Company Watch
Cathay cinema operator mm2 Asia sees light at the end of the tunnel
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mm2 Asia announced it was closing The Cathay Cineplex in Handy Road as part of a "cost rationalisation process".
ST PHOTO: DESMOND WEE
SINGAPORE - Fears of mm2 Asia sinking under a mountain of debt are overdone, said the company's founder and executive chairman Melvin Ang.
The mainboard-listed company, which owns the Cathay cinema franchise in Singapore, earlier this month announced it was closing The Cathay Cineplex in Handy Road as part of a "cost rationalisation process". But in an exclusive interview with The Straits Times, Mr Ang said mm2 is well on its way to strengthening its balance sheet and boosting its earnings.
