mm2 Asia and subsidiaries face $74.6m debt repayment demands

UOB demands immediate payment from the companies within seven days.

mm2 Asia and its subsidiaries have received letters of demand from UOB amounting to $74.6m in relation to debts owed to the latter, it said in a bourse filing.

The subsidiaries include UnUsUaL Management, mm2 Connect and mm Plus.

UOB demands immediate payment from the companies within seven days of the Letters of Demand, or it will promptly commence legal proceedings without further notice.

Mm2 Asia said it is seeking legal advice and will continue to monitor the situation.

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