Former Cathay cinema operator mm2 Asia, subsidiary still owe over $219k in CPF arrears
Its wholly owned subsidiary mm2 Entertainment had an outstanding amount of $210,843.50.
Former Cathay Cineplexes operator mm2 Asia and its subsidiary mm2 Entertainment owe more than $219,000 in Central Provident Fund (CPF) contributions, as reported by Singapore's State Courts on October 14. The companies' founder, Melvin Ang, informed the court that repaying the outstanding amounts would be challenging during a restructuring process.
While mm2 Asia could settle its arrears in full by November 11, the subsidiary is aiming to clear its contributions by December 31. Ang acknowledged the substantial amount still outstanding and expressed uncertainty about making payments within four weeks. The court mandated mm2 Entertainment to pay at least $80,000 before its subsequent hearing on November 11.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
