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Straits Times
16-07-2025
- Business
- Straits Times
Cathay Cineplexes gets fresh demands to pay up $3.3m debt for Century Square, Causeway Point outlets
Find out what's new on ST website and app. Cathay Cineplexes has three weeks to pay the full amount, or to secure or compound the above sums to the reasonable satisfaction of the landlord. SINGAPORE – Embattled cinema chain Cathay Cineplexes has received more repayment demands – this time, a sum exceeding $3.3 million in rental arrears and for other items, owed to the landlords of its outlets at Century Square and Causeway Point. These include two statutory demands received on July 15 for the payment of $86,142.31 and $643,064.36 owed for the lease of its Century Square outlet. A third statutory demand was received the same day for the sum of $2.6 million, owed for the lease of its Causeway Point outlet, said its parent company, mm2 Asia, in a bourse filing on July 16. Cathay Cineplexes has three weeks – by Aug 5 – to pay the full amount or to secure or compound the above sums to the reasonable satisfaction of the landlord, Frasers Centrepoint Trust. If the cinema chain fails to comply, it shall be deemed to be unable to pay its debts under the provisions of the Singapore Insolvency, Restructuring and Dissolution Act, the company said. mm2 and the Cathay Cineplexes board said they are seeking legal advice, and intend to engage with Frasers to explore all available options. This announcement comes shortly after the company received a statutory demand for $7.6 million from Linkwasha Holdings on July 9. The amount owed was related to a loan Linkwasha extended to mm2, for the media company to partially finance its acquisition of the cinema chain from Cathay Organisation. Top stories Swipe. Select. Stay informed. Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore 2 weeks' jail for man caught smuggling over 1,800 vapes and pods into Singapore Singapore Jail for man who fatally hit his daughter, 2, while driving van without licence Singapore Primary 1 registration: 38 primary schools to conduct ballot in Phase 2A Singapore ComfortDelGro to introduce new taxi cancellation, waiting fee policy Singapore Here comes the sun: Less rain, more warm days in second half of July Singapore Instead of overcomplicating COE system, Govt has ensured affordable transport for all: SM Lee to Jamus Lim Singapore Baby died after mum took abortion pills and gave birth in toilet; coroner records an open verdict Linkwasha, a related entity of Cathay Organisation, extended a loan of $30 million to mm2, for the acquisition worth $230 million. As at the date of the statutory demand, mm2 said it had repaid most of the loan, and that the outstanding amount, including interest, was $7.6 million. On July 2, the cinema chain received a statutory demand from the landlords of its shuttered outlet in Jem shopping mall, asking that it pay up arrears of around $3.4 million by the end of the month.
Business Times
16-07-2025
- Business
- Business Times
Cathay Cineplexes gets fresh demands to pay up S$3.3 million debt for Century Square, Causeway Point outlets
[SINGAPORE] Embattled cinema chain Cathay Cineplexes has received more repayment demands – this time, a sum exceeding S$3.3 million in rental arrears and for other items, owed to the landlords of its outlets at Century Square and Causeway Point. These include two statutory demands received on Tuesday (Jul 15), for the payment of S$86,142.31 and S$643,064.36 owed for the lease of its Century Square outlet. A third statutory demand was received the same day for the sum of S$2.6 million, owed for the lease of its Causeway Point outlet, said its parent company mm2 Asia in a bourse filing on Wednesday. Cathay Cineplexes has three weeks – by Aug 5 – to pay the full amount, or to secure or compound the above sums to the reasonable satisfaction of the landlord, Frasers Centrepoint Trust. If the cinema chain fails to comply, it shall be deemed to be unable to pay its debts under the provisions of the Singapore Insolvency, Restructuring and Dissolution Act, the company said. mm2 and the Cathay Cineplexes board said they are seeking legal advice, and intend to engage with Frasers to explore all available options. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up This announcement comes shortly after the company received a statutory demand for S$7.6 million from Linkwasha Holdings on Jul 9. The amount owed was related to a loan Linkwasha extended to mm2, for the media company to partially finance its acquisition of the cinema chain from Cathay Organisation. Linkwasha, a related entity of Cathay Organisation, extended a loan of S$30 million to mm2, for the acquisition worth S$230 million. As at the date of the statutory demand, mm2 said it had repaid most of the loan, and that the outstanding amount, including interest, was S$7.6 million. On Jul 2, the cinema chain received a statutory demand from the landlords of its shuttered outlet in Jem shopping mall, asking that it pay up arrears of around S$3.4 million by the end of the month.
