mm2 Asia

mm2 Asia still a decent 'buy' even as growth hits a snag, says DBS
SINGAPORE (Nov 16): DBS Vickers Securities is maintaining its “buy” call on mm2 Asia with a lower target price of 50 cents compared to 62 cents previously, after the group’s 1H19 results came in below expectations. To recap, mm2 Asia reported revenue of $113.9 million for 1H19 after 2Q net earnings were hit by higher interest costs, including a one-off charge in relation to its purchase ...
mm2 Asia conducts strategic review, exploring possibility of foreign listing
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 ...
mm2 Asia's China ambitions
SINGAPORE (Sept 14): Chang Long Jong, who took over as mm2 Asia’s CEO in April last year, has his work cut out for him. Last year, mm2 spun off its concert production business, UnUsUaL, in a Catalist listing. Login to read: UnUsUaL takes on China, broadens repertoire Soon, mm2 is listing another subsidiary, Vividthree Productions — a visual effects company that has the rights to ...
Vividthree lodges offer document for spinoff and listing after Monday’s restructuring deal
SINGAPORE (Aug 30): Vividthree Holdings (VVH), the visual effects studio 51% owned by mm2 Asia, on Wednesday lodged its preliminary offer document for the proposed spinoff and listing on the Catalist Board. See: mm2 Asia posts 13.2% increase in 1Q earnings to $7.3 mil Proceeds from the sale of new shares will be used to create VR (virtual reality content) and immersive media, develop or ...
mm2 Asia posts 13.2% increase in 1Q earnings to $7.3 mil
SINGAPORE (Aug 14): mm2 Asia reported 1Q19 earnings increased by 13.2% to $7.25 million, compared to $6.40 million in 1Q18. This came on the back of the group’s revenue almost doubling to $49.0 million from $24.6 million in the previous year. This was mainly contributed by the group’s business assets from Lotus Fivestar Cinemas in Malaysia and a newly acquired subsidiary, Cathay ...
mm2 Asia kept at 'add' by CGS-CIMB on expanding regional clout
SINGAPORE (June 5): CGS-CIMB Securities expects mm2 Asia to continue growing as a regional media and entertainment platform with a thriving production core business. In addition, the research house expects full-year contribution from its Cathay acquisition, better box office performance and improving cost synergies to drive FY19F growth for its cinema operations. In FY18, mm2 posted $192 ...
An entertaining growth story is due to play out for mm2 Asia, says DBS
SINGAPORE (May 30): DBS Vickers Securities is reiterating its “buy” call on mm2 Asia, but with a lower target price of 70 cents compared to 75 cents previously after implementing a downward valuation PEG adjustment for the group, in line with peers. Previously valued at 25 times FY19F earnings, the new target price is now pegged to 21 times, which is slightly lower than consensus’ ...
mm2 Asia reports 42% rise in 4Q earnings to $9 mil on higher sales; FY18 earnings rise 51%
SINGAPORE (May 29): mm2 Asia reported FY18 earnings rose 50.9% to $26.4 million, or 2.34 cents per share, from a year ago. This follows the group’s announcement of a 41.9% rise in 4Q18 earnings to $9 million on the back of a near doubling of revenue to $83.6 million from a year ago. In FY18, group revenue doubled to $192 million from $95.7 million in FY17 mainly due to a 65.4% increase in ...
Maybank initiates coverage of mm2 with 'buy' and 56 cents target
SINGAPORE (Apr 23): Maybank is initiating coverage on media and entertainment conglomerate mm2 Asia with a “buy” and a target price of 56 cents. In a Sunday report, analyst Luis Hilado says, “We believe mm2 is on the cusp of a healthy growth phase, backed by its media and entertainment acquisitions in the past 12 months.” Currently, mm2’s film and event production and distribution ...
Brunei prince and Ron Sim's R3 Asian Gems acquire total 5.39% stake in UnUsUaL for $25.8 mil
SINGAPORE (Apr 16): mm2 Asia has sold a total of $25.8 million worth of shares in UnUsUaL to Prince Abdul Qawi of Brunei and R3 Asian Gems. Prince Qawi is the eldest son of Sultan Mohamed Bolkiah of Brunei while R3 Asian Gems is co-founded and sponsored by Ron Sim of Osim massage chair fame. Both purchasers acquired $22.8 million and $3 million worth of UnUsUaL’s shares, respectively, at ...