New event space sets stage for creative success
PETALING JAYA: Malaysia's creative industry received a fresh boost with the launch of Idea Live Arena, which is expected to serve as a catalyst for regional entertainment, said National Film Development Corporation Malaysia (Finas) chief executive officer Datuk Azmir Saifuddin Mutalib ( pic ).
He said the Idea Live Arena, located at the 3 Damansara shopping mall here and with a capacity to accommodate up to 7,000 guests, would not only enhance Malaysia's ability to host large-scale events but also align with the nation's aspirations to position itself as a regional hub for the entertainment and creative industries.
'This venue is fully equipped with the latest facilities and has the potential to become a stage for international-scale concerts and exhibitions,' he said, reported Bernama.
The venue was developed by Superstar Arena Holdings Sdn Bhd with an investment of RM40mil, involving structural upgrades, renovations, and the installation of world-class audio, lighting, and visual systems.
Azmir said the launch of the venue coincides with the implementation of the new Concert and Event in Malaysia Incentives (CEMI) programme by the Communications Ministry, aimed at attracting more international events to Malaysia while supporting the organisation of local events.
'With the CEMI incentive, we hope that more organisers will bring international concerts and entertainment events to Malaysia, thereby boosting the economy through the tourism, hospitality, and entertainment sectors,' he said.
Azmir added that the Idea Live Arena is already almost fully booked until the end of this year, reflecting strong demand for physical concerts and live events.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
a day ago
- New Straits Times
#SHOWBIZ: Sarimah Ibrahim now a producer
KUALA LUMPUR: Actress, television host, and radio announcer, Che Puan Sarimah Ibrahim, 47, has now added producer to her impressive resume. In a news report yesterday, Sarimah said it was the right time for her to venture into producing television programmes and even films, through her company, Sarimah Sdn Bhd. "I've just obtained a production licence from the National Film Development Corporation or Finas," she announced. "As an artiste, I can't just act; I need to diversify my roles to connect with more fans and advance my career." Sarimah revealed that she first considered becoming a producer a decade ago, encouraged by Zahrin Aris, the honorary secretary of the Malaysian Film Producers' Association and her co-star in the drama series Lelaki Itu. "To become a producer, I had to complete an online examination conducted by Finas and attend a three-hour briefing. I needed to score 75 per cent to secure my licence." Initially, Sarimah plans to collaborate with fellow producers, with her husband, Tunku Nadzimuddin Tunku Mudzaffar, serving as her co-producer. "My first project is a documentary focusing on women in the arts and the challenges they encounter. It's a co-production with Red Communications," she explained. Despite her new role as a producer, Sarimah confirmed she will continue to act in dramas. "Many actresses are also producers simultaneously; Dian Sastrowardoyo from Indonesia is a prime example," she said.
The Star
3 days ago
- The Star
More 'tamu desa' to built in Sabah, S'wak this year, says Ewon
KOTA KINABALU: The Entrepreneur Development and Cooperatives Ministry will construct more "tamu desa" (rural traditional markets) in Sabah and Sarawak this year, to enhance rural market facilities and empower entrepreneurs in both states, says Datuk Ewon Benedick. The Entrepreneur Development and Cooperatives Minister said the Madani government, through the ministry, had allocated RM20mil to implement the Tamu Desa Development Project this year. He added that this included an additional RM10mil announced by Prime Minister Datuk Seri Anwar Ibrahim at the Madani Rakyat Programme in Tawau last month. "Last year, we successfully built and upgraded 98 tamu desa across Sabah and Sarawak. This year, with an allocation of RM20mil, I hope the same number or more can be built," he said in a statement Monday (June 2). He was speaking after officiating the Kampung Pinasang Tamu Darat Kaamatan Festival in Kota Belud and subsequently launching the village's tamu desa, which was completed this year at a cost of RM250,000. Ewon said 14 tamu desa were built in the Kota Belud area, part of the 98 premises completed across Sabah and Sarawak last year. "I have been informed by the village leaders that these premises greatly benefit