MM2 Asia 1B0

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Financials

mm2 Asia Ltd. Annual Report 2024

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Consolidated Statement of Comprehensive Income — Group

31 metrics

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Consolidated Statement of Comprehensive Income — Group from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group; $’000; year ended 31 March 2024	2023Group; $’000; year ended 31 March 2023; restated	Source
Continuing operations
Revenue$’000	198,708	133,412	PDF p. 68
Cost of sales$’000	(145,772)	(105,189)	PDF p. 68
Gross profit$’000	52,936	28,223	PDF p. 68
Other income
- Interest income$’000	414	67	PDF p. 68
- Others$’000	855	666	PDF p. 68
Other (losses)/gains - net
- Expected credit loss on financial assets, net$’000	(5,847)	(564)	PDF p. 68
- Fair value changes in derivative financial instruments and borrowings, at fair value through profit or loss ("FVPL")$’000	4,945	(24,166)	PDF p. 68
- Others$’000	1,189	(1,787)	PDF p. 68
Expenses
- Administrative$’000	(21,865)	(15,215)	PDF p. 68
- Finance$’000	(18,786)	(8,780)	PDF p. 68
Continuing operations
Share of losses from associated companies$’000	(11,851)	(517)	PDF p. 68
Profits/(loss) before income tax$’000	1,990	(22,073)	PDF p. 68
Income tax expense$’000	(3,935)	(686)	PDF p. 68
Loss from continuing operations$’000	(1,945)	(22,759)	PDF p. 68
Discontinued operations
Loss from discontinued operations, net of tax$’000	-	(130,820)	PDF p. 68
Gain on deconsolidation of a subsidiary$’000	-	31,778	PDF p. 68
Loss from discontinued operations$’000	-	(99,042)	PDF p. 68
Continuing and discontinued operations
Net loss for the financial year$’000	(1,945)	(121,801)	PDF p. 68
Other comprehensive income: items that may be reclassified subsequently to profit or loss
Currency translation differences arising from consolidation - Gains$’000	128	2,103	PDF p. 68
Other comprehensive income: items that will not be reclassified subsequently to profit or loss
Currency translation differences arising from consolidation - Gains$’000	36	126	PDF p. 68
Other comprehensive income, net of tax
Other comprehensive income, net of tax$’000	164	2,229	PDF p. 68
Total comprehensive income
Total comprehensive loss for the financial year$’000	(1,781)	(119,572)	PDF p. 68
Net (loss)/earnings attributable to
Equity holders of the Company$’000	(5,650)	(119,720)	PDF p. 69
Non-controlling interests$’000	3,705	(2,081)	PDF p. 69
Subtotal$’000	(1,945)	(121,801)	PDF p. 69
Net loss attributable to equity holders of the Company relates to
Loss from continuing operations$’000	(5,650)	(20,678)	PDF p. 69
Loss from discontinued operations$’000	-	(99,042)	PDF p. 69
Subtotal$’000	(5,650)	(119,720)	PDF p. 69
Total comprehensive (loss)/earnings attributable to
Equity holders of the Company$’000	(5,522)	(117,617)	PDF p. 69
Non-controlling interests$’000	3,741	(1,955)	PDF p. 69
Subtotal$’000	(1,781)	(119,572)	PDF p. 69

