Arclight Films has slotted financing into place on its upcoming shark-attack film Bait 3D, in the first official Australia-Singapore project since the countries signed a co-production treaty in 2007.

Bait 3D is funded by Singapore’s Media Development Authority (MDA) through its International Film Fund, alongside Screen Australia and Screen Queensland.

Shooting is set to begin in May in Queensland, and Arclight has pre-sold to more than 24 territories. President of sales and acquisitions Mark Lindsay will be in Berlin talking to buyers from the UK, France and Scandinavia, among other available territories.

Russell Mulcahy (Resident Evil: Extinction) will direct the story of shoppers trapped in a supermarket with a pack of hungry tiger sharks following a freak tsunami.

Arclight managing director Gary Hamilton is producing with Todd Fellman from Story Bridge Films and Ian Maycock from Blackmagic Design. Chris Brown from Pictures In Paradise and Arclight’s Mike Gabrawy are executive producing.