Billionaire Joseph Lau invests millions into HK movies

Heidi Hsia
·1-min read

10 Feb – Amid the ongoing challenges that are being faced by the Hong Kong film industry, billionaire Joseph Lau and wife Kimbee Chan Hoi-wan announced that they will be providing support to the industry.

As reported on Mingpao, the former chairman of Chinese Estates Holdings recently revealed that he and his wife have invested HKD 15 million for five locally produced films under Louis Koo's company, One Cool Film Production Limited.

Said Lau, he hopes to contribute to the film industry in order to help filmmakers overcome difficulties during the pandemic, and that if the movies were to gain profit from its release, the proceeds will all be donated to the Joseph Lau Charity Fund where it will be used for charitable purposes.

Among the five movies that received Lau's funding; one is currently in production, while the other is set to begin filming in March or April. These movies will also have full Hong Kong elements and use only local new actors.

Lau, who admitted to have loved watching movies since childhood, recalled that he would go and watch films with his family in a crowded theatre back in the 1950s.

"Now that the movie industry is facing difficulties, I am doing my best to help," he said.

According to Forbes Magazine, Joseph Lau is Hong Kong's fourth-richest tycoon.

(Photo Source: Mingpao)