|courtesy of on.cc|
The Checkley Sin Kwok Lam led National Arts Entertainment Culture Group yesterday announced that a 10% stake in Hollywood comedy star Eddie Murphy's Murphy Entertainment Studios LLC for HK$ 327 million. They would exchange stocks as Eddie Murphy would become a member of National Arts' board. National Arts Entertainment would be guaranteed no less than 50 million in cash dividends annually for the next three years.
Sin Kwok Lam yesterday said, "7 years later when I came up with the studio idea, the outside thought I was full of it. Some even asked if I would die. Now people say I have foresight! This time I had the intuition and make even the goverment issue a policy to make Foshan into 'Guangzhou Hollywood' and a world class film and television center. (Many Hollywood actors want to break into the Chinese market.) They see our development potential. Eddie Murphy has become our main shareholder and I am very happy. After years of hard work I have caught the eyes of the local government and Hollywood, it is really very encouraging!"