Cathay cinema at West Mall to close on Feb 20
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Operator mm2 Asia said in a press statement on Feb 17 that the closure is due to the expiry of its lease at West Mall.
PHOTO: ST FILE
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SINGAPORE – The Cathay Cineplex outlet at West Mall in Bukit Batok will close its doors on Feb 20, just eight months after the cinema chain shuttered its AMK Hub outlet.
In a Feb 17 Facebook post, Cathay Cineplexes thanked patrons for their support and said its other outlets will remain open.
Operator mm2 Asia said in a press statement on Feb 17 that the closure is due to the expiry of its lease at West Mall, and was mutually agreed on by the company and the landlord.
“This also aligns with the cinema chain’s rightsizing strategy to optimise its operational footprint,” it said. “The cinema has been undergoing the post-Covid-19 rightsizing exercise for the past two years.”
The cinema at West Mall features six halls and was previously operated by WE Cinemas. Cathay Cineplexes took over in November 2012 and reopened the multiplex in February 2013.
It will undergo reinstatement works after the closure.
Cathay Cineplexes closed its AMK Hub location
With the latest closure, Cathay Cineplexes will have five outlets remaining – Causeway Point in Woodlands, Downtown East in Pasir Ris, Jem in Jurong East, Century Square in Tampines and Clementi 321 in Clementi.
On Feb 14, the cinema chain introduced a promotion for a set of vouchers.
Priced at $100, it includes 10 vouchers which will each allow the holder to redeem one standard movie ticket, one tub of popcorn and one bottle of water at any Cathay Cineplex.
The vouchers can be redeemed from Feb 21. They will be valid on any day, including the eve of public holidays and public holidays.
Earlier in February, it was reported that Cathay Cineplexes had received letters of demand
The landlords of the outlet in Century Square have asked for payment of $479,185.74 in rental arrears and other monies, as well as $893.80 in legal costs.
Meanwhile, the landlord of the chain’s cinema at Causeway Point had asked for $1,000,000 to be paid to its trustee – HSBC Institutional Trust Services – by Feb 3, and $1,203,677.85 by Feb 10. This comprises rental arrears and other monies. It must also pay $555.90 in legal fees.
In response to queries from the Singapore Exchange, mm2 Asia said in a Feb 6 filing on the bourse that it is not disputing the payment amounts, and explained that a portion of its $10.1 million cashflow has been allocated or deployed for use in other businesses within the group.
mm2 Asia said in the same statement that it “is of the opinion that it has sufficient financial resources to fulfil the claims under the letters of demand”.
It added that it is working with the landlords to resolve the issue and will work on a payment schedule. mm2 Asia also said it is looking at how it can strengthen its finances, including engaging potential investors and securing short-term loans.
