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ACTION Theatre was formed in 1987 from a group of National University of Singapore graduates who wanted to pursue theatre-making in their spare time. It registered as a society in 1988 and turned professional in the 1990s. For over a decade, Action Theatre at 42 Waterloo Street would be instrumental in developing local playwriting, primarily staging new plays from local playwrights.
ACTION Theatre moved out of 42 Waterloo Street in 2012 and soon after ceased operations.