Business Times
16-07-2025
- Business
- Business Times
Cathay Cineplexes gets fresh demands to pay up rent for Century Square, Causeway Point outlets
[SINGAPORE] Embattled cinema chain Cathay Cineplexes has received more repayment demands – this time, a sum exceeding S$3.3 million in rental arrears and for other items, owed to the landlords of its outlets at Century Square and Causeway Point. These include two statutory demands received on Tuesday (Jul 15), for the payment of S$86,142.31 and S$643,064.36 owed for the lease of its Century Square outlet. A third statutory demand was received the same day for the sum of S$2.6 million, owed for the lease of its Causeway Point outlet, said its parent company mm2 Asia in a bourse filing on Wednesday. Cathay Cineplexes has three weeks – by Aug 5 – to pay the full amount, or to secure or compound the above sums to the reasonable satisfaction of the landlord, Frasers Centrepoint Trust. If the cinema chain fails to comply, it shall be deemed to be unable to pay its debts under the provisions of the Singapore Insolvency, Restructuring and Dissolution Act, the company said. mm2 and the Cathay Cineplexes board said they are seeking legal advice, and intend to engage with Frasers to explore all available options. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up This announcement comes shortly after the company received a statutory demand for S$7.6 million from Linkwasha Holdings on Jul 9. The amount owed was related to a loan Linkwasha extended to mm2, for the media company to partially finance its acquisition of the cinema chain from Cathay Organisation. Linkwasha, a related entity of Cathay Organisation, extended a loan of S$30 million to mm2, for the acquisition worth S$230 million. As at the date of the statutory demand, mm2 said it had repaid most of the loan, and that the outstanding amount, including interest, was S$7.6 million. On Jul 2, the cinema chain received a statutory demand from the landlords of its shuttered outlet in Jem shopping mall, asking that it pay up arrears of around S$3.4 million by the end of the month.
Business Times
16-07-2025
- Business
- Business Times
Cathay Cineplexes gets fresh payment demands of over S$3.3 million for Century Square, Causeway Point outlets
[SINGAPORE] Embattled cinema chain Cathay Cineplexes has received more repayment demands of over S$3.3 million in rent arrears and other amounts, owed to the landlords of its outlets at Century Square and Causeway Point. This includes two statutory demands received on Tuesday (Jul 15), for the payment of S$86,142.31 and S$643,064.36, respectively, owed for the lease of its Century Square outlet. It also received a statutory demand on the same day, for the sum of S$2.6 million, owed for the lease of its Causeway Point outlet, said its parent company mm2 Asia in a bourse filing on Wednesday. Cathay Cineplexes has three weeks – by Aug 5 – to pay the full amount, or secure or compound the above sums to the reasonable satisfaction of the landlord, Frasers Centrepoint Trust. If the cinema chain fails to comply, it shall be deemed to be unable to pay its debts under the provisions of the Singapore Insolvency, Restructuring and Dissolution Act, the company said. Media company mm2 and the Cathay Cineplexes board said they are seeking legal advice regarding the abovementioned matters, and intend to engage with Frasers to explore all available options. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up This announcement comes shortly after the company received a statutory demand of S$7.6 million from Linkwasha Holdings on Jul 9. The amount owed was related to a loan that Linkwasha extended to mm2, to partially finance the latter's acquisition of the cinema chain from Cathay Organisation. Linkwasha, which was a related entity of Cathay Organisation, extended a loan of S$30 million to mm2, for the acquisition worth S$230 million. As at the date of the statutory demand, mm2 said it had repaid the majority of the loan, with a remaining outstanding amount of S$7.6 million including interests. On Jul 2, the cinema chain also received a statutory demand from the landlords of its shuttered outlet at Jem shopping mall, asking that it pay up arrears of around S$3.4 million before the end of the month.
