mm2 Asia: Overindulging can lead to indigestion

SHARES of local movie producer mm2 Asia have marched south ever since it failed in an attempt to buy 50 per cent of Golden Village's Singapore cinema business and acquired Cathay Cineplexes' Singapore operations instead.

So when mm2 said last week that it had brought in the script doctors and will undertake a strategic review to enhance shareholder value, the stock perked up a little, closing at S$0.375 on Monday.

The company said it wants to lift its corporate profile in North Asia, and explore the possibility of a foreign listing of some of its key assets, which could include its cinema operations. mm2 has also appointed Chinese brokerage Haitong Securities as its financial adviser.