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HONG KONG - VETERAN Hong Kong actor-singer Andy Lau, one of Asia's biggest stars, said on Wednesday he's signed with local record company East Asia Music in a deal that also involves the sale of Lau's song library to the label.
The agreement does not include any movie commitments, as had been reported in Chinese-language media, the 46-year-old star said.
East Asia Music (Holdings) belongs to the same media group as prominent Hong Kong movie company Media Asia Entertainment Group, which made the 2002 crime thriller Infernal Affairs in which Lau starred.
Lau's contract is reportedly worth 200 million Hong Kong dollars (S$37 million) but at a news conference he said it was much less than that amount, although didn't give an exact figure.
East Asia Music also declined to give the exact amount.
'I wish it were the amount reported in the newspapers, but it's far from that,' Lau joked.
Under the agreement, Lau becomes an East Asia Music recording artist for three years.
Lau said East Asia Music will also own the rights to his library of about 500 songs and absorb his music label, Focus Music, whose sole artist is Lau.
East Asia Music used to distribute albums produced by Focus Music.
'Administration wise, I think they (East Asia Music) will do a better job,' said Lau, who will maintain his own music production team.
Speculation of a movie deal arose because East Asia Music and movie company Media Asia are both part of eSun Holdings, which is 37 per cent owned by Hong Kong-listed developer Lai Sun Development.
Lau starred in Media Asia's Infernal Affairs - which was remade by Martin Scorsese as The Departed - and the company's upcoming US$40 million (S$58 million) historical epic The Warlords.
Other Media Asia movies he has appeared in include 'A World Without Thieves' (2004) and Wait Till You're Older (2005).
The actor said he will continue to work with Media Asia on a movie-by-movie basis.
He said he liked eSun's work in the entertainment industry.
'From Infernal Affairs until now, they've devoted quite a bit of time and effort to the entertainment industry. And they're quite careful,' he said.
Lau has been linked to Media Asia's planned film based on the classic Chinese novel Water Margin, also known as Outlaws of the Marsh.
The novel is about battles between more than 100 rebels and feudal officials set in the 12th century.
Lau said Media Asia is still working on the movie and hasn't pitched the project to him yet.
Lau's signing to East Asia Music adds another top singing talent to the label, which already counts Sammi Cheng among its recording artists.
East Asia Music will mark Lau's signing by releasing an album of his greatest hits. -- AP
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