Magazine article Screen International

Dick Cook in Talks for Further Chinese, Malaysian Financing

Magazine article Screen International

Dick Cook in Talks for Further Chinese, Malaysian Financing

Article excerpt

According to senior executives of LA-based Dick Cook Studios (DCS), the involvement of heavyweight state-owned enterprise CITIC Guoan has attracted interest from several other Chinese investors.

Film Carnival is a Hangzhou-based producer/investor that is working with Hong Kong directors Wingo Siu, Jeffrey Lau and Ching Siu-tung and Korea's Kim Ki-duk.

DCS was expected to formally announce a financing deal with Film Carnival on the day following the summit, but talks are still ongoing and expected to continue this weekend in Hangzhou.

CITIC Guoan, which is investing $150m in DCS, is a subsidiary of state-owned investment giant CITIC that focuses on computer systems, cable TV networks, real estate, tourism and wine.

The China-US Summit was held in CITIC Guoan's sprawling Grand Epoch City complex, a reconstruction of Beijing's old walled city, which is being developed as a film shooting base and tourism resort.

It emerged during the summit that Malaysian sovereign wealth fund Khazanah Nasional Berhad was initially being lined up as DCS's lead investor, although it appears to be taking time to lock down a deal. Khazanah's existing investments in the cultural sector are all Malaysian and include Pinewood Iskandar Malaysia Studios, Rhizophora Ventures, which invests in Malaysian content, and a minority stake in pay-TV giant Astro. …

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