the residents, especially mothers and small entrepreneurs who conduct business weekly. They not only provide a more comfortable space for selling but can also be used for various community activities on other days," he said. According to him, the requirements for tamu desa development vary depending on the location and scope of work determined by the District Office, whether for new construction or upgrading, involving costs ranging from RM100,000 to RM300,000. As of May this year, he said, applications for new construction or upgrading of tamu desa premises in Sabah had reached RM40mil, including applications carried over from last year that could not be implemented, and this amount did not yet include applications from Sarawak "Although our budget is limited, what is important is the continuity of what was implemented last year. What we started last year will be continued and expanded this year. I am confident that this programme will be among the key inputs of the ministry in the 13th Malaysia Plan (2026-2030)," he said. The tamu desa initiative was also part of the government's commitment to pay special attention to the needs of rural Sabah and Sarawak, in line with the nation's inclusive development agenda, he added. - Bernama
The Star
3 days ago
- The Star
Strong power demand to fuel Malakoff prospects
PETALING JAYA: The RM40mil provision Malakoff Corp Bhd made for its coal inventory in the second half of the year (2H25) may be reversed to some extent in the second half of the year should coal prices rise. The independent power producer (IPP) made the provision in its first quarter ended March 31, 2025 (1Q25) financials which resulted in its earnings for the period falling 45% year-on-year (y-o-y) to RM34mil. OUB Kay Hian (UOBKH) Research expected Malakoff to write back some of the provisioning in the later part of the year should coal prices recover. Malakoff's revenue for the quarter eased 11% y-o-y to RM2bil due to lower dispatch because of lower economic activity in Peninsular Malaysia in the period, it added. Its overall dispatch to the grid was also lower by 6% y-o-y with lower offtake for its gas-fired power plants. 'The coal-fired power plants experienced lower energy payment due to a drop in coal prices,' the research house stated in a report following the release of the IPP's 1Q25 results. UOBKH Research lowered its net profit forecast for Malakoff for financial year 2025 (FY25) by 9% to capture the RM40mil provisioning and it expected the company to post a net profit of RM276mil for the year, which would be relatively flat y-o-y. It however kept its 'buy' rating on Malakoff with a target price (TP) of RM1.08 a share. 'In arriving at our TP, we have included a 1,400MW thermal power plant win. Our blue-sky fair value is RM1.25 per share, in the event Malakoff wins two 1,400MW power plants,' it noted. CGS International (CGSI) Research said Malakoff would submit bids to extend the commercial life of expired and expiring gas power plants – GB3 (640MW), Prai Power (350MW), and Segari (1,303MW) – under the Energy Commission's recently launched tender, which closes in June. 'Management also clarified that this new tender will not impact the initial letter of notifications it has already received for two new gas-fired power plants, which are progressing toward formalisation. Construction of the group's 84MW small hydro project in Kelantan is progressing well,' CGSI Research stated. It added Malakoff had completed the acquisition of a 49% stake in E-Idaman Sdn Bhd (which gives it exposure to waste management services in Perlis and Kedah) in February, and the company contributed some RM2mil to Malakoff's 1Q25 net profit figure. CGSI Research has also maintained its 'add' call on Malakoff with a lower sum-of-parts based TP of RM1.15 a share on the belief the group's valuation remains undemanding supported by net yields of above 5.5%. 'Malaysia's energy transition drive also improve Malakoff's prospects for new plant awards, thus supporting long-term earnings,' the researc house said. Rerating catalysts include the final investment decisions on projects in the pipeline, repowering of existing power assets and recovery in its dividend payout. Risks include return of negative fuel margins and unplanned plant outages. Kenanga Research, meanwhile, cut its FY25 and FY26 earnings forecasts by 24% and 25% respectively, to reflect the provisioning impact. It, however, kept its 'market perform' recommendation on the counter with a reduced TP of 77 ssen (from 80 sen) which is supported by a decent dividend yield of above 4%.
