Former Cathay cinema operator mm2 Asia, subsidiary owe $213,000 in CPF arrears
When pressed on the company’s ability to make payment, the representative said there was “no money”.
mm2 Asia and mm2 Entertainment, a wholly-owned subsidiary, owe the Central Provident Fund (CPF) Board approximately $213,000 in outstanding contributions, according to a hearing in the State Courts on September 16. The debt is split, with mm2 Asia owing about $15,000 and mm2 Entertainment responsible for around $198,000. The parent company, mm2 Asia, was the operator of the Cathay Cineplexes cinema chain before its operations ceased in September 2025 due to financial difficulties.
The group also engages in film and television production and distribution, as well as live entertainment. mm2 Asia's subsidiary, mm2 Entertainment, was established in Singapore in 2009. The company's representative requested additional time to repay the CPF arrears during the September 16 hearing, citing financial constraints and an ongoing scheme of arrangement.
The scheme of arrangement involves potential funding of $15 million by the end of the year. However, the prosecutor noted that the outstanding sum owed by mm2 Entertainment remains substantial at roughly $198,000, and suggested that payments should continue rather than wait until January 2027. mm2 Asia has already made a payment of $11,000 following a court directive, with the remaining $15,000 still outstanding.
The court expects $50,000 to be paid before the next hearing on October 14. Both companies face charges under the CPF Act for alleged offenses related to failed CPF contributions for their employees. mm2 Entertainment has eight charges involving four employees, while mm2 Asia has three charges involving an employee for the months of November and December 2025, and January 2026.
The proceedings, initially heard in March, have been ongoing and are scheduled to be heard in the High Court on September 18.
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