Definitions & sources

Original report: PDF p. 68 ↗ PDF p. 69 ↗

Consolidated Statement of Financial Position — Group

47 metrics

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Consolidated Statement of Financial Position — Group from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group, 31 March	2023Group, 31 March; restated	2022Group, 1 April; restated	Source
Assets; Current assets
Cash and cash equivalents$’000	7,783	9,440	14,571	PDF p. 70
Trade and other receivables$’000	114,053	99,710	104,309	PDF p. 70
Inventories$’000	800	800	1,013	PDF p. 70
Investments in films and entertainment events, at FVPL$’000	5,842	4,504	4,555	PDF p. 70
Other current assets$’000	128,704	104,598	72,640	PDF p. 70
Film products and films under production$’000	3,288	3,290	6,004	PDF p. 70
Income tax receivables$’000	1,101	1,227	1,387	PDF p. 70
Assets; Current assets subtotal
Subtotal$’000	261,571	223,569	204,479	PDF p. 70
Assets
Non-current assets held for sale$’000	96	-	-	PDF p. 70
Assets subtotal
Subtotal$’000	261,667	223,569	204,479	PDF p. 70
Assets; Non-current assets
Trade and other receivables$’000	-	1,858	19,962	PDF p. 70
Financial assets, at FVPL$’000	1,546	1,649	1,701	PDF p. 70
Investments in associated companies$’000	82,404	92,608	3,196	PDF p. 70
Property, plant and equipment$’000	17,174	15,225	59,817	PDF p. 70
Intangible assets and goodwill$’000	41,939	44,330	235,017	PDF p. 70
Film rights$’000	20,599	23,599	28,708	PDF p. 70
Film intangibles$’000	775	1,014	1,110	PDF p. 70
Investments in films and entertainment events, at FVPL$’000	27,974	21,895	21,711	PDF p. 70
Deferred income tax assets$’000	-	-	23	PDF p. 70
Assets; Non-current assets subtotal
Subtotal$’000	192,411	202,178	371,245	PDF p. 70
Assets
Non-current assets held for sale$’000	-	96	-	PDF p. 70
Assets subtotal
Subtotal$’000	192,411	202,274	371,245	PDF p. 70
Assets
TOTAL ASSETS$’000	454,078	425,843	575,724	PDF p. 70
Liabilities; Current liabilities
Trade and other payables$’000	91,007	70,599	92,330	PDF p. 70
Financial liabilities, at FVPL$’000	653	-	-	PDF p. 70
Contract liabilities$’000	9,603	16,503	8,149	PDF p. 70
Borrowings$’000	121,811	117,635	154,394	PDF p. 70
Lease liabilities$’000	413	317	28,090	PDF p. 70
Derivative financial instruments$’000	-	-	6	PDF p. 70
Provisions$’000	21	-	-	PDF p. 70
Current income tax liabilities$’000	4,046	1,232	2,443	PDF p. 70
Liabilities; Current liabilities subtotal
Subtotal$’000	227,554	206,286	285,412	PDF p. 70
Liabilities; Non-current liabilities
Trade and other payables$’000	-	13,425	-	PDF p. 70
Borrowings$’000	107,234	113,529	55,366	PDF p. 70
Lease liabilities$’000	369	381	23,179	PDF p. 70
Derivative financial instruments$’000	569	-	-	PDF p. 70
Provisions$’000	144	140	5,886	PDF p. 70
Deferred income tax liabilities$’000	4,078	3,938	7,524	PDF p. 70
Liabilities; Non-current liabilities subtotal
Subtotal$’000	112,394	131,413	91,955	PDF p. 70
Liabilities
TOTAL LIABILITIES$’000	339,948	337,699	377,367	PDF p. 70
Equity
NET ASSETS$’000	114,130	88,144	198,357	PDF p. 70
Equity; Capital and reserves attributable to equity holders of the Company
Share capital$’000	258,014	230,602	211,102	PDF p. 71
Reserves$’000	(11,786)	(11,914)	(4,267)	PDF p. 71
Accumulated losses$’000	(173,671)	(168,021)	(48,301)	PDF p. 71
Equity; Capital and reserves attributable to equity holders of the Company subtotal
Subtotal$’000	72,557	50,667	158,534	PDF p. 71
Equity
Non-controlling interests$’000	41,573	37,477	39,823	PDF p. 71
TOTAL EQUITY$’000	114,130	88,144	198,357	PDF p. 71

Definitions & sources

Original report: PDF p. 70 ↗ PDF p. 71 ↗

Statement of Financial Position — Company

26 metrics

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Statement of Financial Position — Company from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Company, 31 March	2023Company, 31 March	2022Company, 1 April	Source
Assets; Current assets
Cash and cash equivalents$’000	44	415	9,796	PDF p. 72
Trade and other receivables$’000	107,197	89,886	262,572	PDF p. 72
Assets; Current assets subtotal
Subtotal$’000	107,241	90,301	272,368	PDF p. 72
Assets
Non-current assets held for sale$’000	96	-	-	PDF p. 72
Assets subtotal
Subtotal$’000	107,337	90,301	272,368	PDF p. 72
Assets; Non-current assets
Investments in subsidiaries$’000	68,951	68,951	70,226	PDF p. 72
Investments in associated companies$’000	81,509	91,754	2,045	PDF p. 72
Property, plant and equipment$’000	-	22	76	PDF p. 72
Assets; Non-current assets subtotal
Subtotal$’000	150,460	160,727	72,347	PDF p. 72
Assets
Non-current assets held for sale$’000	-	96	-	PDF p. 72
Assets subtotal
Subtotal$’000	150,460	160,823	72,347	PDF p. 72
Assets
TOTAL ASSETS$’000	257,797	251,124	344,715	PDF p. 72
Liabilities; Current liabilities
Trade and other payables$’000	59,289	35,803	58,562	PDF p. 72
Borrowings$’000	97,653	84,340	56,820	PDF p. 72
Lease liabilities$’000	-	23	58	PDF p. 72
Liabilities; Current liabilities subtotal
Subtotal$’000	156,942	120,166	115,440	PDF p. 72
Liabilities; Non-current liabilities
Trade and other payables$’000	-	13,425	-	PDF p. 72
Borrowings$’000	76,789	106,564	38,910	PDF p. 72
Lease liabilities$’000	-	-	19	PDF p. 72
Liabilities; Non-current liabilities subtotal
Subtotal$’000	76,789	119,989	38,929	PDF p. 72
Liabilities
TOTAL LIABILITIES$’000	233,731	240,155	154,369	PDF p. 72
Equity
NET ASSETS$’000	24,066	10,969	190,346	PDF p. 72
Equity; Capital and reserves attributable to equity holders of the Company
Share capital$’000	258,014	230,602	211,102	PDF p. 72
Reserves$’000	-	-	9,750	PDF p. 72
Accumulated losses$’000	(233,948)	(219,633)	(30,506)	PDF p. 72
Equity
TOTAL EQUITY$’000	24,066	10,969	190,346	PDF p. 72

