As part of an attempt to drive growth in the Singaporean film industry, the country's Media Development Authority (MDA) is planning to invest an estimated US$5.7m (S$10m) in a slate of 10 international features from local production house Raintree Pictures.
The government agency plans to co-invest in the slate with Raintree and other international partners over the next five years. The move is expected to create jobs as well as raise the profile of Singaporean film.
"Through such collaborations we hope to facilitate the internationalisation of Singapore media companies," said MDA CEO Lim Hock Chuan. "In the long run, such efforts will elevate the standards of the local film industry and talents."
The MDA is currently considering investing in two upcoming Raintree productions - Leap Of Love and Under Arrest. The two English-language films are being co-produced by Toronto-based Spaceworks Entertainment under the framework of the Singapore-Canada Audiovisual Co-production Agreement (ScreenDaily, July 4).
The MDA was formed at the beginning of this year through the merger of the Singapore Broadcasting Authority, the Film and Publications Department and the Singapore Film Commission with the aim of establishing Singapore as a global media hub.
Raintree, owned by the deep-pocketed Media Corporation of Singapore, is the territory's most active producer and recently teamed with Warner Bros and Hong Kong's Milkyway Image on Johnnie To's Turn Left, Turn Right and with Hong Kong-based Applause Pictures on the Pang Brothers' horror film The Eye.