Singapore’s MM2 Asia Agrees Loss-Making Sale of Cathay Cinema Chain

  • 📰 Variety
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 11%
  • Publisher: 63%

Singaporean entertainment mini-conglomerate mm2 Asia has finalized terms for the sale of Cathay Cineplexes, the country’s third largest cinema chain. The cinema exhibition sector has been badly hur…

United States Headlines News

United States Latest News, United States Headlines

, the country’s third largest cinema chain. The cinema exhibition sector has been badly hurt by closures and restrictions arising from the COVID-19 pandemic and the business will be sold at a loss of S$85 million .

With the unit now valued at S$84.8 million , mm2 will receive S$67.3 million net, after costs. That compares with the S$230 million it paid for the eight-venue business in November 2017. The proceeds will be used to reduce borrowings, repay convertible bonds due in December, and shore up mm2 Asia’s balance sheet. Earlier this year, auditors issued a going concern notice for the group.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 108. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Covid-19 Surge in Asia Threatens Manufacture of Ceramic Bits in iPhones and PlayStationsA 5G smartphone has more than a thousand of the little ceramic bits called MLCCs. Covid-19 is hitting some of the factories that make them. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her earn_with_jens Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success MLCC deeze NUTZ Haha got em And?
Source: WSJ - 🏆 98. / 63 Read more »

Asia-Pacific stocks set to dip; investors watch Chinese video game firms following new rulesInvestors will monitor shares of Chinese video game firms after authorities published new rules limiting the number of hours kids can spend playing online video games. good luck First fake numbers and accountings, now its illegal to discuss bad Chinese economics in the news. But what really makes CCPChina uninvestable is saying no to video games. Right blackrock , Vanguard_Group , GoldmanSachs ?
Source: CNBC - 🏆 12. / 72 Read more »

Hou Hsiao-hsien’s ‘Twisted Strings’ Set as Series Original at HBO Asia and CatchplayLeading Taiwan cinema names Hou Hsiao-hsien (“The Assassin,” “The Puppetmaster”) and Lee Kang-sheng (“Days,” “Goodbye, Dragon Inn”) are attached to “Twisted Strings,” a TV anthology series backed b… Annette 2 looks adorable
Source: Variety - 🏆 108. / 63 Read more »

Asia-Pacific stocks set for mixed start; Meituan earnings aheadInvestors will look ahead to the release of earnings from Chinese food delivery giant Meituan. nice
Source: CNBC - 🏆 12. / 72 Read more »

Plastic pollution threatens migratory species in Asia-Pacific: UNPlastic particles have infiltrated even the most remote and seemingly-pristine regions of the planet, with tiny fragments discovered inside fish in the deepest recesses of the ocean and peppering Arctic sea ice, according to a latest UN report.
Source: trtworld - 🏆 101. / 63 Read more »

Australia is ending its zero-covid strategyAbout a quarter of Australians are fully jabbed, compared with 50-60% of Europeans and Americans. And almost none have acquired immunity naturally, through infection good luck Doh. here’s the latest. 58% of eligible have had at least 1 shot, and 34% of eligible are fully vaxxed- with a lot of momentum
Source: TheEconomist - 🏆 6. / 92 Read more »