Definitions & sources

Original report: PDF p. 72 ↗

Consolidated Statement of Changes in Equity — Group — FY2024

12 metrics

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Consolidated Statement of Changes in Equity — Group — FY2024 from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024GroupShare capital	2024GroupReserves	2024GroupAccumulated losses	2024GroupAttributable to equity holders of the Company — total	2024GroupNon-controlling interests	2024GroupTotal equity	Source
Equity movements FY2024 — Group
At the beginning of the financial year - As previously reported$’000	230,602	(11,935)	(167,131)	51,536	40,070	91,606	PDF p. 73
At the beginning of the financial year - Prior year adjustments (Note 44)$’000	-	21	(890)	(869)	(2,593)	(3,462)	PDF p. 73
At the beginning of the financial year (as restated)$’000	230,602	(11,914)	(168,021)	50,667	37,477	88,144	PDF p. 73
(Loss)/profits for the financial year$’000	-	-	(5,650)	(5,650)	3,705	(1,945)	PDF p. 73
Other comprehensive income for the financial year$’000	-	128	-	128	36	164	PDF p. 73
Total comprehensive income/(loss) for the financial year$’000	-	128	(5,650)	(5,522)	3,741	(1,781)	PDF p. 73
- Rights issue (Note 35(a))$’000	27,906	-	-	27,906	-	27,906	PDF p. 73
Less: capitalised expenses pertaining to issuance of rights issue (Note 35(a))$’000	(494)	-	-	(494)	-	(494)	PDF p. 73
Subtotal$’000	27,412	-	-	27,412	-	27,412	PDF p. 73
Non-controlling interest arising from incorporation of a subsidiary$’000	-	-	-	-	-	-	PDF p. 73
Non-controlling interest arising from acquisition of subsidiary$’000	-	-	-	-	355	355	PDF p. 73
End of financial year$’000	258,014	(11,786)	(173,671)	72,557	41,573	114,130	PDF p. 73

Definitions & sources

Original report: PDF p. 73 ↗

Consolidated Statement of Changes in Equity — Group — FY2023 comparative

9 metrics

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Consolidated Statement of Changes in Equity — Group — FY2023 comparative from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2023GroupShare capital	2023GroupReserves	2023GroupAccumulated losses	2023GroupAttributable to equity holders of the Company — total	2023GroupNon-controlling interests	2023GroupTotal equity	Source
Equity movements FY2023 (restated comparative) — Group
At the beginning of the financial year - As previously reported$’000	211,102	(4,270)	(46,677)	160,155	42,337	202,492	PDF p. 73
At the beginning of the financial year - Prior year adjustments (Note 44)$’000	-	3	(1,624)	(1,621)	(2,514)	(4,135)	PDF p. 73
At the beginning of the financial year (as restated)$’000	211,102	(4,267)	(48,301)	158,534	39,823	198,357	PDF p. 73
Loss for the financial year$’000	-	-	(119,720)	(119,720)	(2,081)	(121,801)	PDF p. 73
Other comprehensive income for the financial year$’000	-	2,103	-	2,103	126	2,229	PDF p. 73
Total comprehensive income/(loss) for the financial year$’000	-	2,103	(119,720)	(117,617)	(1,955)	(119,572)	PDF p. 73
- Private Placement (Notes 35(b) and 36(c))$’000	19,500	(9,750)	-	9,750	-	9,750	PDF p. 73
Disposal of a non-controlling interest in a subsidiary (Note 42(b))$’000	-	-	-	-	(391)	(391)	PDF p. 73
End of financial year (restated)$’000	230,602	(11,914)	(168,021)	50,667	37,477	88,144	PDF p. 73

