mm2 Asia

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% ...
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 ...
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 ...
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 ...
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, ...
mm2 Asia kept at 'add' by CGS-CIMB on rising demand for Asian content
SINGAPORE (Nov 20): CGS-CIMB Securities is maintaining mm2 Asia at “add” as it is seen as a proxy for higher content consumption in the region. mm2 recently announced its maiden co-production with Netflix with the movie “Triad Princess”. In a recent report, analyst Ngoh Yi Sin says while productions under the B2B model tend to command lower margins vs B2C ones which are meant for ...
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 ...