Terence Wong, CFA
CEO and Executive Director
Turning Around… Almost
Aug 23, 2023
Melvin Ang, chairman of entertainment company mm2 Asia, went through some really tough times.
Covid affected all of mm2’s business lines – film production, concert and cinema. It bled the most with cinema, having spent almost S$200m on Cathay in 2017, only to see the valuation slide more than half. It is in the midst of cutting unprofitable locations like The Cathay, Cineleisure and Parkway Parade (announced today).
Best known for producing local movie hits like ‘Ah Boys to Men’ and ‘I Not Stupid’, mm2’s concert arm UnUsual is making the strongest comeback among its businesses, with sold-out Jackie Cheung concerts in Singapore and Malaysia.