***********************************************
The Film Guarantee Fund (FGF) has approved its latest loan guarantee of $2.625 million to Mandarin Films Limited for its film project "Dragon Tiger Gate".
Citic Ka Wah Bank Limited agreed to provide a facility of $5.25 million to this film project, while the FGF will guarantee 50% of the loan. This is the ninth approval since the FGF was launched in April, 2003. At present, the total commitment of the Fund for film production projects has amounted to around $11.75 million.
The spokesman of the Film Services Office said the FGF provided loan guarantees to local lending institutions that offered loan facilities to film productions that had secured a film completion arrangement. The maximum loan guarantee for each film is 35% of the production budget or $2.625 million, whichever is less.
"All film production companies registered locally that have produced at least two films in the past 10 years for commercial release in Hong Kong before applying for guarantee under the scheme are eligible to apply for a guarantee," the spokesman said.
Application forms for the fund can be obtained from the Film Services Office, 40/F Revenue Tower, 5 Gloucester Road, Wan Chai, or downloaded from the following website: www.fso-tela.gov.hk. Enquiries can be made on 2594 5729/2594 5726 or via e-mail: info@fso-tela.gov.hk.
Ends/Tuesday, October 11, 2005
Issued at HKT 11:01
NNNN
