SINGAPORE - Content producer mm2 Asia and music personality Dick Lee have announced a joint venture company to engage in music, creative direction, consultancy and other services, it was announced on Friday.

The company has entered into a non-binding Memorandum of Understanding with Mr Lee to set up the JVC with an initial issued and paid-up capital of S$1000, with mm2 holding 51 per cent stake in the company and Mr Lee holding the remaining 49 per cent.

The expected total investment of the JVC is approximately S$400,000, the company said in a press release.

Mr Lee, 59, is a Singaporean pop singer, composer, songwriter and playwright. He is also a familiar face as a Singapore Idol judge.

mm2 Asia produces movies, and content for online and television media.