Kuala Lumpur:Government funding and continued support have significantly enhanced the quality and box-office performance of Malaysian feature films, as stated by National Film Development Corporation Malaysia (FINAS) chairman Datuk Dr Hans Isaac. This progress is evident as 40 percent of the 80 films produced have shown highly encouraging quality, marking a significant improvement from the challenges faced during the COVID-19 pandemic.
According to BERNAMA News Agency, Datuk Dr Hans Isaac highlighted that up to seven films in recent months have each recorded box-office takings of more than RM10 million. Previously, achieving RM1 million or RM2 million was challenging, with only a couple of films reaching RM3 million or RM5 million. The involvement of FINAS and government initiatives has facilitated these developments in the film industry.
He mentioned on Bernama TV's Ruang Bicara programme that the improved quality of local films has attracted interest from international industry players, including those from China and Indonesia, thereby opening opportunities for local productions to access wider markets. Initiatives such as the Film in Malaysia Incentive (FIMI), offering a 30 percent cash rebate, play a crucial role in enhancing local production capabilities and attracting foreign investment.
Under the 13th Malaysia Plan (RMK13), a RM300 million allocation for FIMI is expected to generate economic spillovers of up to RM700 million through filming activities and related ecosystem supply chains. International productions hiring local workers allow Malaysian crew to learn advanced technology and methods from Hollywood, Europe, and Netflix, aiding Malaysia in producing films capable of penetrating overseas markets.
FINAS chief executive officer Datuk Azmir Saifuddin Mutalib emphasized that the agency's role extends beyond grant financing. It acts as a catalyst for industry development and revenue generation from intellectual property. FINAS funding is tailored to different segments, including individuals, new companies, and established companies, through FIMI.
On social welfare, Azmir pointed out FINAS's collaboration with the Social Security Organisation (PERKESO) and Employees Provident Fund (EPF) to ensure social protection for arts practitioners, most of whom work as freelancers in the gig economy. This partnership ensures minimum insurance protection and opportunities for EPF contributions.
Additionally, FINAS is advancing its lifelong learning agenda through Technical and Vocational Education and Training (TVET) and Accreditation of Prior Experiential Learning (APEL) platforms.