[SINGAPORE] Entertainment company mm2 Asia has obtained approval from the Accounting and Corporate Regulatory Authority (Acra) for an extension of time to hold its annual general meeting by Jan 27, 2026.
It has also been granted more time to file its annual return for FY2025; the former operator of Cathay Cineplexes will now have until Feb 27, 2026 to do so.
This is the second extension mm2 has requested for its AGM. In May, it first applied for a 90-day extension to push the AGM deadline to Oct 29, from Sep 29, and to file its annual report by Nov 29, from Oct 30. These were granted by SGX and Acra in July.
In October, mm2 said it needed another reprieve because it was still securing the necessary funding for its audit, and that its auditors have agreed in principle to start the audit once the company begins progressively repaying its outstanding invoices.
It also cited “complex accounting treatments” – linked to the liquidation of its cinema operations under Cathay Cineplexes, MM2 Star Screen and mm2 Screen Management – that require “careful analysis and discussion”.
These include impairment assessments, recognition of provisions and other technical accounting adjustments, it said.
In November, mm2 Asia reported a net loss of S$39.7 million for the half-year ended Sep 30, widening from the net loss of S$3.9 million for the corresponding period of the year before.
The troubled entertainment group faces mounting payment demands from creditors, including banks and landlords of outlets of its shuttered cinema chain Cathay Cineplexes, which ceased operations and entered voluntary liquidation in September.
Shares in mm2 Asia last traded at S$0.003 before they were suspended on Nov 11.
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