Executive Summary
mm2 Asia Ltd., an investment holding company, produces, distributes, and sponsors films, television (TV), and online content in Singapore, Malaysia, Hong Kong, Taiwan, China, and internationally.
Rewards
Risk Analysis
Snowflake Analysis
Moderate growth potential and overvalued.
Share Price & News
How has mm2 Asia's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 1B0 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.5%
1B0
4.2%
SG Entertainment
0.7%
SG Market
1 Year Return
-11.2%
1B0
39.6%
SG Entertainment
-19.1%
SG Market
Return vs Industry: 1B0 underperformed the SG Entertainment industry which returned 39.6% over the past year.
Return vs Market: 1B0 exceeded the SG Market which returned -19.1% over the past year.
Shareholder returns
| 1B0 | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.5% | 4.2% | 0.7% |
| 30 Day | -9.0% | 0.2% | -3.0% |
| 90 Day | 0% | 21.6% | 1.1% |
| 1 Year | -11.2%-11.2% | 41.2%39.6% | -15.0%-19.1% |
| 3 Year | -60.9%-60.9% | 8.3%5.0% | -15.3%-25.5% |
| 5 Year | 12.9%12.9% | 2.0%-1.9% | -2.6%-20.0% |
Price Volatility Vs. Market
How volatile is mm2 Asia's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
mm2 Asia (SGX:1B0) Use Of Debt Could Be Considered Risky1 month ago | Simply Wall St
Does mm2 Asia's (SGX:1B0) Statutory Profit Adequately Reflect Its Underlying Profit?1 month ago | Simply Wall St
Is Now An Opportune Moment To Examine mm2 Asia Ltd. (SGX:1B0)?Valuation
Is mm2 Asia undervalued compared to its fair value and its price relative to the market?
59.87x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: 1B0 (SGD0.18) is trading above our estimate of fair value (SGD0.15)
Significantly Below Fair Value: 1B0 is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: 1B0 is poor value based on its PE Ratio (59.9x) compared to the XA Entertainment industry average (24.8x).
PE vs Market: 1B0 is poor value based on its PE Ratio (59.9x) compared to the SG market (12.7x).
Price to Earnings Growth Ratio
PEG Ratio: 1B0 is poor value based on its PEG Ratio (1.2x)
Price to Book Ratio
PB vs Industry: 1B0 is good value based on its PB Ratio (1x) compared to the XA Entertainment industry average (2x).
Next Steps
Future Growth
How is mm2 Asia forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
49.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 1B0's forecast earnings growth (49.6% per year) is above the savings rate (2.2%).
Earnings vs Market: 1B0's earnings (49.6% per year) are forecast to grow faster than the SG market (16.3% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: 1B0's revenue (2.9% per year) is forecast to grow slower than the SG market (5.3% per year).
High Growth Revenue: 1B0's revenue (2.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 1B0's Return on Equity is forecast to be low in 3 years time (4.1%).
Next Steps
Past Performance
How has mm2 Asia performed over the past 5 years?
15.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 1B0 has a large one-off loss of SGD11.7M impacting its March 31 2020 financial results.
Growing Profit Margin: 1B0's current net profit margins (1.5%) are lower than last year (7.2%).
Past Earnings Growth Analysis
Earnings Trend: 1B0's earnings have grown by 15.5% per year over the past 5 years.
Accelerating Growth: 1B0's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: 1B0 had negative earnings growth (-81.5%) over the past year, making it difficult to compare to the Entertainment industry average (0.3%).
Return on Equity
High ROE: 1B0's Return on Equity (2.4%) is considered low.
Next Steps
Financial Health
How is mm2 Asia's financial position?
Financial Position Analysis
Short Term Liabilities: 1B0's short term assets (SGD258.1M) do not cover its short term liabilities (SGD259.7M).
Long Term Liabilities: 1B0's short term assets (SGD258.1M) exceed its long term liabilities (SGD203.9M).
Debt to Equity History and Analysis
Debt Level: 1B0's debt to equity ratio (94.1%) is considered high.
Reducing Debt: 1B0's debt to equity ratio has increased from 2% to 94.1% over the past 5 years.
Debt Coverage: 1B0's debt is not well covered by operating cash flow (13.4%).
Interest Coverage: 1B0's interest payments on its debt are not well covered by EBIT (1.7x coverage).
Balance Sheet
Next Steps
Dividend
What is mm2 Asia current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate 1B0's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate 1B0's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if 1B0's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if 1B0's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of 1B0's dividend in 3 years as they are not forecast to pay a notable one for the SG market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.0yrs
Average management tenure
CEO
Long Jong Chang (60 yo)
3.33yrs
Tenure
Mr. Long Jong Chang has been the Group Chief Executive Officer of mm2 Asia Ltd. since April 3, 2017. Mr. Chang has been an Non Executive Director of Vividthree Holdings Ltd. since August 23, 2018. He serve ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder & Executive Chairman | 3.58yrs | S$125.10k | 43.57% SGD 92.2m | |
| Group Chief Executive Officer | 3.33yrs | no data | no data | |
| Chief Financial Officer | 4.83yrs | no data | no data | |
| Chief Corporate Development Officer & CEO of Cinema Operation | 2.67yrs | no data | no data | |
| Chief Content Officer & MD of mm2 Singapore | no data | no data | no data | |
| Managing Director of Vividthree | no data | no data | no data | |
| Chief Technology Officer of Vividthree Productions | no data | no data | no data | |
| Chief Executive Officer of mm2 View | no data | no data | no data | |
| CEO & Executive Director of UnUsUaL | no data | no data | 0.51% SGD 1.1m | |
| Company Secretary | 2.75yrs | no data | no data | |
| Chief Executive Officer of Vividthree | no data | no data | no data | |
| Chief Executive Officer of AsiaOne | no data | no data | no data |
3.0yrs
Average Tenure
54.5yo
Average Age
Experienced Management: 1B0's management team is considered experienced (3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder & Executive Chairman | 3.58yrs | S$125.10k | 43.57% SGD 92.2m | |
| Independent Director | 5.75yrs | no data | 0.0074% SGD 15.6k | |
| Non-Executive Director | 3yrs | no data | no data | |
| Lead Independent Director | 3.58yrs | no data | 0.0074% SGD 15.6k | |
| Non-Executive Director | 5.75yrs | no data | 0.0074% SGD 15.6k | |
| Independent Director | 5.75yrs | no data | 0.042% SGD 88.4k |
4.7yrs
Average Tenure
59yo
Average Age
Experienced Board: 1B0's board of directors are considered experienced (4.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
mm2 Asia Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: mm2 Asia Ltd.
- Ticker: 1B0
- Exchange: SGX
- Founded: 2008
- Industry: Movies and Entertainment
- Sector: Media
- Market Cap: S$211.630m
- Shares outstanding: 1.16b
- Website: https://www.mm2asia.com
Number of Employees
Location
- mm2 Asia Ltd.
- No. 07-11 Redhill Industrial Estate
- 1002 Jalan Bukit Merah
- Singapore
- 159456
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 1B0 | SGX (Singapore Exchange) | Yes | New Ordinary Shares | SG | SGD | Dec 2014 |
Biography
mm2 Asia Ltd., an investment holding company, produces, distributes, and sponsors films, television (TV), and online content in Singapore, Malaysia, Hong Kong, Taiwan, China, and internationally. It operat ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/08/07 12:41 |
| End of Day Share Price | 2020/08/06 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2020/03/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.