Called the Singapore Film Awards, it is organised by the Singapore International Film Festival (SIFF).

Said Mr Zhang Wenjie, Festival Director of the SIFF: 'The Singapore film industry has been getting more vibrant in the past few years, and feature film productions have increased to an average of 10 or more a year.'

'We feel that the time is right now to have a Singapore Film Awards that embraces the diversity of the different kinds of local feature films made today, regardless of genre or budget.'

He said the awards will promote and recognise excellence in Singapore feature filmmaking, and hopes it will encourage local filmmakers and raise the profile of the Singapore film industry.

The categories are Best Film, Best Director, Best Screenplay, Best Performance, and Best Cinematography. The submission deadline for the Singapore Film Awards 2009 is Dec 20.

One of the eligibility criteria is that the film must be shot mostly in Singapore, with a Singaporean or permanent resident holding a major creative role, such as director, producer, writer or actor.

If the film is shot outside of Singapore, the majority of the major creative roles must be Singaporeans or permanent residents.

The SIFF is expecting about 4 to 5 nominees per category. They will be announced during the SIFF press conference in Feb 2009.

Ms Jasmine Ng, a local filmmaker and Board Director of the SIFF says: 'Giving recognition to our own films...will move us as a community to take stock of where we are at with each year, and chart where we need to go.'

Local filmmakers Jack Neo and Kelvin Tong told The Straits Times they thought the awards were a good idea and both will submit their films into the competition.

This year, Kelvin Tong directed Rule No.1 while Jack Neo directed Ah Long Pte Ltd and Money No Enough 2.