#Showbiz: Finas hands over RM1.9m to 22 production firms

THE National Film Development Corporation Malaysia (Finas) has distributed RM1.9 million to 22 production companies under its Feature Film Screening Incentive (ITFC) scheme.

This was part of the second instalment of the ITFC distribution this year for the chosen companies that had their feature films screened in cinemas from 2022 to August 2023.

Recently at Finas's Pawagam Mini P. Ramlee in Kompleks Studio Merdeka in Hulu Klang, Ampang, Selangor, Finas chief executive officer Datuk Azmir Saifuddin Mutalib distributed the incentives to the 22 production companies that created films which were screened under the body's Compulsory Screening Scheme.

Azmir said that the distribution of the ITFC was done to encourage production companies to come up with more films.

"This is part of the ongoing efforts by the Communications and Digital Ministry via Finas to aid in the development of the local film industry.

"The objective for the introduction of the ITFC is to help production companies cover their costs.

"Finas is aware that 25 per cent of the box office collection for a feature film will be deducted as an entertainment duty that will then be distributed to the cinemas and distributors.

"What remains for the producers is just about 30 to 40 per cent of the gross ticket sales collection. So this is where the government feels that the ITFC aid, even though it amounts to just 10 per cent, can in a way serve to encourage producers to keep on producing films."

Azmir added that production companies should continue to make use of the incentive and funds provided by the government, like the Digital Content Fund and the National Fund to create quality work.

According to him, the satisfaction of the audience should be a priority as they have the right to choose the best films to watch.

"We must be thankful to the government for providing many means of assistance that kept businesses going when the country was afflicted by the Covid-19 pandemic.

"We see many films racing to be screened nowadays, which is a really great development for the industry.

"But it would also be even better if producers can create quality films, since this involves consumers.

"So their satisfaction has to be a priority as they are spending their money for this."

Azmir added that Finas was prepared to help producers to understand the trends and viewer preferences in order to produce films that cater to the demands of the market.

"This way, local producers will be able to openly compete with international film markets."

During the event to distribute the ITFC, the animated film Mechamato, produced by Astro Shaw Sdn Bhd and Animonsta Studio Sdn Bhd, received the highest amount of the incentive, amounting to RM500,000, following its success in securing a box office collection of RM34 million last year.

The other feature films that received the ITFC were Hani, Little Sunshine, Imaginur, Daddyku Gangster, Coast Guard, Gila Gusti, Sawadikap Pei, Adai Mazhai Kaalam, Harum Malam, Duan Nagabogho, Imam, VII XII, Tribesman, Thalli Pogathey, Silence of The 177, Eva (Take Me As I Am), KK Knockout, Hungry Ghost Diner, Sumpahan Jerunei, Kannera and Kalluri Rascal.

Films that garnered a gross collection of RM2 million and below received an incentive of 10 per cent of the gross ticket sales collection.

Those that managed to collect more than RM2 million were given 10 per cent for the first RM2 million, and five per cent for the remaining gross collection.

The maximum amount for the incentive given out for those eligible was RM500,000.

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