(Above) Video footage showing police investigators looking into the wreck of the blue Renault on Saturday night.

Two Singaporean women are fighting for their lives in an Australian hospital while a third, also a woman, has been charged with dangerous driving, following a horrifying accident near Melbourne over the weekend.

The three were part of a group of five Singaporean students - that included another man and woman - travelling in a blue Renault on Saturday.

At about 8.15pm (5.15pm Singapore time), their car was in Windermere near Ballarat, a city in Victoria, when it was involved in an accident with a white coupé at the junction of Remembrance Drive and Madden Road.

The accident resulted in the students' car crashing into a tree.

All five students were taken to the hospital.

The driver and two of the passengers sustained minor injuries.

LIFE-THREATENING

But the other two woman students - aged 21 and 26 - were described as having suffered "life-threatening injuries" by the police.

As of 5pm yesterday (Singapore time), the 26-year-old remains in critical condition, while the 21-year-old has serious injuries.

The two occupants of the coupé, a 48-year-old Victoria resident and his 10-year-old daughter, were also taken to hospital, but were later assessed to have no injuries.

Videos of the scene show about a dozen paramedics loading people into ambulances.

Police could also be seen looking through the wreck of the blue Renault in front of a tree, with its front portion smashed in.

What is believed to be the car's bumper could be seen about two metres away.

The white coupé can also be seen with its front portion smashed in.

The 21-year-old Singaporean driver was charged yesterday by the Victoria Police's Major Collision Investigation Unit (MCIU) with dangerous driving causing serious injury and negligently causing serious injury.

She has been remanded, and is expected to appear at the Ballarat Magistrates' Court today.

Speaking to Melbourne news channel Nine News Melbourne at the scene of the accident on Saturday, MCIU Detective Sergeant Mark Amos said: "At the moment, we're trying to get hold of their families overseas to give someone some very, very terrible news."

The authorities have yet to release the identities of the students, but it is believed they will do so upon successfully contacting their families.

Police are investigating.

If convicted, the Singaporean driver can be jailed up to five years for dangerous driving causing serious injury, and up to 10 years for negligently causing serious injury.

The New Paper contacted the Ministry of Foreign Affairs for comment.