Vividthree Holdings Ltd. (SGX: OMK) recently announced that it is in discussions with Mirage Works, a proficient commercial Computer Generated Imagery (CGI) studio based in Kuala Lumpur, Malaysia, to produce two animation content projects for release in Asia.
For a quick background, Vividthree Holdings is a virtual reality (VR), visual effects and computer-generated imagery studio. The company has the intellectual property rights to produce VR products such as the Train to Busan VR Thematic Tour Show.
Co-production of 2 animation projects
Moving on, here are the details of the 2 animation content projects 1) Tiga Adiwira and 2) Panic Room.
Tiga Adiwira is Malaysia’s first time travel animated film, where three rivals in silat are transported to a different world in another dimension, and must fight off the evil forces to rebuild peace to their world.
Panic Room is an adaptation of the highly popular thriller webcomic by DarkBox Studio, which has gained over 1.5 million views.
Mr Charles Yeo, Managing Director of Vividthree is upbeat about the cooperation and mentioned:
“Tiga Adiwira and Panic Room marks the first project between Vividthree and Mirage Works. We are confident that the unique storylines, interesting characters and strong fan base for Panic Room, will resonate well and appeal to the audiences in the region. We look forward to working together with Mirage and expect to see results from this collaboration in the near future.”
Rise in Animation Films
This bodes well for the company as there has been a growing popularity in Asian animation films over the years.
The most distinguished one is Nezha, which was the highest grossing Chinese animation feature of all time. The film raked in more than US$700 million in box office in 2019.
In Malaysia, 3 local cartoon films, Upin & Ipin: Keris Siaman Tunggal, Ejen Ali: The Movie and BoBoiBoy The Movie 2, registered a total box office of over US$20 million in 2019, as the movies enjoyed commercial success not only in Malaysia but across the region.
Recent Developments
On top of the above collaboration, VividThree has been announcing many developments to date:
- Vividthree and NTUC Club to Launch ‘Masters of Speed’ Go Kart Competition
- Vividthree to buy rights to horror-themed comic for S$1.5m
- Vividthree brings zombie outbreak movie to life
- Resurgence and Vividthree in discussions to produce esporting events
All in all, investors would need to look beyond its FY2021 results due to the slowdown in its projects caused by the pandemic.
The partnerships mentioned above may be the catalysts for its future growth after Vividthree ride through this unprecedented crisis.
Shares of VividThree last traded at 3.7 Singapore cents and is valued at 0.53x Price/Book.
You can also read more about VividThree’s IPO here.
