Patrick Frater Asia Bureau ChiefThe independent auditor of MM2 Asia, a Singapore-based mini conglomerate with entertainment interests across East Asia, has raised doubts about the group’s ability to continue as a going concern.Reporting on mm2 Asia’s annual report for the year to March 2021, Nexia TS Public Accounting Corporation noted a “material uncertainty” regarding the group’s ability to continue as a going concern.The auditor’s doubts flowed from mm2’s net loss in the 2020-21 financial year and from liabilities exceeding assets, according to a statement to the Singapore stock exchange filed by mm2.In May, mm2 revealed losses of S$99.5 million ($73.4 million), compared with a profit of $$6.29 million ($4.64 million) in 2019-20.
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