mm2Asia to buy two Malaysia cinemas for S$14.9m

Visual from the company website

Fresh from its deal to acquire a controlling stake in Vividthree Productions, Singapore based film producer and distributor SGX-listed mm2Asia is now looking to buy two cinemas in Malaysia from Cathay Cineplexes for RM40 million (S$14.9 million).

CCSB operates cinemas at two locations in Malaysia with a combined total of 30 screens – Cathay Cineplex City Square that now holds 14 screens with a total 2,826 seats and Cathay Cineplex Damansara which has16 screens with a total of 2,472 seats.

“The proposed acquisition is in line with the company’s intention to diversify and expand into business opportunities in the value chain of film production. The company believes this will complement its current and future businesses, strengthening its competitive advantage through the ownership of cinemas, as well as providing a source of recurring income to the group,” the company said in a regulatory filing with SGX.

Also Read: SG film producer mm2Asia acquires controlling stake in Vividthree

Film producer mm2 lists on SGX with $6m IPO

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.