mm2 Asia Ltd Annual Update 2015; Shares Up 295%; Acquired Majority Stake in Vividthree Productions and Two Cinemas

FY2015 was an eventful year for mm2 Asia. In 1Q2015, mm2 acquired a majority stake in Vividthree Productions, an award-winning 3D animation and VFX company. The Company also raised over S$6m in capital through convertible bonds to expand its businesses.

In a strategic move to expand the Company’s business in the film value chain, mm2 completed the acquisition of 2 cinemas in Malaysia from Cathay Cineplexes Sdn Bhd and signed a binding term sheet to acquire 3 cinemas in North Malaysia. With the incorporation of a new indirect wholly-owned subsidiary, CFO Mr Tay Joo Heng  was redesignated to CEO of mm2 Screen Management Sdn Bhd to manage the Group’s cinema businesses and Group Financial Controller Mr Chong How Kiat was promoted to Group CFO.

In December 2015, the Group announced a share split of 1:2 as well as a placement to raise S$5 million in capital. Continuing its expansion into North Asia, mm2 also signed an MOU to develop television, film and digital content with Hesheng Media, a leading media company in China.

ABOUT MM2 ASIA

Headquartered in Singapore, mm2 Asia is a producer of movies and TV/online content. As a producer, mm2 Asia provides services that cover the entire filmmaking process including securing financing, producing and distributing as well as securing advertising and sponsorship. In addition to Singapore, mm2 Asia also has a presence in Malaysia, Hong Kong, Taiwan and the PRC through its group of companies and/or strategic working partnerships.

mm2 Asia has co-produced and/or distributed in excess of 20 movies across Asia since 2008 including co-producing well-known films such as the ‘Ah Boys to Men’ series; and distributing titles such as Malaysia’s ‘The Journey’ and Taiwan’s ‘Café.Waiting.Love’.