Aankondiging • Jul 17
mm2 Asia Ltd. has filed a Follow-on Equity Offering in the amount of SGD 14.999304 million. mm2 Asia Ltd. has filed a Follow-on Equity Offering in the amount of SGD 14.999304 million.
Security Name: [New Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,339,110,825
Price\Range: SGD 0.000918
Transaction Features: Subsequent Direct Listing Aankondiging • Apr 02
mm2 Asia Ltd. has withdrawn its Follow-on Equity Offering in the amount of SGD 15 million. mm2 Asia Ltd. has withdrawn its Follow-on Equity Offering in the amount of SGD 15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,875,000,000
Price\Range: SGD 0.008
Transaction Features: Subsequent Direct Listing Aankondiging • Jan 23
mm2 Asia Ltd. Announces Receipt of Originating Claim and Statement of Claim by MM2 ENTERTAINMENT PTE. LTD The Board of Directors of mm2 Asia Ltd. refers to the announcement made by the Company on 31 December 2025 in respect of the Letter of Demand received by mm2E from solicitors representing Mr. Yi. Unless otherwise defined herein, capitalised terms used in this announcement shall have the meanings ascribed to them in the Announcement. The Board wishes to update that mm2E, has on 20 January 2026, been served with an Originating Claim and Statement of Claim (collectively, the "Claim") filed by Mr. Yi, in the General Division of the High Court of the Republic of Singapore (the "Court"). The Claim is in relation to, inter alia, the Outstanding Amount, which is alleged to be owing under various investment agreements in relation to movie productions, as well as a refundable deposit for a television series. Mr. Yi is seeking the following reliefs against mm2E: payment of SGD 6,324,074.88, being the admitted aggregate total outstanding guaranteed returns on investment plus interest payable under the relevant investment agreements; an order for mm2E to provide the project profit and loss statements pursuant to its obligations under the relevant investment agreements; payment of the net amount of investor's profit due and payable to Mr. Yi by mm2E under the relevant investment agreements; payment by mm2E to Mr. Yi of interest on the outstanding amounts under the relevant investment agreements at the contractual rate of 5% per annum until the date of the Claim; interest of 5.33% per annum on any amount adjudged to be payable by mm2E to Mr. Yi from the date of the Claim to the date of full repayment; costs; and such other orders or relief as the Court deems fit. The Board is currently seeking legal advice in respect of the matter and will make further announcements as and when there are material developments. The Company reserves all its rights in the meantime. Reported Earnings • Nov 15
First half 2026 earnings released: S$0.006 loss per share (vs S$0.001 loss in 1H 2025) First half 2026 results: S$0.006 loss per share (further deteriorated from S$0.001 loss in 1H 2025). Revenue: S$40.0m (down 54% from 1H 2025). Net loss: S$39.7m (loss widened S$35.8m from 1H 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 19 percentage points per year, which is a significant difference in performance. Board Change • Sep 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Founder, Chief Restructuring Officer & Executive Chairman Melvin Ang is the most experienced director on the board, commencing their role in 2014. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 29
Full year 2025 earnings released: S$0.019 loss per share (vs S$0.002 loss in FY 2024) Full year 2025 results: S$0.019 loss per share (further deteriorated from S$0.002 loss in FY 2024). Revenue: S$165.1m (down 17% from FY 2024). Net loss: S$98.8m (loss widened S$93.2m from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 7 percentage points per year, which is a significant difference in performance. Board Change • Aug 06
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Founder, Chief Restructuring Officer & Executive Chairman Melvin Ang is the most experienced director on the board, commencing their role in 2014. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Market cap is less than US$100m (S$58.8m market cap, or US$45.6m). Aankondiging • May 29
Hildrics Asia Growth Fund I managed by Hildrics Capital Pte. Ltd. entered into a sale and purchase agreement to acquire 21.02% stake in Vividthree Holdings Ltd. (Catalist:OMK) from mm2 Asia Ltd. (SGX:1B0) for SGD 1.7 million. Hildrics Asia Growth Fund I managed by Hildrics Capital Pte. Ltd. entered into a sale and purchase agreement to acquire 21.02% stake in Vividthree Holdings Ltd. (Catalist:OMK) from mm2 Asia Ltd. (SGX:1B0) for SGD 1.7 million on May 28, 2025. A cash consideration of SGD 0.01734 per Sale Share will be paid by Hildrics Capital.
