Former Cathay cinema operator mm2 Asia, subsidiary owe S$213,000 in CPF arrears
A representative says there is ‘no money’ when pressed on the firm’s ability to make further payments
Mainboard-listed entertainment company mm2 Asia and its wholly owned subsidiary mm2 Entertainment owe the Central Provident Fund (CPF) Board approximately S$213,000 in outstanding contributions, a State Courts hearing revealed on September 16. Of this amount, about S$15,000 is owed by mm2 Asia, while approximately S$198,000 is owed by mm2 Entertainment. mm2 Asia, which operated the Cathay Cineplexes cinema chain before its closure in September 2025, is the sole shareholder of mm2 Entertainment, holding all shares.
The group also operates in film and television production, distribution, and live entertainment. During the hearing, the company's representative requested additional time to repay the CPF arrears, citing its financial difficulties and an ongoing scheme of arrangement. The company proposed restarting payments from January 2027, but the prosecutor emphasized that the outstanding sum for mm2 Entertainment remains high at S$198,000, suggesting it should continue making payments instead of waiting until then. mm2 Asia has already made a payment of S$11,000 following a court direction, with the remaining S$15,000 outstanding.
The court expects S$50,000 to be paid before the next hearing on October 14. Both companies face multiple charges under the CPF Act for failing to pay contributions for their employees.
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