The Film Guarantee Fund has approved $1.25 million for My Way Film Company's Shaolin Vs Evil Dead II. Citic Ka Wah Bank agreed to provide $2.5 million, while the fund will guarantee 50% of the loan.

This is the eighth approval since the fund was launched in April 2003. Total commitment for film productions is about $9.12 million so far.

The fund provides loan guarantees to local lending institutions offering loans to film productions. The maximum guarantee for each film is 35% of the production budget or $2.625 million, whichever is less.

In March, the Legislative Council approved relaxing the fund's eligibility criteria. Production companies should have produced at least two films in the past 10 years for commercial release in Hong Kong before applying for guarantees under the scheme.

Application forms can be obtained from the Film Services Office, 40/F Revenue Tower, 5 Gloucester Road, Wan Chai, or downloaded from this website. Enquiries can be made on 2594 5729-6 or via e-mail to info@fso-tela.gov.hk.