Sale of Cathay cinema business in Singapore falls through on Omicron concerns

03 Jan 2022

Singapore-listed mm2 Asia’s deal to sell its Cathay cinema business to local investment firm Kingsmead Properties has fallen through. The cinema industry, both local and global, have been hit hard by the Covid-19 pandemic over the last two years. SP School of Business senior lecturer Leung Sau Yee said that given the recent surge in cases around the world, consumers may be more cautious of going to the cinema because they will be within a confined space with many other people for a prolonged duration of time.