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
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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.
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