, cinemas and concerts and we look forward to leveraging the synergies between the different media businesses and our vast China business network,&rdquo he said. mm2 Asia shares closed at 4 cents on Wednesday prior to the announcement.
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