Mm2 Asia’s Melvin Ang will be stepping into his new role as the group’s executive chairman. He will remain as the CEO and executive director of Mm2 Asia.
As the executive chairman of the company, Ang would supervise the overall business operations and management of the group as well as business planning and provides executive leadership and supervision to the senior management team of the company and the Group.
Meanwhile, Tan Liang Pheng has relinquished his role as non-executive chairman of the company and has been appointed as the lead independent director of the company.
In his new role, Tan will co-ordinate and lead the independent directors to provide a non-executive and independent perspective and contribute to balance view points on the board. He is the main liaison on board issues, and in accordance with the Code of Corporate Governance 2012, will serve as an alternative channel to address shareholders’ concerns.
Recently, Mm2 Asia has acquired the cinema management and operations business of Lotus Fivestar Cinemas for 13 cinema locations. This was for a purchase consideration of RM118 million.