mm2 Asia Malaysia unit gets RM1.3 million payment demand from Antenna Entertainments
[SINGAPORE] Media company mm2 Asia on Friday (Sep 5) announced that its subsidiary in Malaysia, MM2 Screen Management, received a payment demand of around RM1.3 million (S$396,000) from Antenna Entertainments.
The sum owed is over film distribution agreements, a writ of summons and statement of claim from MM2 Screen Management said.
The payment was due on Sep 2, the same day Antenna filed the claim in the High Court of Malaya.
In addition, Antenna is also seeking legal costs and interest on the outstanding sum, at the rate of 5 per cent per annum, starting from the date of the filing until the payment is fully settled.
The company said that the board of MM2 Screen Management is seeking legal advice with respect to the claim and will respond accordingly.
On Wednesday, mm2 Asia said that MM2 Screen Management and its other subsidiary MM2 Star Screen had received letters of demand from Disney for a payment of around RM1.2 million.
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The sum was allegedly for film licence fees owed since November 2023 for movie screenings in Malaysia, although the two subsidiaries had not screened Disney films since June 2024, mm2 Asia said.
This comes as mm2 Asia wound up its cinema chain, Cathay Cineplexes, on Sep 1.
The cinema chain, which owes money to landlords of several of its outlets, had attempted to negotiate settlements with creditors but failed to arrive at mutual agreements with them, mm2 Asia said.
Since the start of 2025, Cathay Cineplexes has received a string of payment demands from landlords of its various cinemas and shuttered several of its Singapore outlets – Jem outlet in March and West Mall outlet in February.
The cinema chain in January received payment demands of around S$2.7 million from the landlords of two of its outlets at malls owned by Frasers Centrepoint Trust, Century Square and Causeway Point.
It received a claim of around S$1 million for the West Mall outlet, submitted by Alprop on behalf of the mall’s landlord UOL Group, and a S$3.4 million payment demand from the Jem outlet landlord Lendlease Global Commercial Reit.
In July, mm2 Asia said that it was considering closing its cinema chain as the industry has been facing challenges since Covid-19.
Shares of mm2 Asia ended on Friday flat at S$0.003, before the news.
