TCCF: Malaysia Set To Join Turkey, Indonesia, Philippines In Launching Co-production Funding Scheme
deadline.comContent agencies from Turkey, Malaysia, Indonesia and the Philippines presented their incentives and co-production initiatives at Taiwan Creative Content Fest (TCCF) on Thursday.
Malaysia’s National Film Development Corp (FINAS) revealed that it plans to join the regional trend to launch a scheme designed to stimulate co-production with its domestic filmmakers. “We’re moving towards gap financing and matching funds, which we’ll be announcing officially next year,” said FINAS CEO Azmir Saifuddin Mutalib. “We’re exploring how to get into gap financing and best match with our rebate systems.
Moving forward, we want to encourage more private investors to enter the picture.” Malaysia already has a location incentive for both local and international productions, Film In Malaysia Incentive (FIMI), which offers a 30% cash rebate on all qualifying Malaysian production expenditure, with an additional 5% rebate subject to a cultural test.
FIMI has so far supported 61 foreign titles, with combined cash payouts of $90M, and 54 domestic productions, with cash payouts of $14.5M.
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