The transaction is subject to financial and non-financial due diligence on Vividthree, mm2 having procured that the Sale Shares are, at the time of transfer to the Purchaser, free from any and all encumbrances, liens, charges, pledges, security interests, claims, or any other third-party rights or restrictions of any kind, approval of Shareholders of mm2, approval from Vividthree’s banker having been obtained and transfer of the Sale Shares upon the terms and conditions of the SPA not being prohibited, restricted, curtailed, hindered, impaired or otherwise adversely by any statute, order, rule, regulation, directive, guideline or request (whether or not having the force of law) promulgated by any legislative, executive or regulatory body. The expected completion of the transaction is May 30, 2025.
The proceeds from the Proposed Disposal are intended to be used by mm2 to repay the mm2 and its subsidiaries outstanding liabilities. New Risk • Jan 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Singaporean stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Shareholders have been substantially diluted in the past year (134% increase in shares outstanding). Minor Risk Market cap is less than US$100m (S$71.9m market cap, or US$52.5m). New Risk • Nov 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 134% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (134% increase in shares outstanding). Minor Risk Market cap is less than US$100m (S$117.6m market cap, or US$88.4m). Aankondiging • Nov 05
mm2 Asia Ltd. has completed a Follow-on Equity Offering in the amount of SGD 39.945419 million. mm2 Asia Ltd. has completed a Follow-on Equity Offering in the amount of SGD 39.945419 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,349,730,500
Price\Range: SGD 0.017
Transaction Features: Subsequent Direct Listing Aankondiging • Sep 26
mm2 Asia Ltd. Appoints Tan Ching Yee as Independent Director mm2 Asia Ltd. announced appointment of Ms. Tan Ching Yee ("Ms. Tan") as Independent Director. Appointment date is September 26, 2024. Job Title is Non-Executive and Independent Director - Member of Audit, Remuneration and Nominating Committees. Working Experience is Managing Director, Global Clients Meta, Singapore (2021 - Present) Chief Commercial Officer, Board Director Into University Partnerships, Singapore (2019 - 2021) Board Member Interactive Advertising Bureau Southeast Asia and India (2017 - 2020) Global VP/GM, Retail and Corporate Director, APAC Tripadvisor, Singapore (2012 - 2019). Director Experience Details: The Company will arrange for Ms. Tan to attend the training prescribed by the Exchange on the roles and responsibilities of a director of a listed company within one (1) year from the date of appointment. Professional Qualifications is Double Executive Masters BA, 2016 - University of California, Los Angeles and National University of Singapore - Certificate In Finance, 2012 - NSEAD - Bachelor of Mass Communication, 2000 - Monash University. Following the aforesaid appointment, Ms. Tan has also been appointed as Chairman of the Remuneration Committee in place of Mr. Lai Hock Meng and a member of the Audit Committee in place of Dr. Tan Khee Giap. Following the abovementioned changes, the composition of the Board of Directors and Board Committees are as follows: - Board of Directors: Mr. Melvin Ang Wee Chye (Executive Chairman), Mr. Lai Hock Meng (Lead Independent Director), Dr. Tan Khee Giap (Independent Director), Ms. Tan Ching Yee (Independent Director), Mr. Jack Chia Seng Hee (Non-Executive Director), and Mr. Choo Kee Siong (Non-Executive Director). Audit Committee: Mr. Lai Hock Meng (Chairman), Ms. Tan Ching Yee (Member), and Mr. Jack Chia Seng Hee (Member). Nominating Committee: Dr. Tan Khee Giap (Chairman), Mr. Lai Hock Meng (Member), and Mr. Melvin Ang Wee Chye (Member). Remuneration Committee: Ms. Tan Ching Yee (Chairman), Dr. Tan Khee Giap (Member), and Mr. Choo Kee Siong (Member). Aankondiging • Jul 17
mm2 Asia Ltd., Annual General Meeting, Jul 31, 2024 mm2 Asia Ltd., Annual General Meeting, Jul 31, 2024, at 13:30 Singapore Standard Time. Location: 87 science park drive, the oasis, level 4 auditorium, singapore 118260, Singapore Reported Earnings • Jun 04
Third quarter 2024 earnings released: S$0.001 loss per share (vs S$0.001 loss in 3Q 2023) Third quarter 2024 results: S$0.001 loss per share (in line with 3Q 2023). Revenue: S$34.5m (down 45% from 3Q 2023). Net loss: S$4.87m (loss widened 41% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Aankondiging • Jun 02
Mm2 Asia Ltd. Announces Resignation of Tan Liang Pheng as Lead Independent Director, Chairman of Remuneration Committee and Member of Audit Committee and Nominating Committee mm2 Asia Ltd. announced Mr. Tan has served on the Board of Directors (the "Board") of the Company for more than nine years. In view of the nine-year tenure limit for Independent Directors prescribed under the Listing Manual of the Singapore Exchange Securities Trading Limited, Mr. Tan has decided to step down and resign with effect from 31 May 2024 to facilitate board renewal. Following Mr. Tan's resignation, Mr. Tan shall cease to be Chairman of Remuneration Committee and a member of Audit Committee and Nominating Committee. Other DirectorShips Present: Kimeda Pte. Ltd. New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (9.1% average weekly change). Shareholders have been diluted in the past year (50% increase in shares outstanding). Market cap is less than US$100m (S$87.9m market cap, or US$65.1m). New Risk • Jan 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 50% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (50% increase in shares outstanding). Market cap is less than US$100m (S$92.1m market cap, or US$68.7m). Reported Earnings • Nov 16
