© 2020 Insider Inc. and finanzen.net GmbH (Imprint). The Company is a producer of films, television and online content. Disclaimer | “Based on sum-of-the-parts valuation, and stripping out its stakes in UnUsUaL and Vividthree, the market is valuing the core production and cinema segment at only S$144m, which works out to P/EBITDA of slightly over 2x, which is too low in our view.” -- DBS Research report. Melvin Ang, founder and executive chairman, mm2 Asia. Stock analysis for mm2 Asia Ltd (MM2:Singapore) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Coupled with the current cautious mood, especially for small-mid caps, current valuation is at an attractive level.mm2 paid 13.8x for the Cathay cinema chain in Singapore and about 8-9x for the Malaysia cinemas while peers are trading at about 5.5x P/EBITDA. UnUsUaL has lined up its artistes in various locations including Singapore, China, Hong Kong, Malaysia, Bangkok, and Jakarta while its family entertainment shows, which have a wider target audience reach, provide even greater visibility.
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It operates through the following segments: Core Business, Post and Content Production, Cinema Operations, and Concert and Event. Chan Kit Whye on GENTING SINGAPORE & mm2 ASIA, mm2 ASIA: Revenue streams are non-speculative, Growth at Reasonable Rate: mm2ASIA, CITYNEON, JUMBO, JAPFA, CIMB highlights BEST WORLD, MM2, DUTECH, NERA, REGISTER for email alerts - & to post in forum. Divesting its stakes in UnUsUaL and Vividthree to pare down its debt level is another option to improve its financial matrix. mm2’s share price has fallen by more than half from a high of S$0.645 before it acquired the Cathay cinema business. Updated daily, it takes into Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Thus, the group is exploring various options to improve the financial matrix, especially with its current depressed share price. However, this leads to a smaller free float which could hinder these entities from reaching a wider audience especially when fund raising.
However during this period, mm2 share price had only rose from $0.20 (December 2015) to the current $0.30. Both UnUsUaL and Vividthree have a healthy project pipeline. The Cinema Operations segment pertains to sales of cinema ticket and concession, hall rental, and screen advertising. For example, ownership of cinemas not only provides a source of recurring income but also cost savings as mm2 usually has to pay about 50% of its gross box office proceeds for rental of cinemas. mm2’s share price has fallen by more than half from a high of S$0.645 before it acquired the Cathay cinema business. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. Dividend). Vividthree, on the other hand, is riding on the momentum of the Train to Busan tour set. Registration on or use of this site constitutes acceptance of our. With the acquisition of the Cathay cinema business in Singapore in 2017, the group has taken on debt to fund the acquisition. mm2 Asia Ltd. is an investment holding company.
mm2’s multiple platform capabilities would place the group in a position to better distribute and exhibit content to reach a wider audience.
MM2 ASIA LTD. (1B0.SI) General MM2 ASIA LTD. (1B0.SI) Share Price MM2 ASIA LTD. (1B0.SI) Target Price MM2 ASIA LTD. (1B0.SI) Analysts Say MM2 ASIA LTD. (1B0.SI) Corporate Actions MM2 ASIA LTD. (1B0.SI) Announcements MM2 ASIA LTD. It also reversed from a net cash position to net debt of 0.8x as at Mar-19, with interest coverage of about 4x. With the acquisition of the Cathay cinema business in Singapore in 2017, the group has taken on debt to fund the acquisition. mm2 paid 13.8x for the Cathay cinema chain in Singapore and about 8-9x for the Malaysia cinemas while peers are trading at about 5.5x P/EBITDA. 1) A spinoff / dilute its stake in the cinema business, Based on sum-of-the-parts valuation, and stripping out its stakes in UnUsUaL and Vividthree, the market is valuing the core production and cinema segment at only S$144m, which works out to P/EBITDA of slightly over 2x, which is too low in our view.”. The Concert and Event segment comprises the sales on events production, concerts promotion, and stage sound system and equipment rental. The complete integration of the content business (production of movies, Vividthree) and platform business (Cinema, UnUsUaL) would lead to better efficiency and cost savings for the group. The Core Business segment refers to the production and distribution of motion picture, video, and television program and sponsorship. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. Share price: 23 c. Target: 34 c. mm2 Asia owns 39% stake in listed entity UnUsUaL Ltd and 42% stake in another recently listed entity Vividthree. mm2: Share price down by more than 50% since acquiring Cathay cinemas, mm2 ASIA: "Upgrade to BUY as value emerges". We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Source: FactSet. mm2 ASIA: Fallen market darling or temporarily ignored? To the annoyance of some shareholders, mm2 Asia shares are down a considerable 33% in the last month.That drop has capped off a tough year for shareholders, with the share price … The company was founded by Wee Chye Ang in 2008 and is headquartered in Singapore. Revenue) or per share (e.g. The score provides a forward-looking, one-year measure of credit That said, mm2 can still derive the synergistic effect even with a smaller stake in the cinema business. balance sheet and inputs from the stock market. Going forward, though net debt position is expected to improve to 0.4x in FY Mar 20F, the hefty interest expense is still a drag on the group’s bottomline. In retrospect, mm2 share price did [This is a premium article. The cinema business helps the group to derive synergistic effect from having a full value chain. Moody’s Daily Credit Risk Score is a 1-10 score of a company’s credit risk, based on an analysis of the firm’s Made In NYC |
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