mm2 Asia's Associated Company Receive Letters of Demand; Shares Surge Over 33%

MT Newswires

Sep 04

Subsidiaries of mm2 Asia's (SGX:1B0) associated company, mm Connect, MM2 Star Screen and MM2 Screen Management, received letters of demand from The Walt Disney Company (Southeast Asia) and The Walt Disney Company (Malaysia), in connection with the liquidation of Cathay Cineplexes.

Shares of the company were up over 33% in Thursday trading.

The Walt Disney Company (Southeast Asia) and The Walt Disney Company (Malaysia) are seeking payment of 558,193 ringgit from MM Star Screen and 670,319 ringgit from MM2 Screen, respectively, in film license fees, according to a Wednesday filing with the Singapore Exchange.

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