RM152 million allocation for FINAS, local films capable to compete with international films – PM Ismail


KUALA LUMPUR: The government’s efforts in attracting foreign investments have positive impact via the investment data of the Film Producing Incentive in Malaysia (FIMI) that shows the National Film Development Corporation (FINAS) has obtained RM129.7 million as of Aug.2022 and is above the Key Performance Index (KPI) of RM100 million.

Prime Minister, Datuk Seri Ismail Sabri Yaakob said, for the domestic market, the success of the film “Mat Kilau” that collected close to RM100 million had proven local film could compete with international films that controls 60 per cent of the box office.

Ismail said, this success was followed by other films such as “Air Force The Movie” and “Abang Long Fadil 3” that collected more than RM25 million.

“I had watched the film “Air Force the Movie” and considered it capable to compete with international films. I am confident the success will give confidence to the producer, distributor and exhibitor on the ability of the local films to break the “deadlock” due to the COVID-19 pandemic impact,” Ismail said.

The Prime Minister said that at the closing ceremony of Ekspresi@FINAS Programme held at Studio Sound Stage FINAS, Hulu Kelang, Selangor, 24th Oct. 2022.

Ismail added, based on the Malaysian Statistics Department report, in 2019 the film industry had contributed 1.9 percent or RM29.4 billion towards the Gross Domestic Product (GDP) or had generated 216, 811 job opportunities.

Meanwhile the data of Motion Pictures Association of America (MPPA) had stated that the national film industry was placed on the 19th position in the world in 2019 and 2020 with the value of USD 3 billion.

The Prime Minister stressed that the government had tabled the 2023 Budget on 7th Oct. 2022. In the Budget, RM152 million had been allocated to FINAS to spur the film industry that will benefit various group of stake holders involving investor, producer, distributor, exhibitor, service provider and production staff.

“The Budget had also tabled RM50 million for Special Creative Patriotic Content Fund (DEKAN), RM102 million for Digital Content Fund and tax discount for contributors of Film Community Fund and Patriotic Film Development under FINAS.

“The exemption of import duty and sales tax for sales of studio equipments and film production is also in the Budget. Eighty percent (80%) of the contribution will be borne by the government for the Self Employed Social Safety Scheme (SKSPS) Social Security Organisation (SOCSO) for the FINAS art activists who should only pay 20 per cent contribution.

“However all the aids and initiatives could only be enjoyed in 2023 Budget if it is being tabled again at the Dewan Rakyat and approved after the 15th General Election,” Ismail said. – Malaysia World News











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