mm2 Asia Ltd. Seeks Court‑Imposed Moratorium Amid Debt Demands

Application for Moratorium

On 10 November 2025, mm2 Asia Ltd., a Singapore‑listed entertainment holding company, filed with the Singapore Exchange a notice of a voluntary suspension of trading and an application for a moratorium under Section 64 of the Insolvency, Restructuring and Dissolution Act (IRDA). The application seeks a four‑month period during which winding‑up resolutions cannot be passed while the company pursues a restructuring plan that includes a proposed scheme of arrangement with its creditors.

Debt Demand from UOB

A key driver of the moratorium request is the S$74.6 million payment demand issued by UOB.

  • The demand was disclosed in a bourse filing on 10 November and is approximately three times the company’s market capitalisation of S$26 million.
  • The demand follows similar demands from other lenders and landlords, including Standard Chartered (S$905,000) and Frasers Centrepoint Trust (S$2.6 million).

Impact on Operations

mm2 Asia, which operates film production, distribution, cinema exhibition, and event services across Singapore, Malaysia, Hong Kong, Taiwan, China, and internationally, has announced that it is unable to demonstrate its ability to continue as a going concern. The company’s board stated that the impending debt repayments and the broader financial pressure may force the company into liquidation if a restructuring is not achieved.

Market Reaction

The application and subsequent trading suspension were reported by several media outlets, including The Business Times and The Straits Times. The Singapore Exchange notified investors that trading in the company’s shares would be halted on 11 November pending the outcome of the moratorium application.

Current Status

As of the latest filing, mm2 Asia is in the process of negotiating with creditors and exploring a restructuring plan. The court‑ordered moratorium, if granted, will provide a window for these negotiations and for the company to prepare a formal scheme of arrangement that could preserve the business and protect creditor interests.