Definitions & sources

Original report: PDF p. 73 ↗

Consolidated Statement of Cash Flows — Group

64 metrics

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Consolidated Statement of Cash Flows — Group from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group, $’000	2023Group, $’000 (Restated)	Source
Cash flows from operating activities
Net loss for the financial year$’000	(1,945)	(121,801)	PDF p. 74
Cash flows from operating activities; Adjustments for
- Income tax expense$’000	3,935	603	PDF p. 74
- Interest income$’000	(414)	(67)	PDF p. 74
- Finance expenses$’000	18,786	15,261	PDF p. 74
- Depreciation of property, plant and equipment$’000	2,907	22,539	PDF p. 74
- Amortisation of intangible assets$’000	2,635	1,633	PDF p. 74
- Amortisation of film rights$’000	3,012	7,779	PDF p. 74
- Amortisation of film intangibles$’000	1,052	549	PDF p. 74
- Impairment loss on intangible assets and goodwill$’000	405	117,677	PDF p. 74
- Share of losses from associated companies$’000	11,851	517	PDF p. 74
- Rental concession income$’000	-	(967)	PDF p. 74
- Intangible assets written off$’000	-	1	PDF p. 74
- Inventories written off$’000	-	2	PDF p. 74
- Property, plant and equipment written off$’000	31	95	PDF p. 74
- Expected credit loss on financial assets, net$’000	5,847	531	PDF p. 74
- Gain on deconsolidation of a subsidiary$’000	-	(31,778)	PDF p. 74
- Gain on disposal of a subsidiary$’000	-	(66)	PDF p. 74
- Gain on disposal of investments in films and entertainment events$’000	(2,282)	-	PDF p. 74
- Gain on disposal of property, plant and equipment$’000	(32)	(57)	PDF p. 74
- Gain arising from derecognition of leases$’000	-	(57)	PDF p. 74
- Gain on re-measurement of non-current assets held for sale upon disposal$’000	-	(17)	PDF p. 74
- Gain on re-measurement of borrowings$’000	(144)	-	PDF p. 74
- Gain on fair value changes for financial liabilities, at FVPL, net$’000	(461)	-	PDF p. 74
- Gain on fair value changes in derivative financial instruments, net$’000	(2,762)	(6)	PDF p. 74
- (Gain)/loss on fair value changes in borrowings, at FVPL, net$’000	(2,183)	21,618	PDF p. 74
- Loss on fair value changes in investment in films and entertainment event, at FVPL, net$’000	2,230	512	PDF p. 74
- Loss on fair value changes in financial assets, at FVPL, net$’000	62	-	PDF p. 74
- Loss on issuance of financial liabilities, at FVPL$’000	1,114	-	PDF p. 74
- Unrealised currency translation losses$’000	327	4,327	PDF p. 74
Cash flows from operating activities
Subtotal$’000	43,971	38,828	PDF p. 74
Cash flows from operating activities; Change in working capital, net of effects from deconsolidation and disposal of subsidiaries
- Trade and other receivables$’000	(18,289)	949	PDF p. 74
- Inventories$’000	-	(54)	PDF p. 74
- Other current assets$’000	(24,922)	(32,807)	PDF p. 74
- Film products and films under production$’000	(20)	-	PDF p. 74
- Film intangibles$’000	(818)	(169)	PDF p. 74
- Investments in films and entertainment events, at FVPL$’000	(7,461)	(1,063)	PDF p. 74
- Trade and other payables$’000	20,571	(5,407)	PDF p. 74
- Contract liabilities$’000	(7,274)	10,474	PDF p. 74
Cash flows from operating activities
Cash generated from operations$’000	5,758	10,751	PDF p. 74
Income tax paid$’000	(876)	(1,870)	PDF p. 74
Net cash provided by operating activities$’000	4,882	8,881	PDF p. 74
Cash flows from investing activities
Cash disposed from deconsolidation of subsidiary$’000	-	(751)	PDF p. 75
Proceeds from disposal of subsidiaries, net of cash disposed$’000	-	235	PDF p. 75
Proceeds from disposal of property, plant and equipment$’000	32	83	PDF p. 75
Interest received$’000	382	35	PDF p. 75
Acquisition of a subsidiary, net of cash acquired$’000	77	-	PDF p. 75
Additions to property, plant and equipment$’000	(4,359)	(984)	PDF p. 75
Additions to intangible assets$’000	(29)	(27)	PDF p. 75
Government grants received for development of software$’000	-	155	PDF p. 75
Net cash used in investing activities$’000	(3,897)	(1,254)	PDF p. 75
Cash flows from financing activities
Interest paid$’000	(9,368)	(12,669)	PDF p. 75
Proceeds from issuance of ordinary shares of the Company pursuant to private placement$’000	-	9,750	PDF p. 75
Proceeds from issuance of rights shares$’000	27,906	-	PDF p. 75
Expenses pertaining to issuance of rights shares$’000	(494)	-	PDF p. 75
Proceeds from issuance of convertible securities$’000	14,100	15,350	PDF p. 75
Proceeds from issuance of Exchangeable Bond$’000	-	54,000	PDF p. 75
Proceeds from borrowings$’000	37,748	30,702	PDF p. 75
Repayment of borrowings$’000	(71,503)	(85,845)	PDF p. 75
Repayment of lease liabilities$’000	(504)	(23,566)	PDF p. 75
Net cash used in financing activities$’000	(2,115)	(12,278)	PDF p. 75
Statement totals
Net changes in cash and cash equivalents$’000	(1,130)	(4,651)	PDF p. 75
Cash and cash equivalents
Beginning of financial year$’000	8,916	13,608	PDF p. 75
Effects of currency translation on cash and cash equivalents$’000	(73)	(41)	PDF p. 75
End of the financial year$’000	7,713	8,916	PDF p. 75

