Monday, June 14, 2004

Hollywood of Asia

More industry news. Thailand's Board of Investment has endorsed giving tax breaks to the film industry with an eye toward making the Kingdom the ''Hollywood of Asia''.

The deal has already attracted the RGM Group from Australia, a film-financing company that includes Lord of the Rings producer Barrie Osborne as one of its executives.

RGM is investing in a new studio with Kantana Group, which the Bangkok Post cited as the leading film production company in Thailand,

The 343-acre "movie town" in suburban Bangkok will include outdoor sets, pre- and post-production facilities and a university offering courses in movie production and broadcasting.

Kantana is negotiating with several companies to raise funds to produce 22 movies at the new facility over the next seven years, mostly films aimed at the international market.

The RGM Group was also considering setting up a $20-million fun to help finance movie productions in Asia.

Kantana is a large production company. Among its holdings is Oriental Post Co., Southeast Asia's biggest post-production house.

With its low wages and location costs and access to production facilities and trained crews, Thailand is increasingly attractive as a location. Malaysian and Indian filmmakers have been using Thailand for post-production work. Current Hollywood films made in Thailand include Around the World in 80 Days and the upcoming Alexander.

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