$50 Million Singaporean Film Fund Unveiled

SANTA MONICA: The Media Development Authority of Singapore (MDA) is partnering with two local outfits—Bang Singapore and Asia Media & Technology Capital (AMTC)—as well as Korea’s CJ Entertainment on a $50 million fund to produce a series of films out of Singapore over the next five years.

The films will be primarily sourced and produced by CJE and funded through a joint venture between CJE, AMTC and Bang. Aubeck Kam, the new CEO of the MDA, said the partnership "bridges an established Singapore production company with a private Singapore media fund and a blue-chip Korean film company to build a pipeline of commercial film projects. It represents the sector’s growing maturity, combining resources from players across the value chain to anchor a global pipeline and allowing Singapore media companies to take on high-value work such as executive production.”

Katharine Kim, the CEO of CJE, added, “We believe this strategic Asian partnership will encourage a stronger integration amongst various talented Asian filmmakers as well as companies and expand the appeal of Asian films to the global market.”

Peter Tan, the CEO of AMTC, commented, "We believe that this slate fund, synergistic with our mission of making superior investments in media and technology, will continue to promote the growth of the Asian media industry.”

Keiko Bang, the president of Bang Singapore, added, “Bang is proud to have brought together the MDA, CJ Entertainment and AMTC in the creation of a pioneering fund which we believe will invigorate and nurture the extraordinary talent we have in Singapore and across Asia. We see this as another milestone in our transition from a production house into a boutique executive production media company which will rely on our strengths and track record in concept development, fund raising and distribution."