By FARA AISYAH / Pic By TMR File
MNC Wireless Bhd is expanding into the film-making industry after signing a memorandum of understanding (MoU) with New Zealand-based Monfils Pictures Ltd to produce and market a movie on the biography of war photojournalist, Tim Page.
Both companies have agreed to form a joint-venture (JV) company, in which MNC Wireless holds a 51% stake while Monfils Pictures holds 49%.
MNC ED Christopher Tan (picture) said movies make money through domestic and foreign box-office revenues, coupled with product placements and content distributions.
“South-East Asia has been a region of focus and growing industry for the past couple of years which feed entertainment needs of more than 640 million people,” he said in a statement yesterday.
Tan said Asean has experienced remarkable growth with domestic box-office records being set across South-East Asia, while streaming giants such as Netflix Inc and iflix are having their headquarters in the region and increa- singly looking east for subscribers and localised content to diversify their swelling content libraries.
“We at MNC want to participate in this growth in the region and internationally…I am confident that this (JV) will contribute positively to MNC’s bottom line following the collaboration with award-winning Monfils Pictures,” he added.
Tan said the JV between the companies is a testament to their belief in the region’s backdrop, people and world-class facilities in Malaysia.
Besides, Tan said the film-making landscape in Malaysia is also positive as the government has funds for international co-productions which facilitate international collaborations such as the MNC and Monfils Pictures JV.
Meanwhile, Monfils Pictures founder, director and producer Harold Monfils said the film will take the audience on a journey through the eyes of infamous war photographer, Tim Page, in reliving his crazy adventures and accidental yet enduring friendships.
“The movie will not just feature rare photographs and the stories behind them, taken from Tim’s vast photo archive, intercut with both rare and new interview footage…It will also present detailed recreations of pivotal moments Tim share with each of the film’s colourful and illustrious cast of character,” he added.
The signing ceremony was witnessed by Robbie Krishnan, who has been appointed as a director of MNC effective Sept 21.
Robbie, who is also the nephew of Malaysian business tycoon Tan Sri T Ananda Krishnan, has over 15 years of international experience in the film industry and managing multimillion-dollar productions.
Currently, Robbie is serving as Astro Measat Broadcast Network System Sdn Bhd executive producer.
MNC’s share price jumped 175% to close at 11 sen yesterday since the news on Robbie’s appointment was announced on Aug 5.