mm2 Asia says the company’s wholly-owned Malaysian subsidiary, MM2 Screen Management Sdn Bhd has entered into a sale and purchase agreement with Cathay Cineplexes Sdn Bhd to acquire two cineplexes for MYR 40 million ($13.8 million).
These are Cathay Cineplex Damansara, e@Curve at Mutiara Damansara in Petaling Jaya, Selangor, and Cathay Cineplex City Square, Johor Bahru City Square at Jalan Wong Ah Fook in Johor Bahru.
Cathay Cineplex City Square was established in 2006 and now holds 14 screens with 2,826 seats in total and is the largest multiplex outside the Klang Valley region. Cathay Cineplex Damansara was established in 2006 and holds 16 screens with 2,472 seats in total and is currently the largest multiplex in PJ.
mm2 Asia says it is funding the acquisition through its internal resources and the proceeds of the recently completed issues of convertible and exchangeable notes.
The completion of the Acquisition is expected to be on or before Sept 30.
mm2 Asia is trading flat at 64.5 cents this morning.
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These are Cathay Cineplex Damansara, e@Curve at Mutiara Damansara in Petaling Jaya, Selangor, and Cathay Cineplex City Square, Johor Bahru City Square at Jalan Wong Ah Fook in Johor Bahru.
Cathay Cineplex City Square was established in 2006 and now holds 14 screens with 2,826 seats in total and is the largest multiplex outside the Klang Valley region. Cathay Cineplex Damansara was established in 2006 and holds 16 screens with 2,472 seats in total and is currently the largest multiplex in PJ.
mm2 Asia says it is funding the acquisition through its internal resources and the proceeds of the recently completed issues of convertible and exchangeable notes.
The completion of the Acquisition is expected to be on or before Sept 30.
mm2 Asia is trading flat at 64.5 cents this morning.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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