mm2 Asia receives S$2.6 million claim from Frasers Centrepoint Trust
Entertainment company mm2 Asia said on Monday (Oct 27) that it received an originating claim and statement of claim from Frasers Centrepoint Trust (FCT) for S$2.6 million.
The claim was received on Friday and relates to obligations by mm2-owned Cathay Cineplexes at Causeway Point.
Cathay Cineplexes is currently undergoing voluntary liquidation, having ceased operations on Sep 1.
Cathay Cineplexes in July received repayment demands from FCT for a sum exceeding S$3.3 million in rental arrears and for other items for its outlets at Century Square and Causeway Point.
The latest claim follows Standard Chartered’s payment demand on Thursday for S$905,000 of debt.
On Aug 4, mm2 said it has received eight letters of demand for a total of S$17.6 million outstanding, but can continue as a going concern. The company had also brought in a restructuring specialist.
Shares of mm2 Asia ended on Friday flat at S$0.003.
