As featured on Straits Times

Singapore-listed mm2 Asia announced on Wednesday (July 28) that it has received an offer for its Cathay cinema business from local financial investment firm Kingsmead Properties.

mm2 Asia operates eight Cathay cinemas in Singapore and 13 cinemas in Malaysia, as well as a movie film distribution business.

It entered into a non-exclusive binding term sheet with Kingsmead Properties for the proposed sale of at least 80 per cent of the cinema business.