First half 2024 earnings released: EPS: S$0.001 (vs S$0.002 loss in 1H 2023) First half 2024 results: EPS: S$0.001 (up from S$0.002 loss in 1H 2023). Revenue: S$128.7m (up 63% from 1H 2023). Net income: S$2.96m (up S$8.36m from 1H 2023). Profit margin: 2.3% (up from net loss in 1H 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. New Risk • Oct 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Singaporean stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 50% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (S$83.7m market cap, or US$61.0m). Reported Earnings • Jul 21
Full year 2023 earnings released: S$0.008 loss per share (vs S$0.004 loss in FY 2022) Full year 2023 results: S$0.008 loss per share (further deteriorated from S$0.004 loss in FY 2022). Revenue: S$134.3m (up 61% from FY 2022). Net loss: S$21.4m (loss widened 112% from FY 2022). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Aankondiging • Jul 17
mm2 Asia Ltd., Annual General Meeting, Jul 31, 2023 mm2 Asia Ltd., Annual General Meeting, Jul 31, 2023, at 13:00 Singapore Standard Time. Location: One Marina Boulevard, Level 8 - Room 801 NTUC Business Centre, Singapore 018989 Singapore Singapore Agenda: To receive and adopt the Directors' Statement and Audited Financial Statements of the Company and of the Group for the financial year ended 31 March 2023 together with the Independent Auditor's Report thereon; to approve Directors' fees amounting to SGD 247,500 for the financial year ending 31 March 2024, to be paid quarterly in arrears; to approve re-election of directors; to approve re-appointment of Messrs CLA Global TS Public Accounting Corporation as the Independent Auditor and to authorise the Directors to fix their remuneration; to approve authority to allot and issue new shares; to approve authority to allot and issue shares under the mm2 Performance Share Plan; and to approve proposed Renewal of Share Buyback Mandate. Reported Earnings • Jun 01
Full year 2023 earnings released: S$0.008 loss per share (vs S$0.013 loss in FY 2022) Full year 2023 results: S$0.008 loss per share (improved from S$0.013 loss in FY 2022). Revenue: S$134.3m (up 19% from FY 2022). Net loss: S$21.4m (loss narrowed 39% from FY 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 15
Third quarter 2023 earnings released: S$0.001 loss per share (vs S$0 in 3Q 2022) Third quarter 2023 results: S$0.001 loss per share (further deteriorated from S$0 in 3Q 2022). Revenue: S$62.3m (up 83% from 3Q 2022). Net loss: S$3.47m (loss widened S$3.11m from 3Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 18
First half 2023 earnings released: S$0.002 loss per share (vs S$0.005 loss in 1H 2022) First half 2023 results: S$0.002 loss per share (improved from S$0.005 loss in 1H 2022). Revenue: S$79.0m (up 71% from 1H 2022). Net loss: S$5.40m (loss narrowed 53% from 1H 2022). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Non-Executive Director Dennis Chia was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Oct 14
Price target decreased to S$0.079 Down from S$0.087, the current price target is an average from 2 analysts. New target price is 84% above last closing price of S$0.043. Stock is down 23% over the past year. The company is forecast to post a net loss per share of S$0.001 next year compared to a net loss per share of S$0.013 last year. Reported Earnings • Jul 15
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: S$0.013 loss per share (up from S$0.078 loss in FY 2021). Revenue: S$113.0m (up 50% from FY 2021). Net loss: S$35.0m (loss narrowed 62% from FY 2021). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 420%. Over the next year, revenue is forecast to grow 72%, compared to a 20% growth forecast for the industry in Singapore. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jun 14
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 losses forecast to reduce from S$0 to S$0 per share. Revenue forecast unchanged from S$194.5m at last update. Entertainment industry in Singapore expected to see average net income growth of 23% next year. Consensus price target of S$0.087 unchanged from last update. Share price rose 5.5% to S$0.058 over the past week. Major Estimate Revision • Jun 11
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 losses forecast to reduce from S$0 to S$0 per share. Revenue forecast unchanged from S$194.5m at last update. Entertainment industry in Singapore expected to see average net income growth of 22% next year. Consensus price target of S$0.087 unchanged from last update. Share price rose 7.3% to S$0.059 over the past week. Reported Earnings • Jun 01
