This is the premise behind Amphibious, in which a village comes under attack from the monstrous creature. The 3-D horror flick will be directed by Philippines-born film-maker Brian Yuzna.

The film, to be post-produced by Singapore's Infinite Frameworks, is one of the first to benefit from a new scheme by the Singapore Film Commission (SFC) to promote 3-D film-making here.

The $2-million fund aims to partially fund six films over 18 months in stereoscopic 3-D format. This means that two slightly different versions of the same image are used to give the viewer the impression that the image he sees exists in three-dimensional space.

The money comes from the $10-million 3-D development fund launched in November last year.

Under the fund, Singapore companies looking to produce 3-D content can get up to 80 per cent of the incremental budget or not more than $350,000 for a feature film. Incremental budget refers to the additional budget needed to make a film in 3-D instead of traditional 2D.

The two other projects to benefit from the fund are the thrillers Necronauts, to be directed by American Brett Leonard; and Cold Blooded, by South Africa-born Richard Stanley.

All three films are produced by Yuzna's Komodo Films, which is based in Jakarta with an office in Singapore.

Read the full report in Friday's edition of The Straits Times' LIFE!.