mm2 Asia conducts strategic review, exploring possibility of foreign listing

mm2 Asia conducts strategic review, exploring possibility of foreign listing

By: 
Michelle Zhu
20/09/18, 08:11 am

SINGAPORE (Sept 20): mm2 Asia, whose CEO Chang Long Jong is on The Edge Singapore's cover this week, has appointed Haitong International Securities to conduct a strategic review of the group’s businesses.

Through the review process, mm2 aims to enhance its corporate profile, branding and market awareness in the North Asia markets where it currently operates.

It also hopes to explore the possibility of seeking “a foreign listing of some of the group’s key assets and/or businesses, which may include the cinema operations, to further enhance shareholder value”.

In its filing to the SGX on Wednesday, the group emphasises there is no assurance that the strategic review will result in a corporate exercise or its intended results.

mm2’s latest announcement comes amid its proposed spin-off and listing of its subsidiary Vividthree Productions, a visual effects company with the rights to produce the virtual reality (VR) exhibition of Korean hit movie Train to Busan.

The group spun off its concert production business, UnUsUaL, in a Catalist listing last year.

Shares in mm2 closed 1.35% higher at 38 cents on Wednesday.

Will Wilmar's stricter environmental controls bear fruit?

SINGAPORE (Dec 11): Wilmar International last week signed a joint statement with Aidenvironment Asia, a not-for-profit consultancy in the field of sustainable production and trade, to reaffirm its commitment to “break the link between oil palm cultivation and deforestation, peatland development and social conflicts”. The Dec 7 document was primarily signed between Wilmar chairman and CEO Kuok Khoon Hong and Eric Wakker, Aidenvironment’s co-founder. It comes with Wilmar’s plans to immediately suspend suppliers found involved in deforestation or new development on peatland from Jan....
Read More >>

Singapore's property measures to tame residential market in 2019

(Dec 11): Just when Singapore’s residential property market was reviving after a four-year slump, government moves to curb the exuberance might play spoiler going into the new year. Home prices that are forecast to climb as much as 10% this year could remain flat in 2019 and may decline as much as 3%, estimates from property brokers compiled by Bloomberg News show. Home sales that lagged behind 2017 levels this year may once again be below that mark in 2019, according to forecasts. “The market has come to a standstill,” said Lee Nai Jia, Knight Frank’s head of research in Singapo....
Read More >>

Great Eastern deepens footprint in Indonesia with $38 mil acquisition

SINGAPORE (Dec 11): Great Eastern Holdings is acquiring QBE Indonesia for US$28 million ($38.4 million) in cash to deepen its footprint in Indonesia and build up its general insurance operations into a significant business pillar for the group. QBE Indonesia has a rich history in the Indonesian general insurance market dating back more than 100 years, providing comprehensive insurance solutions to businesses, professionals and families. Wholly-owned subsidiary Great Eastern General Insurance (GEG) on Monday entered into a share purchase agreement to acquire 100% of the shares in PT QBE G....
Read More >>
Active management can deliver attractive returns amid tightening liquidity, says Charles Schwab

SINGAPORE (Dec 10): In the last few years, passive fund management has become increasingly popular a