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: S$0.016 loss per share (up from S$0.078 loss in FY 2021). Revenue: S$113.0m (up 50% from FY 2021). Net loss: S$35.8m (loss narrowed 61% from FY 2021). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 420%. Over the next year, revenue is forecast to grow 73%, compared to a 22% growth forecast for the industry in Singapore. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 27
Price target increased to S$0.12 Up from S$0.083, the current price target is provided by 1 analyst. New target price is 72% above last closing price of S$0.067. Stock is down 4.3% over the past year. The company is forecast to post a net loss per share of S$0.003 next year compared to a net loss per share of S$0.078 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Non-Executive Director Dennis Chia was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Dec 29
Price target increased to S$0.095 Up from S$0.083, the current price target is provided by 1 analyst. New target price is 86% above last closing price of S$0.051. Stock is down 66% over the past year. The company is forecast to post a net loss per share of S$0.001 next year compared to a net loss per share of S$0.078 last year. Reported Earnings • Nov 16
First half 2022 earnings released: S$0.005 loss per share (vs S$0.019 loss in 1H 2021) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2022 results: Revenue: S$46.3m (up 133% from 1H 2021). Net loss: S$11.4m (loss narrowed 49% from 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 16
Full year 2021 earnings released: S$0.078 loss per share (vs S$0.003 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: S$75.2m (down 68% from FY 2020). Net loss: S$90.8m (down S$94.1m from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jun 12
Founder & Executive Chairman recently sold S$10m worth of stock On the 11th of June, Wee Chye Ang sold around 145m shares on-market at roughly S$0.069 per share. This was the largest sale by an insider in the last 3 months. This was Wee Chye's only on-market trade for the last 12 months. Reported Earnings • Jun 03
Full year 2021 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: S$75.2m (down 68% from FY 2020). Net loss: S$92.7m (down S$96.0m from profit in FY 2020). Recent Insider Transactions • Apr 17
Founder & Executive Chairman recently bought S$15m worth of stock On the 14th of April, Wee Chye Ang bought around 317m shares on-market at roughly S$0.047 per share. This was the largest purchase by an insider in the last 3 months. This was Wee Chye's only on-market trade for the last 12 months. Aankondiging • Feb 09
mm2 Asia Says Investor Flags Interest in Taking Minority Stake in A Core Business A Singapore private equity investor is interested in investing in one of mm2 Asia Ltd. (SGX:1B0)'s core businesses, the mainboard-listed entertainment group said in a Singapore Exchange filing on February 7, 2021, without specifying the business area. mm2 Asia said it has received a non-binding term sheet, expressing interest in a potential acquisition involving taking a minority stake in one of the group's core businesses. "The terms of this term sheet are being deliberated by the board, and the term sheet has not been entered into as at the date of this announcement," it said, adding that the board may also appoint an independent financial adviser if deemed necessary. The company said that confidentiality undertakings prevent it from disclosing the investor's identity or other proposed terms at this stage. mm2 Asia's core business is in content production and distribution, including film, television and online releases. Apart from its core business, other business segments include cinemas, concerts and events, and post and digital content production. "It should be noted that these discussions are at a very preliminary stage, and this announcement is being made by the board in the interest of keeping shareholders updated," it added. For the transaction to proceed, the term sheet's terms would need to be finalised, approved by the board, and entered into by all parties. Any potential transaction would also require the binding investment agreements to be negotiated and finalised, with further conditions to follow, including shareholder approval. There is no certainty that the investment transaction would proceed, nor whether the discussions will result in binding agreements, said mm2 Asia, adding that it is making the announcement "to keep its shareholders and stakeholders informed on the developments in its business and on possible corporate actions, particularly in light of the company's proposed renounceable underwritten rights issue". Price Target Changed • Nov 19
Price target lowered to S$0.13 Down from S$0.14, the current price target is provided by 1 analyst. The new target price is 18% below the current share price of S$0.15. As of last close, the stock is down 44% over the past year. Reported Earnings • Nov 18
First half 2021 earnings released: S$0.019 loss per share The company reported a poor first half result with weaker earnings, revenues and control over expenses. First half 2021 results: Revenue: S$19.9m (down 83% from 1H 2020). Net loss: S$22.4m (down 344% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. 
