mm2 poised to dominate Singapore entertainment segment: UOB

Its acquisition of Unusual will be a massive boon.

mm2 is poised to become the biggest star of the Singapore entertainment sector thanks to its recent acquisition of Unusual (stylised as UnUsUal) group of companies according to a report by UOB Kay Hian.

Unusual’s status as a market leader branch out from its standard fare of rental and operations of sound, stage, lighting, and video equipment in Singapore. The report points out that Unusual is now trying its hand in concert promotion and production, as it has less reliance on third-parties and might even be more competitive in terms of pricing its services.

The report notes that from a strategic point of view, the acquisition of Unusual equips mm2 with synergistics business activities, a more diversified revenue stream, and stronger network in Hong Kong and Taiwan.

Further, SGX has approved the total placement of 6.35m shares to Hesheng Media, Apex Capital, and Maxi-Harvest Group for a total consideration of $5m. The report notes that the proceeds and a chunk of the existing cash balance will provide the necessary cash to fund the initial signing fee.