SINGAPORE, Nov 10 — Singapore-based entertainment company mm2 Asia, the former operator of Cathay Cineplexes, said United Overseas Bank (UOB) has demanded repayment of S$74.6 million (RM238.7 million) from the firm and several of its subsidiaries.

According to a filing cited by Singapore-based media organisation CNA, the letters of demand were sent on Friday to mm2 Asia and its units — mm2 Entertainment, UnUsUaL Management, mm Plus and mm Connect. 

The company said UOB warned that if repayment was not made within seven days, it could initiate legal proceedings “without further reference”.

The demands come amid mounting financial pressures on mm2 Asia, which has already faced multimillion-dollar claims from landlords following the collapse of its Cathay Cineplexes cinema chain. 

The operator announced in September that it would enter creditors’ voluntary liquidation after years of losses.

Last month, Standard Chartered Bank issued a repayment demand for S$905,000, while Frasers Centrepoint Trust filed a S$2.6 million claim over the lease of the group’s Causeway Point outlet, CNA reported.

In its most recent financial results, mm2 Asia posted a group net loss of S$122.4 million for the 2025 financial year — a tenfold increase compared to the previous year’s second-half losses of S$118.4 million.

CNA reported that UOB’s letters also reserved the bank’s right to sell the group’s shares in subsidiaries mm2 Entertainment and mm Connect, as well as to exercise its “power of sale” over a mortgaged property linked to mm2 Entertainment. 

Another notice to UnUsUaL Management said UOB could sell more than 623 million shares in the company.

In response, mm2 Asia said it was seeking legal advice over the bank’s demands and would “continue to monitor the situation closely.”