SINGAPORE - Fabric-maker Asia Fashion Holdings announced on Tuesday (Nov 29) that its unit has entered a memorandum of understanding (MOU) with Emei Asia (Beijing) Culture Media.

Emei is a film company headquartered in Beijing that has a deep understanding of the China movie market and a highly competitive team, said the firm.

"Riding on its expertise in film production, Emei decided to shift its focus towards the television and movie industry in 2016, and has produced two movies scheduled for release in end of 2016 - The Writing's on the Wall and The Mutant," noted Asia Fashion in a statement.

The MOU will be valid for 60 days, and Asia Fashion's Asia Entertainment (Hong Kong) and Emei will negotiate and agree on terms and conditions regarding a new movie project.

If an agreement is made, Asia Entertainment and Emei will co-operate to invest in, plan, develop, produce and market the project, with a particular focus on the China movie market.

The plan is to produce 10 movies, with production to be completed in 2017 and released in 2017 and 2018.