March 04, 2008
Floating Film Funds Splash
Charter Pacific Corporation (ASX code: CHF), Cinevistaas, and a group of Bollywood financiers, are continuing to float film funds to finance productions or buy film rights, to capitalise on the boom in Indian film-making. Charter Pacific Corporation, is expected to form a fund to make Indian movies. CPC is expected to float next month with a fund worth AUD$ 20 million to release 5-8 films a year. The films could be in Hindi, English or any regional language. With the producer off-set now in place, at least 40 per cent of the film will have to be made in Australia in order for investors to receive the tax benefit. Films could either be shot in India or make use of post-production facilities in Australia. More..