Actor Anthony LaPaglia says he expects his new film Balibo, about five Australian-based newsmen killed in 1975 in East Timor, to cause some controversy when it is released.

Described as a tense political thriller, Balibo will recreate events surrounding the shooting of Brian Peters, Greg Shackleton, Gary Cunningham, Malcolm Rennie and Tony Stewart in the East Timorese border town during the Indonesian invasion.

LaPaglia will play Roger East, another Australian journalist who was murdered in Dili while investigating the deaths of the men who became known as the Balibo Five.

Last month, a coronial inquest in Sydney found that the killings classified as a "war crime" and Australia could launch prosecutions against the Indonesian soldiers involved.

"It's an incredibly important story and so much has been clouded for 30 or 40 years," LaPaglia told journalists on the red carpet at the AFI industry awards in Melbourne.

"Recently, that finding they had has opened up the story again. I think the story has great significance in Australian history."

LaPaglia said he was surprised by the inquest findings but pleased to see the truth brought out in the open.

"I'm really a cynic," he said. "I thought there had been a great effort to cover it up. It's going to be controversial when it's (the film's) released because there are a lot of people alive still."

Balibo was co-written by playwright David Williamson and Robert Connolly, and will begin shooting next year.