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.
The last earnings update was 147 days ago.
Amount off the current price
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
mm2 Asia's share price is below the future cash flow value, but not at a moderate discount (< 20%).
mm2 Asia's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
is considered below, and whether this is a fair price.
Price based on past earnings
mm2 Asia's earnings available for a low price, and how does
this compare to other companies in the same industry?
mm2 Asia is good value based on earnings compared to the Asia Media industry average.
mm2 Asia is overvalued based on earnings compared to the SG market.
Price based on expected Growth
mm2 Asia's expected growth come at a high price?
mm2 Asia is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
mm2 Asia is overvalued based on assets compared to the Asia Media industry average.
Discounted cash flow (2 Stage Free Cash Flow to Equity)
The calculations below outline how an intrinsic value for
is arrived at by discounting future cash flows to their present value. We use
analyst's estimates of cash flows going forward 5 years.
The Levered Beta is the Unlevered Beta adjusted for financial leverage. It is
limited to 0.8 to 2.0 (practical range for a stable firm). Note the market value of equity is used not the book value (SGD563,960,235).
The risk free rate of
1.88% is from the 10 year government bond rate in
The bottom-up beta is estimated by analysing other companies in the same
The Equity Risk Premium is calculated by subtracting the risk free rate from
the market return premium (8.12%) (source: Buffet).
The dividend discount model is automatically used for companies in the
following industries: Banks, Insurance, Real Estate Investment Trusts (REITs),
Diversified Financial Services and Capital Markets.
The future performance of a company is measured in the same way as past
performance, by looking at estimated
and how much profit it is expected to make.
Future estimates come from
professional analysts. Just like forecasting the weather, they don’t always get
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
expected to grow at an
mm2 Asia's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
mm2 Asia's earnings growth is expected to exceed the SG market average.
mm2 Asia's revenue growth is expected to exceed the SG market average.
Annual Growth Rates Comparison
Analysts growth expectations
High Growth Checks
mm2 Asia's earnings are expected to grow significantly at over 20% yearly.
mm2 Asia's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
mm2 Asia is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
mm2 Asia's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
has a total score of
3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
TENURE AS CEO
Mr. Long Jong Chang has been the Group Chief Executive Officer of mm2 Asia Ltd. since April 3, 2017. Mr. Chang served as Deputy Chief Executive Officer and Chief Customer Officer at MediaCorp Pte Ltd. until April 2017 and served as its Deputy Chief Executive Officer for Television since May 2007. He had overseen all of Mediacorp's major media assets including TV, Radio, Newspaper, Magazines and Over-the-Top (OTT) service Toggle. He also led Mediacorp's events business, Vizpro and Mediacorp's media training business, Singapore Media Academy. He has served as Deputy Chief Executive Officer of MediaCorp's Productions and Studio business units. He joined MediaCorp in 1999. He served many distinguished posts heading MediaCorp's subsidiaries. He began his career in Media at the Television Corporation of Singapore in 1994 as an Assistant Vice President of Drama Operations and served as the Vice President of Chinese Drama. He has gathered experience in channel management, content development and production, content licensing and distribution, media business development and talent management since 1985, when he joined Singapore Broadcasting Corporation. He served as a Commissioner of PT Global Mediacom Tbk since April 27, 2011 until July 29, 2015. He served as Commissioner of PT. Media Nusantara Citra Tbk. He holds a Bachelor of Civil Engineering from NTU Singapore, where he graduated in 1985.
Insufficient data for Long Jong to compare compensation growth.
Insufficient data for Long Jong to establish whether their compensation is reasonable for a company of this size and profit level.
Management Team Tenure
Average tenure and age of the
management team in years:
The average tenure for the mm2 Asia management team is less than 2 years, this suggests a new team.
Long Jong Chang
Group Chief Executive Officer
How Kiat Chong
Chief Financial Officer
Chief Corporate Development Officer
Chief Content Officer & MD of mm2 Singapore
General Manager of mm2 Entertainment Pte. Ltd.
Chief Operating Officer of Vividthree Productions
Chief Technology Officer of Vividthree Productions
Chief Executive Officer of Vividthree Productions
Teck Hiong Chua
Chief Executive Officer of mm2 View
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The average tenure for the mm2 Asia board of directors is less than 3 years, this suggests a new board.
Should You Be Tempted To Sell mm2 Asia Ltd (SGX:1B0) At Its Current PE Ratio?
It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for 1B0 Price per share = SGD0.47 Earnings per share = SGD0.023 ∴ Price-Earnings Ratio = SGD0.47 ÷ SGD0.023 = 20.7x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … Ultimately, our goal is to compare the stock’s P/E ratio to the average of companies that have similar attributes to 1B0, such as company lifetime and products sold.
Is mm2 Asia Ltd (SGX:1B0) A Sell At Its Current PE Ratio?
Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for 1B0 Price per share = SGD0.55 Earnings per share = SGD0.021 ∴ Price-Earnings Ratio = SGD0.55 ÷ SGD0.021 = 25.7x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you are inadvertently comparing riskier firms with 1B0, then 1B0’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price. … In this case, 1B0’s P/E would be higher since investors would also reward 1B0’s higher growth with a higher price.
U77’s forecasted bottom line growth is an optimistic double-digit 39.27%, driven by the underlying double-digit sales growth of 18.70% over the next few years. … Profit growth, coupled with top-line expansion, is a positive indication. … Profit growth, coupled with top-line expansion, is a positive indication.
Where mm2 Asia Ltd (SGX:1B0) Stands In Terms Of Earnings Growth Against Its Industry
Check out our latest analysis for mm2 Asia Did 1B0's recent earnings growth beat the long-term trend and the industry? … This means on average, mm2 Asia has been able to steadily grow its net income over the past few years as well. … This means that, in the recent industry expansion, mm2 Asia is able to amplify this to its advantage.What does this mean?
How mm2 Asia Ltd (SGX:1B0) Delivered A Better ROE Than Its Industry
View our latest analysis for mm2ia Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) is a measure of mm2ia’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity SGX:1B0 Last Perf Dec 20th 17 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.
Is There Now An Opportunity In mm2 Asia Ltd (SGX:1B0)?
This is because 1B0’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … 1B0’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.
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 operates through Core Business, Post-Production, Cinema Operation, Event Production and Concert Promotion, and Others segments. The company provides a range of filmmaking process services, including financing, production, securing sponsorship, and the marketing and distribution of films, TV, and online content; and motion picture, video, and TV program post-production services. It also produces advertisements, corporate videos, and event videos; and distributes content produced by third parties across various platforms, such as cinemas, Pay TV, Free TV, online, DVD, airlines, and others. In addition, the company is involved in the film exhibition business through the operation of two cinemas, which include 43 screens under the name mmCineplexes in Johor Bahru, Kuala Lumpur, Bertam, Prai, and Langkawi in Malaysia; engages in café operation, as well as dramatic arts, music, and other arts production related activities; and provides 3D animation, VFX, and CGI services. Further, it produces and promotes events and concerts for artists, as well as offers creative and technical solutions for events and concerts; provides venue co-management services; leases stage equipment and premises; and develops software for interactive digital media. Additionally, the company engages in the rental of stage lighting, sound systems, audio equipment, and light system installation; and organizes and promotes shows, entertainment acts, and other related services. mm2 Asia Ltd. was founded in 2008 and is headquartered in Singapore.
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