mm2 Asia

SATS, whose 'digitalisation' is underway, grabs top spot; Silverlake Axis beats peers on ROE

SINGAPORE (Sept 16): SATS, which provides gateway services and catering to the aviation, hospitality, healthcare, freight and logistics, and government sectors, was the runner-up in the 2018 services sector of the Billion Dollar Club. It was edged out by a hair’s breadth by Silverlake Axis.


Analysts expect a more exciting performance from mm2 Asia in FY20

SINGAPORE (June 4): DBS Vickers Securities is upgrading its call on mm2 Asia from “hold” to “buy” while raising its target price by a cent to 34 cents, which is pegged to 16 times FY20F earnings for the core business, and in line with listed peers in Asia.

Meanwhile, CGS-CIMB Research maintains its “add” call on the stock with an unchanged target price of 37 cents.

mm2 Asia's FY19 earnings fall 14.7% to $19.1 mil on net margin decline

SINGAPORE (May 31): mm2 Asia reported $6.2 million in earnings for the 4Q ended March, down 7.5% from $6.7 million a year ago due to lower revenue and expansion costs.

This brings the group’s full year earnings to a total of $19.1 million, representing a 14.7% decline from $22.4 million in FY18.

UnUsUaL reports 32% higher FY19 earnings of $13.2 mil on improved revenue & margins

SINGAPORE (May 27): UnUsUaL Limited has reported $13.2 million in net profit for the FY19 ended March, representing a 32% increase from FY18 net profit of $10 million due to higher revenue and improved margins.

Revenue for the full year rose 22.6% to $56.9 million compared to $46.4 million a year ago.

The topline growth was mainly attributed to higher revenue contributions from the company’s Promotion and Others segments.

mm2 Asia cut to 'hold' by Maybank despite latest box office showing

SINGAPORE (Mar 26): Maybank Kim Eng would rather wait for mm2 Asia’s cinema division to make disclosures in its fiscal-year-end reporting before changing its forecasts.

Good showing at the box office by mm2’s latest movie “More Than Blue” has led to another tie-up with Fox Networks Group Asia which has likely driven the stock’s recent re-rating.

Can mm2 Asia overcome its cinema disappointment?

SINGAPORE (Mar 1): In a few short years since going public, mm2 Asia now owns a chain of cinemas, a concert organiser, a visual effects studio and an online video platform.

But some investors have lost faith in mm2 ever since the company failed to buy a 50% stake in the local cinema business of Golden Village.

Instead of Golden Village, the largest cinema chain in Singapore with a 39% market share, mm2 had to settle for the acquisition of the Singapore operations of Cathay Cineplexes, which had a 27% market share.

mm2 Asia remains a 'buy' for Maybank despite reduced forecasts on non-operational leakage

SINGAPORE (Feb 21): Maybank Kim Eng is maintaining its “buy” call on mm2 Asia while lowering its target price on the stock to 34 cents from 57 cents previously, after cutting 2019-21E core profit forecasts by 48%, 12% and 9%, respectively.

This comes after the group’s 9M19 core profit came in below expectations at 34% of Maybank’s FY19 estimates, and 67% of previous consensus forecasts.

See: mm2 Asia posts 59% drop in 3Q earnings to $2 mil on higher expenses

mm2 Asia posts 59% drop in 3Q earnings to $2 mil on higher expenses

SINGAPORE (Feb 12): Film production company mm2 Asia has reported earnings of $2.0 million for the 3Q19 ended December, 59% lower than earnings of $4.8 million a year ago.

The decline was mainly due to higher administrative and finance expenses during the quarter.

3Q19 revenue jumped 41.3% to $74.1 million, led by contributions from its cinema business which was acquired in 3Q18.

The increase in revenue was also contributed by its core business and event production and concert promotion business.

UnUsUaL reports 21.7% higher 3Q earnings of $3.1 mil despite margin decline

SINGAPORE (Feb 11): UnUsUaL Limited, the Catalist-listed subsidiary of mm2 Asia, reported a 21.7% y-o-y rise in 3Q earnings to $3.1 million compared to $2.5 million a year ago.

The bottomline growth was mainly due to higher revenue for the quarter, which rose 50% to $15.9 million from $10.6 million in 3Q18 due to increased contributions from the Promotion, Production and Other business segments.

Cost of sales rose 78.3% to $10.9 million for the quarter, from $6.1 million a year ago.

FOX Chinese movie channel to invest in mm2 Asia's slate of 4 feature films

SINGAPORE (Dec 10): FOX Networks Group Asia (FNG Asia) flagship Chinese movies channel, SCM will be investing and co-producing a slate of four feature films developed by mm2 Entertainment, a wholly-owned subsidiary of mm2 Asia.

In a media release issued on Friday, FNG says, “FNG’s investment springs from its longstanding commitment to make bold investments in premium original productions, as well as quality acquired content, to ignite imaginations in Asia.”

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