Malaysia keen to be Asia's Hollywood

Malaysia keen to be Asia's Hollywood

KUALA LUMPUR (AFP):Malaysia's multi-million dollar answer to
Hollywood will be launched next month with the aim of making the
country an Asian movie-making hub, a local company announced
Thursday.

Three billion ringgit (US$789 million) will be spent over
seven years to develop Entertainment Village on a 485 hectare
(1,198 acre) site, it said.

"E-Village ... is designed to make Malaysia the hub of the
booming Asian film industry," Awang Had Salleh, chairman of
Entertainment Village (M) Sdn. Bhd., told a press conference.
Awang Had said his firm had formed an alliance with Steve Grace,
vice-president of British Aerospace.

He said the Malaysian side would have a 70 percent stake while
the balance would be held by Grace, apparently investing as an
individual and not on behalf of BAe. Initial paid-up capital is
one million ringgit.

"The developers acknowledge that there can be no substitute
for Hollywood. But there can be alternatives," said Ibrahim Abdul
Ghaffar, executive vice-chairman of the local company.

"E-Village will strive to position itself as the hub for the
Asian film industry," he added.

Ibrahim said E-Village was already negotiating with three to
four potential clients from Europe and Hong Kong.

"In terms of cost, we are about 40 percent lower than others,"
he said.

Awang Had said E-Village would be a high-tech world
entertainment center, with production studios for film and
television.

"E-Village will enhance the development of the MSC as it falls
under the creative multimedia and entertainment category. It also
marks Malaysia's entry into the film production industry," he
said.

E-Village will be located at Dengkil next to Cyberjaya, the
heart of the Multimedia Super Corridor.

Prime Minister Mahathir Mohamad launched the MSC as part of a
shift from labor-intensive to high-technology industries. The
corridor runs from Kuala Lumpur to the international airport 60
km (45 miles) to the south.

Awang Had said the project would be divided into three phases,
adding that the studios under the first phase were almost 80
percent completed.