Ex-nmp calvin cheng sets up joint fund of $132 million to develop media in china

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EX-NMP CALVIN CHENG SETS UP JOINT FUND OF $132 MILLION TO DEVELOP MEDIA IN CHINA

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10 Dec 2014 - 2:28pm








Former Nominated Member of Parliament and media entrepreneur Calvin Cheng has joined hands with Tembusu Partners and Mr Yu Dong, the founder of Bona Film Group – China’s largest private film distributor, to create a US$100 Million (S$132 Million) Fund to develop media in China.
The fund will be available over 5 years and is likely to reach out to other investors including Bona Film and Chia Tai Group from Thailand.
The fund is a private equity fund which will invest in the China Media and entertainment industry.
It will fund companies and technologies which can help to develop the media space in China and develop quality content.
Speaking about the set up of the new fund, the Media Development Authority (MDA) here claimed that the set up of the fund to reach out to China was a demonstration that Singapore was a leader in the region for media content as well as the financing and production of such media.






It is not known how much of the US$100 million that Calvin Cheng has put up.
It is also interesting that MDA would claim Singapore to be a leader in media development when in fact, netizens have long criticised the media environment in Singapore to be heavily restricted and with low pay.

Related:
Local Arts Theatre Director Criticises MDA for Restricting the Arts


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