mm2 Asia asked to repay $7.56m loan from Linkwasha

The company is given a three-week deadline to settle the said sum.

mm2 Asia Ltd., which owns and operates Cathay Cineplexes, said in a bourse filing that it has received a statutory demand from lawyers representing Linkwasha Holdings Pte. Ltd., seeking repayment of an outstanding $7.56m loan.

The debt stems from a $30m loan extended by Linkwasha in 2017 to help finance mm2’s $230m acquisition of the Cathay Cineplexes business from Cathay Organisation.

Mm2 has repaid most of the loan over the years; however, it now faces a three-week deadline to settle or secure the said sum to the “reasonable satisfaction.”