CFA Society Singapore
SINGAPORE (Aug 16): Frame Pictures, the wholly-owned subsidiary of Spackman Entertainment Group, has secured a contract worth KRW220 million ($0.3 million) to supply camera systems and equipment for the filming of an upcoming Korean crime thriller film entitled Deceptive Murder.
In a press release on Thursday, the group says the latest deal marks Frame Pictures’ 13th project secured in the year to date.
Presently, the entertainment production group is also leasing its camera sets for the filming of two Korean movies, namely The Body and Live Up To Your Name – as well as two currently-airing Korean dramas, Save Me and Bad Boy Season 2.
Charles Spackman, executive chairman and CEO of Spackman Entertainment Group, highlights that Frame Pictures is currently bidding for another 15 new projects for the remainder of the fiscal year.
“On average, the completed projects thus far have resulted in an EBITDA margin of over 50%. Moreover, in order to increase revenue per project in the future, Frame Pictures plans to additionally provide post-production services including sound and color mixing,” says Spackman.
“We expect the continuity of such deals and introduction of add-on services to help the group deliver a more consistent revenue stream and positively add to the group’s financials for the year.”
Shares in Spackman Entertainment Group closed 5% lower at 9.7 cents on Wednesday.