Definitions & sources

Original report: PDF p. 74 ↗ PDF p. 75 ↗

Financial highlights chart — continuing operations

3 metrics

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Financial highlights chart — continuing operations from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2022Group continuing operations; $ million; chart label	2023Group continuing operations; $ million; chart label	2024Group continuing operations; $ million; chart label	Source
Financial highlights chart, continuing operations
REVENUE$ million	76.6	133.4	198.7	PDF p. 4
GROSS PROFIT$ million	5.4	28.2	52.9	PDF p. 4
E B I T D A (2)$ million	12.6	24.5	40.2	PDF p. 4

Definitions & sources

Original report: PDF p. 4 ↗

Basic LPS — Group

2 metrics

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Basic LPS — Group from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group; basic LPS; cents per share	2023Group; basic LPS; cents per share; restated	Source
Basic LPS (cents)
From continuing operationscents per share	(0.19)	(0.74)	PDF p. 69
From discontinued operationscents per share	-	(3.55)	PDF p. 69

Definitions & sources

Original report: PDF p. 69 ↗

Diluted LPS — Group

2 metrics

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Diluted LPS — Group from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group; diluted LPS; cents per share	2023Group; diluted LPS; cents per share; restated	Source
Diluted LPS (cents)
From continuing operationscents per share	(0.05)	(0.56)	PDF p. 69
From discontinued operationscents per share	-	(3.41)	PDF p. 69

Definitions & sources

Original report: PDF p. 69 ↗

Basic loss per share — Note 12

3 metrics

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Basic loss per share — Note 12 from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group; Continuing operations	2023Group; Continuing operations; restated	2024Group; Discontinued operations	2023Group; Discontinued operations; restated	2024Group; Total	2023Group; Total; restated	Source
Basic loss per share — Note 12
Net loss attributable to equity holders of the Company$’000	(5,650)	(20,678)	-	(99,042)	(5,650)	(119,720)	PDF p. 105
Weighted average number of ordinary shares outstandingthousand shares	3,042,911	2,787,404	-	2,787,404	3,042,911	2,787,404	PDF p. 105
Basic loss per sharecents per share	(0.19)	(0.74)	-	(3.55)	(0.19)	(4.30)	PDF p. 105

Definitions & sources

Original report: PDF p. 105 ↗

Diluted loss per share — Note 12

8 metrics

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Diluted loss per share — Note 12 from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group; Continuing operations	2023Group; Continuing operations; restated	2024Group; Discontinued operations	2023Group; Discontinued operations; restated	2024Group; Total	2023Group; Total; restated	Source
Diluted loss per share — Note 12
Net loss attributable to equity holders of the Company$’000	(5,650)	(20,678)	-	(99,042)	(5,650)	(119,720)	PDF p. 106
Interest expense on convertible securities, net of tax$’000	3,537	460	-	-	3,537	460	PDF p. 106
Net loss used to determine diluted loss per share$’000	(2,113)	(20,218)	-	(99,042)	(2,113)	(119,260)	PDF p. 106
Weighted average number of ordinary shares outstanding (basic)thousand shares	3,042,911	2,787,404	-	2,787,404	3,042,911	2,787,404	PDF p. 106
Effect of conversion of convertible securitiesthousand shares	509,771	509,771	-	113,222	509,771	622,993	PDF p. 106
Effect of conversion of detachable warrantsthousand shares	296,875	296,875	-	-	296,875	296,875	PDF p. 106
Weighted average shares after potential conversions (unlabelled subtotal)thousand shares	3,849,557	3,594,050	-	2,900,626	3,849,557	3,707,272	PDF p. 106
Diluted loss per sharecents per share	(0.05)	(0.56)	-	(3.41)	(0.05)	(3.22)	PDF p. 106

Definitions & sources

Original report: PDF p. 106 ↗

Cash at banks and on hand — Note 13

1 metrics

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Cash at banks and on hand — Note 13 from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group	2023Group	2024Company	2023Company	Source
Cash at banks and on hand — Note 13
Cash at banks and on hand$’000	7,783	9,440	44	415	PDF p. 106

Definitions & sources

Original report: PDF p. 106 ↗

Cash flow cash reconciliation — Note 13

3 metrics

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Cash flow cash reconciliation — Note 13 from mm2 Asia Ltd. Annual Report 2024
Metric / unit	2024Group	2023Group	Source
Cash flow cash reconciliation — Note 13
Cash and bank balances$’000	7,783	9,440	PDF p. 107
Less: Bank overdraft$’000	(70)	(524)	PDF p. 107
Cash and cash equivalents for cash flows (unlabelled subtotal)$’000	7,713	8,916	PDF p. 107

