mm2 Asia
mm2 Asia is a leading producer of films and TV/online content in Asia. As a producer, mm2 provides services over the entire film-making process – from financing and production to marketing and distribution, and thus has diversified revenue streams. mm2 also owns entertainment company, UnUsUaL, and cinemas in Malaysia and Singapore.
3Q2020 Results Announcement
Est 7 Feb 2020
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14 Nov 19
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3 Sep 19
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14 Aug 19
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16 Jul 19
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30 May 19
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21 Mar 19
- Integrated Entertainment Content Giant
- Asia Content Powerhouse
- Re-Inventing The Cinema Business
- Proxy To Consumer Experiential Spending (via UnUsual Limited)
- Proxy To The Rising Penetration Of Virtual Reality (via VividThree)
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Consensus Rating3.67
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BUY:HOLD:SELL1:2:0
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Consensus TP0.27
| Brokerages | Report | Analysts | Recommendation | TP |
|---|---|---|---|---|
| CIMB | Download File | Ngoh Yi Sin | ADD | 0.320 |
| Maybank Kim Eng | Download File | Luis Hilado | HOLD | 0.200 |
| DBS | Download File | Ling Lee Keng | HOLD | 0.300 |
Archive
| Price | 0.275 |
|---|---|
| Market Cap (SGDm) | 320 |
| YE | 03/2020 |
| Earnings Release Date (Est) | 07/02/2020 |
| 52 wk high/low | 0.375/0.171 |
| YTD % change | -13% |
| Free Float % | 44% |
| Insiders Holding | 38% |
| Key Highlights | 2017 | 2018 | 2019 |
|---|---|---|---|
| Revenue (SGDm) | 96 | 192 | 266 |
| Net Profit (SGDm) | 18 | 22 | 19 |
| P/E | 18.2 | 14.3 | 16.7 |
| P/B | 3.4 | 1.8 | 1.5 |
| Return on Equity | 28.9% | 17.0% | 9.7% |
| Net D/E | -13.5% | 13.1% | 76.7% |
No long-term financing arrangements for productions. The commencement of each production is dependent on mm2’s ability to secure funding.
Unavailability of good scripts. Lack of good scripts for production may lead to less support from stakeholders.
Inability to predict the commercial success of movies produced. The commercial success of its productions is primarily determined by inherently unpredictable audience reactions.
High gearing