mm2 Cathay Cineplex, a subsidiary of All-Asia Film and Television Entertainment (mm2 Asia), was recovered by the owners for rent arrears.

As of around 9:20 am on Wednesday, mm2 Asia's stock price was 0.8 minutes, with no ups and downs.

Cathay Cinema and the board of directors of mm2 Asia are seeking legal advice and will release news when more progress is made. At the same time, the company reserves all rights.

The owner, DBS Trustee, the trustee of Lendlease Global Commercial REIT, asked Cathay Pacific Cinema to pay the owed rent of RMB 3.446748.26 within three weeks from the date of delivery of the statutory debt collection letter, that is, before July 22. Otherwise, Cathay Cinema will be deemed unable to repay its debt.

In February this year, Cathay Pacific Cinema was also required to pay rent and attorney fees arrears at Tampines Century Plaza and Woodlands Changti Square, totaling nearly 2.7 million yuan.

mm2 All Asia Film and Television Entertainment disclosed before the opening of the market on Wednesday (July 2) that Cathay Cinema received a statutory debt collection letter (statutory  demand) sent by a lawyer representing the owner on Tuesday (1st).

The interest set by the contract between the two parties is 1% per month, calculated on a daily basis.