Definitions & sources

Original report: PDF p. 107 ↗

Where the money comes from

Segment information

By business

Segmental information, continuing operations - FY2024 (Note 43) 11 lines

Segmental information, continuing operations - FY2024 (Note 43)
Item / unit	2024Content Business	2024Digital Entertainment Business	2024Concert and Event Business	2024Others	2024Cinema business	2024Segments elimination	2024Total	Source
Revenue
Total segment sales$'000	115,160	7,144	74,428	2,399	-	(423)	198,708	PDF p. 168
Inter-segment sales$'000	(17)	(190)	(96)	(120)	-	423	-	PDF p. 168
Sales to external parties$'000	115,143	6,954	74,332	2,279	-	-	198,708	PDF p. 168
Results
Share of losses of an associated company - Cinema business$'000	-	-	-	-	(11,720)	-	(11,720)	PDF p. 168
Impairment losses$'000	-	-	(405)	-	-	-	(405)	PDF p. 168
Amortisation$'000	(2,989)	(232)	(2,258)	(1,220)	-	-	(6,699)	PDF p. 168
Depreciation$'000	(415)	(243)	(2,213)	(36)	-	-	(2,907)	PDF p. 168
Finance expenses$'000	(16,633)	(171)	(3,405)	(5)	-	1,428	(18,786)	PDF p. 168
Profit/(loss) before income tax$'000	6,261	(1,569)	10,756	(1,738)	(11,720)	-	1,990	PDF p. 168
Income tax expenses$'000	(1,150)	(9)	(2,776)	-	-	-	(3,935)	PDF p. 168
Net profit/(loss)$'000	5,111	(1,578)	7,980	(1,738)	(11,720)	-	(1,945)	PDF p. 168

Notes

EBITDA/(LBITDA), gain/loss on fair value changes in financial assets/instruments/films and unrealised FX lines are also printed but omitted here because their wrapped multi-line labels could not be quoted as single rows.

Total assets and total liabilities for each reportable segments were not presented as the CODM is of the opinion that it is not meaningful and impracticable as they do not use them for operating decision-making on allocation of resources and performance assessment.

Sales between segments are carried out at agreed terms. The revenue from external parties reported to the CODM is measured in a manner consistent with that in the statement of comprehensive income.

Segmental information, continuing operations - FY2023 Restated (Note 43) 9 lines

Segmental information, continuing operations - FY2023 Restated (Note 43)
Item / unit	2023Content Business (Restated)	2023Digital Entertainment Business (Restated)	2023Concert and Event Business (Restated)	2023Others (Restated)	2023Segments elimination (Restated)	2023Total (Restated)	Source
Revenue
Total segment sales$'000	100,684	2,680	29,229	4,140	(3,321)	133,412	PDF p. 169
Inter-segment sales$'000	(2,664)	(390)	(239)	(28)	3,321	-	PDF p. 169
Sales to external parties$'000	98,020	2,290	28,990	4,112	-	133,412	PDF p. 169
Results
Amortisation$'000	(8,038)	(586)	(832)	(503)	-	(9,959)	PDF p. 169
Depreciation$'000	(464)	(310)	(1,256)	(92)	-	(2,122)	PDF p. 169
Finance expenses$'000	(7,507)	(172)	(1,099)	(4)	2	(8,780)	PDF p. 169
(Loss)/profit before income tax$'000	(16,705)	(3,537)	437	(2,286)	18	(22,073)	PDF p. 169
Income tax (expenses)/credit$'000	(968)	(4)	286	-	-	(686)	PDF p. 169
Net (loss)/profit$'000	(17,673)	(3,541)	723	(2,286)	18	(22,759)	PDF p. 169

Notes

2023 is marked (Restated). No Cinema business column is printed for 2023.

EBITDA/(LBITDA) and fair value / unrealised FX lines are printed but omitted due to wrapped multi-line labels.

By geography

Revenue by geographical regions based on location of customers (Note 5), Group, continuing operations 7 lines

Revenue by geographical regions based on location of customers (Note 5), Group, continuing operations — Group
Item / unit	2024continuing operations	2023continuing operations (Restated)	Source
Geographical regions based on location of customers
Singapore$'000	53,976	37,701	PDF p. 102
Malaysia$'000	29,664	8,604	PDF p. 102
People's Republic of China$'000	51,962	29,787	PDF p. 102
Taiwan$'000	28,264	41,363	PDF p. 102
Hong Kong$'000	23,573	14,229	PDF p. 102
Others$'000	11,269	1,728	PDF p. 102
Total revenue$'000	198,708	133,412	PDF p. 102

Notes

Note 43 states: Segmental revenue by geographical location of projects is disclosed in Note 5 to the financial statements.

The total row has no printed label; 'Total revenue' is a descriptor and its quote is the contiguous text from the Others row through the unlabelled total.

