FILM production company mm2 Asia has responded to queries from the Singapore Exchange on certain significant differences between the financial results for FY2019 Q4 ended March 31, 2019 and FY2020 Q1 ended June 30, 2019.
The group also paid S$9.9 million for interest, lease liabilities and borrowings, and used S$18.6 million for investing activities including purchasing film rights and a touring show by the event segment.The firm's trade and other receivables decreased by S$7.3 million to S$173.4 million from S$180.7 million, with one factor being a S$14.9 million net reduction of trade receivables of the group.Other receivables and deposits decreased by S$4.
"Film under production comprises the cost of producing a film, and upon completion, such costs will be classified as film products pending release," said mm2 Asia.
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