Berlin 2013: Malaysia to Launch Production Cash Rebates This Month
The scheme will offer a 30 percent reimbursement on qualifying expenditures by foreign productions.
The National Film Development Corporation Malaysia (Finas) will launch its previously announced production cash rebate scheme at the end of this month, chairman Afendi Hamdan told The Hollywood Reporter.
The "Film In Malaysia" initiative, which was formally announced at the ScreenSingapore/Asia Television Forum in Singapore in December, was originally slated to start on Jan. 15. The delay was due to “technicalities in fine-tuning” the procedure, Afendi said.
The scheme will offer a 30 percent reimbursement on expenditures by foreign productions spending more than $1.6 million (M$5 million) in production or $485,000 (MS$1.5 million) in post-production in the country.
Afendi said the scheme was founded partly to attract productions to use the Pinewood Iskandar Malaysia Studios, which are expected to be completed in April or May.
Meanwhile, Afendi also said the Kuala Lumpur Communications and Creative Industry Mart might shift from its March 26-29 spot on the calendar because of the possibilities of an upcoming general election at around the same time.