Debt

Borrowings

Borrowing notes 6 tables

Borrowings (current, non-current, total)

Borrowings (current, non-current, total)
Item / unit	2024Group	2023Group	2024Company	2023Company	Source
Current borrowings
Current - At amortised cost - Bank borrowings$’000	92,098	114,611	70,710	84,340	PDF p. 136
Current - Bank overdraft$’000	70	524	-	-	PDF p. 136
Current - Loan notes (Note 30(b))$’000	2,700	2,500	-	-	PDF p. 136
Current - Subtotal at amortised cost$’000	94,868	117,635	70,710	84,340	PDF p. 136
Current - At fair value - Convertible securities (Note 30(a))$’000	26,943	-	26,943	-	PDF p. 136
Current borrowings total$’000	121,811	117,635	97,653	84,340	PDF p. 136
Non-current borrowings
Non-current - At amortised cost - Bank borrowings$’000	1,442	6,965	-	-	PDF p. 136
Non-current - At amortised cost - Convertible securities (Note 30(a))$’000	29,003	-	-	-	PDF p. 136
Non-current - Subtotal at amortised cost$’000	30,445	6,965	-	-	PDF p. 136
Non-current - At fair value - Convertible securities (Note 30(a))$’000	76,789	106,564	76,789	106,564	PDF p. 136
Non-current borrowings total$’000	107,234	113,529	76,789	106,564	PDF p. 136
Total borrowings
Total borrowings - Bank borrowings$’000	93,540	121,576	70,710	84,340	PDF p. 136
Total borrowings - Bank overdraft$’000	70	524	-	-	PDF p. 136
Total borrowings - Convertible securities$’000	132,735	106,564	103,732	106,564	PDF p. 136
Total borrowings - Loan notes$’000	2,700	2,500	-	-	PDF p. 136
Total borrowings$’000	229,045	231,164	174,442	190,904	PDF p. 136

Notes

Amounts in $’000. Current 'At amortised cost' subtotal and 'At fair value' convertible securities shown separately; the unlabeled lines are subtotals/totals as printed.

Exposure of borrowings to interest rate changes and contractual repricing dates

Exposure of borrowings to interest rate changes and contractual repricing dates
Item / unit	2024Group	2023Group	2024Company	2023Company	Source
Repricing profile
12 months or less$’000	91,407	112,800	70,150	84,340	PDF p. 136
1 - 5 years$’000	1,193	69	-	121,576	PDF p. 136
Over 5 years$’000	228	270	-	-	PDF p. 136
Total (repricing profile)$’000	92,828	113,139	70,150	205,916	PDF p. 136

Notes

Amounts in $’000. Total row printed as 92,828 / 113,139 / 70,150 / 205,916 (Company 2023 as printed).

Discount rates for fair value of non-current fixed rate instruments

Discount rates for fair value of non-current fixed rate instruments
Item / unit	2024Group	2023Group	2024Company	2023Company	Source
Interest rates
Bank loans%	5.67	5.81	-	-	PDF p. 137
Convertible securities%	8.18	10.60	3.50	10.60	PDF p. 137

Notes

Percent. Market borrowing rates used to discount non-current fixed rate instruments (fair values $28,913,000 (2023: $3,959,000)). Secured by leasehold properties, corporate guarantees ($14,950,000 (2023: $17,622,000) from Company for subsidiaries; $178,893,000 (2023: $190,905,000) from subsidiaries for Company), equity interests of certain subsidiaries and an associated company, and assignment of a subsidiary's rights relating to a project. Loan notes secured by equity interest of a subsidiary at 10% (2023: 10%) per annum; mmLive convertible securities are unsecured, coupon 6% per annum.

Lease liabilities

Lease liabilities
Item / unit	2024Group	2023Group	2024Company	2023Company	Source
Undiscounted lease payments due
- 12 months or less$’000	444	345	-	23	PDF p. 143
- 1 - 5 years$’000	385	396	-	-	PDF p. 143
Less: Future interest costs$’000	(47)	(43)	-	-	PDF p. 143
Lease liabilities
Lease liabilities$’000	782	698	-	23	PDF p. 143
Represented by
- Current$’000	413	317	-	23	PDF p. 143
- Non-current$’000	369	381	-	-	PDF p. 143

Notes

Amounts in $’000.

Note 40(c) Liquidity risk - contractual undiscounted cash flows, Group

Note 40(c) Liquidity risk - contractual undiscounted cash flows, Group — Group
Item / unit	2024Less than 1 year	2024Between 1 and 2 years	2024Between 2 and 5 years	2024Over 5 years	2024Total	2023Less than 1 year	2023Between 1 and 2 years	2023Between 2 and 5 years	2023Over 5 years	2023Total	Source
Group
Borrowings$’000	121,811	77,950	154	288	200,203	117,635	61,233	53,131	344	232,343	PDF p. 158
Lease liabilities$’000	413	369	15	-	797	317	381	15	-	713	PDF p. 158

Notes

Amounts in $’000; contractual undiscounted cash flows. Balances due within 12 months equal carrying amounts.

Amounts in $’000.

Note 40(c) Liquidity risk - contractual undiscounted cash flows, Company

Note 40(c) Liquidity risk - contractual undiscounted cash flows, Company — Company
Item / unit	2024Less than 1 year	2024Between 1 and 2 years	2024Between 2 and 5 years	2024Over 5 years	2024Total	2023Less than 1 year	2023Between 1 and 2 years	2023Between 2 and 5 years	2023Over 5 years	2023Total	Source
Company
Borrowings$’000	97,653	76,789	-	-	174,442	84,340	55,164	51,400	-	190,904	PDF p. 158
Lease liabilities$’000						23	-	-	-	23	PDF p. 158

Notes

Amounts in $’000.

