<div class=newsTextDataWrapInner><p>SINGAPORE (April 30): Movie producer mm2 Asia has offered to acquire two cinemas in Malaysia from Cathay Cineplexes in a deal worth RM40 million ($14.9 million), as it seeks to expand its presence in the film production value chain.</p></div>

<div class=newsTextDataWrapInner><p>The two outlets - Cathay Cineplex City Square in Johor and Cathay Cineplex Damansara in Petaling Jaya - have a total of 30 screens and a combined seating capacity of 5,298.</p></div>

<div class=newsTextDataWrapInner><p>The former is the biggest cinema outside the Klang Valley region while the latter is the largest in Petaling Jaya.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>mm2 will fund the acquisition, which is expected to be completed by July 24, using cash and shares.</p></div>

<div class=newsTextDataWrapInner><p>"The proposed acquisition is in line with the company’s intention to diversify and expand into business opportunities in the value chain of film production," mm2 said in a statement today.</p></div>

<div class=newsTextDataWrapInner><p>"The company believes this will complement its current and future businesses, strengthening its competitive advantage through the ownership of cinemas, as well as providing a source of recurring income to the group."</p></div>


SINGAPORE (April 30): Movie producer mm2 Asia has offered to acquire two cinemas in Malaysia from Cathay Cineplexes in a deal worth RM40 million ($14.9 million), as it seeks to expand its presence in the film production value chain.

The two outlets - Cathay Cineplex City Square in Johor...

mm2 Asia to buy two Malaysia cinemas in $14.9-million deal

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<p>U Mobile Sdn Bhd, which has been selected to implement the country’s second 5G network, will reduce its foreign majority shareholding to 20% to ensure greater Malaysian control and invite participation from local investors.</p>


<p>Intel will be replaced by Nvidia on the blue-chip Dow Jones Industrial Average index after a 25-year run, underscoring the shift in the chipmaking market and marking another setback for the struggling semiconductor firm.</p>


<p>The wife of Zhu Su, the co-founder of collapsed cryptocurrency hedge fund Three Arrows Capital, has managed to sell a mansion she owns in Singapore for S$51 million (US$38.5 million or RM168.45 million), despite a court-imposed freeze against some of the couple’s other assets.</p>


<p>China will extend visa-free entry to citizens from nine additional countries, including South Korea, Norway and Finland, the foreign ministry said on Friday.</p>


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<p>Chevron Corp indicated potential US job cuts as part of a new cost-cutting plan.</p>

<p>The US$3 billion (RM13.14 billion) in targeted “structural” cost savings will come from asset sales, the use of new technology and workflow changes, chief executive officer Mike Wirth said during an interview. Chevron recently opened up a US$1 billion innovation hub in Bengaluru, India, which is hiring workers for engineering and digital services.</p>


<p>Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has appointed Nazaiful Affendi Zainal Abidin as the chief strategy and services officer effective Nov 1, 2024.</p>


<p>Kamala Harris has made freedom a central theme of her campaign. Under the heading“Safeguard our fundamental freedoms,” her website explains that: “Vice President Harris’s fight for our future is also a fight for freedom. In this election, many fundamental freedoms are at stake: the freedom to mak...