3 Nov – Following its successful acquisitions of a number of cinemas in Malaysia, mm2 Asia Ltd. is now set to acquire Cathay Organisation's entire Singapore cinema operations. The acquisition will include the entire issued and paid-up share capital of Cathay Cineplexes Pte Ltd and the "Cathay" brand. "Many Singaporeans grew up with the highlight of their weekend or school holiday being a visit to Cathay cinemas. The Cathay name is very much a part of Singapore's history, and mm2 is proud to be entrusted with the Cathay legacy," said Executive Chairman of the Group, Mr. Melvin Ang, in a statement. The proposed acquisition amounting to SGD230 million is expected to be completed on 24 November 2017. Cathay Organisation, founded in 1935 by Mrs Loke Yew and her son Dato Loke Wan Tho, currently has 8 Cathay Cineplexes locations with a total of 64 screens or 11,569 seats in operation in Singapore.