Payout

Dividends & distributions

Dividend policy

Item	Value	Period / scope	Source
Provision 11.6 – Dividend Policy	The Company does not have a formal dividend policy. The form, frequency and amount of any proposed dividends will take into consideration the Group’s profit growth, cash position, positive cash generated from operations, projected capital requirements for business growth and other factors as the Board may deem appropriate. The Company endeavours to pay dividends and where dividends are not paid, the Company will disclose its reason(s) accordingly.	Company/Group, FY2024	PDF p. 48

Dividends declared and proposed

Item	Value	Period / scope	Source
FY2024 dividends	The Company did not declare any dividends for FY2024 as the Group recorded a loss for the financial year.	FY2024	PDF p. 48

Extracted from mm2 Asia Ltd. Annual Report 2024 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

Item	Value	Period / scope	Source
Audit firm	CLA Global TS Public Accounting Corporation	Group	PDF p. 67
Engagement director	Loh Hui Nee	Group	PDF p. 67
Opinion	give a true and fair view of the consolidated financial position of the Group	Group and Company, FY ended 31 March 2024	PDF p. 57

Going concern

Item	Value	Period / scope	Source
4 Preparation of the Group's financial statements on going concern basis	The financial statements of the Group and the Company have been prepared on a going concern basis	Group and Company	PDF p. 100

Key audit matters

Item	Value	Period / scope	Source
Key audit matter 1	Going concern assumption	Group	PDF p. 58
Going concern assumption	We focused on this area because of the level of subjectivity associated with the assumptions used in the assessment of the going concern of the Group.	Group	PDF p. 58
Key audit matter 2	Revenue Recognition	Group	PDF p. 59
Revenue Recognition	We focused on revenue as a key audit matter due to a presumed fraud risk related to revenue recognition.	Group	PDF p. 59
Key audit matter 3	Valuation of non-financial assets	Group	PDF p. 60
Key audit matter 3a	Valuation of investment in associated company, mm Connect Pte. Ltd. and its subsidiaries (“mm Connect Group”)	Group	PDF p. 60
Valuation of investment in associated company, mm Connect Pte. Ltd. and its subsidiaries	We focused on this area as a key audit matter due to the significance of the investment in mm Connect Group in relation to the total assets of the Group and the inherent uncertainties involved in the estimates and judgements used in the preparation of the forecasts.	Group	PDF p. 60
Key audit matter 3b	Valuation of film rights	Group	PDF p. 61
Valuation of film rights	We focused on this area as a key audit matter as the valuation of film rights involved significant management’s judgements and estimates.	Group	PDF p. 61
Key audit matter 4	Valuation of financial assets	Group	PDF p. 62
Key audit matter 4a	Expected credit loss on trade and other receivables	Group	PDF p. 62
Expected credit loss on trade and other receivables	We focused the expected credit losses on trade and other receivables as a key audit matter as the carrying amount is significant to the Group and also considered the significant degree of management’s estimates and judgements involved in estimating the ECL.	Group	PDF p. 62
Key audit matter 4b	Fair valuation of investments in films and entertainment events, at fair value through profit or loss (“FVPL”)	Group	PDF p. 63
Fair valuation of investments in films and entertainment events, at FVPL	We focus on this area as the fair value measurement of investments in films and entertainment events, at FVPL involved high degree of uncertainties in the estimates and judgements used by the independent valuer and management during the preparation of the discounted cash flow.	Group	PDF p. 63
Key audit matter 5	Valuation of convertible securities	Group	PDF p. 64
Valuation of convertible securities	We focused on this area because the fair value measurements of the convertible securities issued by the Company and the derivative financial instruments issued by mmLive involved significant judgments and estimates by management, resulting in a high degree of subjectivity.	Group	PDF p. 64

Extracted from mm2 Asia Ltd. Annual Report 2024 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow mm2 Asia Ltd. Annual Report 2024, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Historical FY2024 annual report, announced 16 July 2024. Dollar amounts are in SGD thousands unless a row states otherwise.

Group comparisons at 31 March 2023 and 1 April 2022 are restated. The 2022 balance-sheet column is an opening position, not a year-end figure.

Financial highlights cover FY2022–FY2024 continuing operations. EBITDA excludes interest, tax, depreciation, amortisation, impairment, unrealised foreign exchange, fair-value changes and share of associated-company losses (PDF p. 4).

Cash flow cash excludes bank overdrafts (PDF p. 107). Basic and diluted loss per share use the separate numerators and share counts disclosed in Note 12 (PDF pp. 105–106).

Note 4 states operating cash inflow of S$4,902,000; the primary cash flow statement reports S$4,882,000. Both amounts are retained as printed (PDF pp. 100 and 74).

The company declared no dividend for FY2024 (PDF p. 48). Going concern is a key audit matter; Note 4 describes refinancing and funding assumptions (PDF pp. 58, 100–101).

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.