MDA inks $64.3m film fund deal
The Media Development Authority of Singapore (MDA) has signed a Memorandum of Understanding with CJ Entertainment (CJE), Bang Singapore and Asia Media and Technology Capital.
This is to make way for a US$50 million ($64.3 million) slate of films to be produced out of Singapore over five years.
The films will be primarily sourced and produced by CJE and funded through a joint venture by all three firms.
In a joint statement, the three firms as well as the MDA said the move “is expected to generate significant activity for Singapore film companies and talents covering the complete value chain of developing, investing, producing and promoting successful films”.