M'sia-HK film pact benefits regional productions
National Film Development Corporation of Malaysia (Finas) chief executive officer Datuk Azmir Saifuddin Mutalib said the partnership was highly significant as it not only serves as a catalyst for film industry relations but was also the first joint film initiative announced after the official visit of Chinese President Xi Jinping to Malaysia last month.
'This strengthens diplomatic and economic ties through a cultural diplomacy approach.
'The strategic partnership also receives investment support from Chinese government-linked companies such as Bauhinia Cultural Group (a government-linked film investment company) and Sil-Metropole Organisation (a company that manages film investments).
'It reflects the confidence of international investors in the country's creative potential and production quality,' he said.
The MOU is a direct outcome of the Malaysian delegation's participation at Hong Kong Filmart last March, led by Finas, which resulted in a co-production agreement to produce a new international-class cinematic work.
Azmir Saifuddin said the initiative would greatly benefit the country's film industry by facilitating market expansion, enabling technology and skills transfer, and promoting Malaysia as a premier filming destination on the global stage.
'In addition, this project is also supported through the Film in Malaysia Incentive, which offers a 30% cash rebate to film and TV productions filming in Malaysia.'
The collaboration also aligns with the aspirations of Communications Minister Datuk Fahmi Fadzil, who has emphasised the importance of strategic collaboration, private investment involvement and sustainable film financing to reduce reliance on government funding in the national creative industry.
Azmir Saifuddin also expressed confidence that with collaboration between the public and private sectors, Malaysia would be able to make higher-quality strides on the global stage.
One example of recent success is the film Blood Brothers: Bara Naga, co-produced by Skop Productions and Primeworks Studios, which grossed RM45mil within 11 days of its theatrical release.
Mandarin Motion Pictures, renowned for its Ip Man franchise starring Hong Kong martial arts icon Donnie Yen, has also achieved tens of millions of ringgit in box office sales across Malaysia.
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