The Malaysian film industry is set scale new heights over the next five years with a large inflow of production companies servicing it and with Iskandar Malaysia as its base.
Iskandar Malaysia Studios Sdn Bhd Chief Executive Officer Michael Peter Lake said the growth is timely and in line with the government's aspirations to further develop the creative content and communication media industries.
"The government is also very supportive of the 'Film in Malaysia' incentive, which is a big plus factor towards attracting production houses.
"I am very bullish now over the potential of the industry within Iskandar," he added.
The 'Film in Malaysia' incentive offers a 30% rebate to foreign production houses that spend a minimum of RM5 million in Malaysia.
Local production companies that spend at least RM2.5 million will be entitled to the same benefit.
Japan-based Imagica Corp and Khazanah Nasional Bhd have formed a joint-venture (JV), Imagica South East Asia Sdn Bhd (Imagica SEA), to establish the first international post-production facility at Pinewood Iskandar Malaysia Studios in Iskandar Malaysia with a RM9 million investment.
Imagica International will hold a 49% equity interest in Imagica SEA with the balance held by Candelon Ventures Sdn Bhd, a wholly-owned special purpose vehicle of Khazanah.
Lake said companies can take advantage of the fully–integrated facilities within Pinewood Iskandar Malaysia Studios which include five film sound stages over 100,000 square feet, the broadest range of post facilities under one roof, two 12,000 square feet high-definition equipped television studios and other support services.
Meanwhile, Imagica President Yukihiro Fujikawa said it was an exciting time to be in the region as the film industry was booming and that the company planned to tap the available potential.
He said Imagica was offering comprehensive and highly creative digital post-production services as well as the transfer of technical know-how to create more skilled players in the industry.
Apart from post-production activities, Fujikawa said the company would also commence digital distribution services such as Digital Cinema Delivery and Digital Distribution Management, alongside archiving and restoration services from its Iskandar-based post-production facility.
The services will be available starting next month.
Among notable post-productions works by Imagica is the film "Kagemusha" by the famous Japanese director, the late Akira Kurosawa and an animation short film, "Tsumiki No Ie", which won an Academy Award for Animated Short Film in 2009.
Source from ~ http://www.themalaysianinsider.com/business/article/malaysian-film-industry-set-to-soar-with-iskandar-malaysia-as-base
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