Former mm2 Asia subsidiary Vividthree dives 17% on news of payment demand from UOB

Former mm2 Asia subsidiary Vividthree on Wednesday (Jan 7) announced that it received a letter of demand from UOB for nearly S$1.2 million.

Minutes into the opening bell, the stock fell over 17 per cent to S$0.014, leading losses on the Singapore bourse.

In 2020, the group obtained a S$5 million temporary bridging loan under a scheme supported by Enterprise Singapore during Covid-19. An outstanding sum of around S$167,300, including interest, remains.

According to the Wednesday bourse filing, the company originally obtained a money market line with a total limit of S$1 million in October 2019. An outstanding sum of around S$1 million, including interest, remains.

The payment of S$1.2 million is due and payable to UOB within seven days.

The statement indicated that the board of the company is of the view that whether Vividthree is able to continue as a going concern will depend on the successful outcomes of these initiatives.

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The digital content company on Wednesday evening requested to lift its trading halt. Its shares last closed flat at S$0.02 on Sep 8, 2025, before the trading halt was put in place.

On Sep 10, The Business Times reported that Vividthree will see private equity fund Hildrics Asia Growth Fund VCC take a 29 per cent stake via a S$2.2 million subscription of new shares.

The move replaced a scrapped deal for the fund to buy equity from controlling shareholder mm2 Asia.

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With the new placement, Vividthree would issue 137.4 million new shares to Hildrics at an issue price of S$0.01615 per share, raising the fund’s stake in the company from its current 7.98 per cent to 29 per cent of the enlarged share capital.

As for mm2 Asia, its stake was said to be reduced to 23 per cent from 29.9 per cent, following the proposed placement.

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