The Business Times
business-time-50

Cathay Cineplex has paid back S$12 million owed to landlords; remaining S$2.7 million is a quarter of total sum

mm2 Asia says slower-than-expected recovery of the cinema industry hit the cinema chain’s ability to pay its arrears on a timely basis

Summarise
google-preferred-sourceAdd BT as a preferred source
Tessa Oh

Tessa Oh

Published Thu, Feb 6, 2025 · 11:43 PM
    • mm2 Asia has initiated negotiations with the various lenders for Cathay Cineplex to secure short-term working capital loans.
    • mm2 Asia has initiated negotiations with the various lenders for Cathay Cineplex to secure short-term working capital loans. PHOTO: ST

    THE S$2.7 million in rental arrears by Cathay Cineplex to the landlords of its two cinemas represents a quarter of the total payment it owed between Apr 1, 2020, and Jan 31, 2025.

    The cinema chain, operated by mm2 Asia, has paid back S$12 million in rent owed to the landlords, said the mainboard-listed media company in a bourse filing on Thursday (Feb 6).

    The company was responding to queries from the Singapore Exchange (SGX) on the letters of demand that Cathay Cineplex received for rent and other costs owed.

    mm2 asiaLawsuits

    TRENDING NOW

    National Development Minister Chee Hong Tat says: “The best way is for the government to shape behaviours with the judicious use of market-based incentives, where possible.”

    ABSD deadline extended to up to 7 years for developers of large en bloc sites to encourage reuse of land

    National Development Minister Chee Hong Tat noted that the public housing market has seen a moderation in resale flat prices over the past few quarters, following multiple rounds of cooling measures as resale prices surged.

    15-month wait-out curb lifted for private property owners buying HDB resale flats

    Residential auction demand is primarily driven by upgraders seeking larger family homes and investors eyeing future capital gains, says an analyst.

    Mortgagee-sale listings hit six-year high in H1 2026 as financing conditions tighten

    Justin Quek, CEO of OrangeTee and Deputy Group CEO of Realion Group (right), with Dr Tan Tee Khoon, head of KF Property Network.

    Knight Frank winds down real estate agency unit, agents to move to OrangeTee & Tie

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More