Nusajaya : Malaysia film industry is set scale to soar to new heights over the next few years with a large inflow of production companies servicing it, which is expected to make Pinewood Iskandar Malaysia as their base.
Iskandar Malaysia Studios Sdn Bhd CEO Michael Peter Lake said the growth is in line with the government’s aspiration to further develop the creative content and communication media industries.
“The government is very supportive of the ‘Film in Malaysia’ incentives, which is a big plus and main factor towards attracting production houses and creative content industries to flourish”.
“I am very bullish over the potential of the creative content and communication media industries within Iskandar Malaysia,” he added.
Michael Peter Lake told reporters about this after the signing ceremony between Imagica Corp and Candelon Ventures Sdn Bhd, a wholly-owned special purpose vehicle of Khazanah Nasional Bhd.
The Fim in Malaysia incentive offers a 30 per cent rebate to foreign production companies that spend a minimum of RM5 million in Malaysia.
Local productions companies that spend at least RM2.5 million entitled to the same benefit.
Japan-based Imagica Corp and Khazanah Nasional Berhad have formed a joint venture JV, Imagica South East Asia Sdn Bhd (Imagica SEA), to establish the first international post-production facility at Pinewood Studios in Iskandar Malaysia with a RM9 million investment.
Imagica Corp will hold 49 per cent equity interest in Imagica SEA with the balance held by Candelon Ventures Sdn Bhd, a wholly-owned special purpose vehicle of Khazanah.
Michael Peter Lake said companies can take advantage of the fully integrated facilities within Pinewood Iskandar Malaysia Studios, which includes 5 film sound stages over 100,000 sq ft, the broadest range of post facilities under one roof, 2 of 12,000 sq ft High Definition (HD) equipped television studios and other support devices.
Meanwhile, Imagica President Yukihiro Fujikawa said it was an exciting time to be in the region as the film industry was booming, and 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.
Fujikawa said in a statement that they will target major Hollywood feature films and TV shows as post-production clients, along with companies from booming Southeast Asia region.
“With Japanese creativity and quality, Imagica SEA will penetrate into world market in collaboration with Pinewood Iskandar Malaysia Studios,” Fujikawa added. “As one of the leaders in Japan, Imagica will promote the digital distribution for content holders aiming to venture out to new markets in Southeast Asia.”
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 Pinewood Studio Iskandar Malaysia post-production facility.
Opened last May, Pinewood Iskandar Malaysia Studios is a RM120 million joint venture between Khazanah Nasional Berhad and UK based Pinewood Studios, where J.J. Abrams’ Star Wars: Episode VII will be produced.
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