Raymond Wong Launches Pegasus Films

Veteran Hong Kong producer Raymond Wong is launching a new production outfit called Pegasus Films. The company is intended as a vehicle for his son, Edmond Wong who has recently come into his own by scripting hit films such as 'Dragon Tiger Gate' and 'Ip Man'.

The company’s debut project looks set to be 'All’s Well, Ends Well 2010', a follow-up to this year’s Chinese New Year hit 'All’s Well, Ends Well 2009', which will be written and produced by Edmond Wong. The sequel, which has a period setting, is being set up as a co-production with Beijing-based Enlight Pictures and will be released during Chinese New Year 2010 (Feb 13-16).

Pegasus are also working with Enlight on the recently announced sequel to 2006's 'Dragon Tiger Gate' that is set to be directed by hot Hong Kong action director Dante Lam ('Sniper'). Both projects are being aimed at the mainland market where box office continues to boom despite the global financial downturn.

“Mainland box office is increasing rapidly year-on-year and Hong Kong/China co-productions figure prominently in the annual top ten,” Wong told Screendaily. “Action films like 'Ip Man' and 'Dragon Tiger Gate' also sell to the West although it’s been more difficult to do sales recently.”

Wong, who co-founded Cinema City in the 1980s, launched Mandarin Entertainment in 1992 and scored a hit with an earlier version of 'All’s Well, Ends Well' in the early ‘90s. Mandarin was listed on Hong Kong’s main board in 2001 and Wong sold a controlling share to a mainland real estate company at the end of last year.

In January, Wong stepped down as chairman of Mandarin, renamed China Mandarin Holdings Ltd, but remains as an executive director and still holds a 10% share in the company. He will continue to work on some Mandarin projects and has also teamed up with asset manager First Vanguard to launch a $100m fund for film and TV programming targeting the mainland China market.

Mandarin’s slate includes a sequel to 'Ip Man', scripted by Edmond Wong and starring Donnie Yen, which starts shooting in August.

Raymond Wong and director Wilson Yip

Source: Screendaily

Posted July 02, 2009