Variety.com 26 Nov 2008, PATRICK FRATER
HONG KONG -- Singapore has set out its stall as a center of finance for the entertainment industry in Asia, mixing a generous supply of soft-money options with a largely favorable regulatory environment. Now being added into the mix is a series of funds run by private-sector operators.
In capital market matters, the territory often has played second fiddle to Hong Kong, but Singapore has generally outpaced its Asian rival in the fund-management and investment-trust industry. So the development of specialty funds for an industry that has been set as a national-priority growth area seems a natural extension of that process.
The government sees long-term benefits to development of the country as an entertainment hub through the "halo effect" and a trickle down of skills; hence its promotional campaign reads "made by Singapore" rather than "made in Singapore."
Its ubiquitous Media Development Authority has taken the initiative by courting companies from around the region to consider setting up their funds in Singapore and by greasing the wheels behind the scenes.
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