RM200 Million Creative Industry Fund Takes Off

A RM200 million fund to help stimulate the creative industry took off the ground on Thursday.
- 31Dec2009 - BERNAMA -

Information Communication and Culture Minister Datuk Seri Dr Rais Yatim said the credit facility of between RM50,000 and RM5 million, which was meant for commercial creative activities, offered competitive interests and flexible conditions.

"As the credit facility is meant for commercialisation, it has to be governed by conditions imposed by the authorities and this is contrary to assumptions that the fund is free.

"There is no such thing as a free fund for business. But with interest rates of between two and four per cent, the rate is not only very low and flexible but also fair," he told reporters after launching the Creative Industry Fund here on Thursday.

The fund, which will is meant for filmmaking, musical production, animation, and related activities, was announced by Prime Minister Datuk Seri Najib Tun Razak in the 2010 Budget in October.

Rais said the credit facility, which would be disbursed through Bank Simpanan Nasional (BSN), would also be extended for asset purchases to facilitate commercial activities.

"Only sole owners, joint partners and private limited companies, and business entities with 51 per cent Malaysian ownership are eligible for the loan.

"Those, who are getting grants from the government agencies for projects or products are not entitled to the loan," he added.

He said 22 creative activities in four sectors, namely audio visual and new media (animation, interactive, film and television production), design (fashion, accessories), arts and craft (arts performances, handicraft, galleries), and print media (publishing, writing) can apply for the fund.

On the interest rates, he said it would be two per cent a year, calculated on a monthly basis for short-term projects and four per cent per year for projects lasting five years.

He said applicants could seek financing up to 90 per cent of their cost from a special committee set up by the ministry.

"The contract documents can be pledged as collaterals, which could be handed to the banks subject to conditions imposed, by producing eligible guarantors or by determining the adequacy of company assets," he added.

On the repayment, he said BSN would fix the instalments throughout project period, loan period or fast track repayment for those posting "blockbuster" revenue.

Rais said the credit facility could be taken in stages or one lump sum based on the conditions set by the bank.

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MyIPO-WIPO Survey Reveal Creative Industries Are A Major Driver Of Economic Growth In Malaysia
- 31Dec2009 - BERNAMA -

- excerpts -
...To raise awareness on the important role played by the creative industries, the World Intellectual Property Organisation (WIPO), in 2003, conducted a series of surveys focused on defining and mapping out the creative industries, and their economic contribution in over 30 countries worldwide.

"The idea was to gain a more accurate picture of the creative industry's contribution to the economy, promote creativity and Intellectual Property (IP) rights, and raise awareness and understanding of the importance of copyright as a contributor to the economy," WIPO's Acting Director for Creative Industries Division, Dr Dimiter Gantchev told Bernama.

Intellectual property refers to creations of the mind like inventions, literary and artistic works; and symbols, names, images and designs used in commerce.

It is the bedrock of the creative industries, yet many companies fail to appreciate its value, and so underestimate the need to protect their IP rights.

The surveys' results provided indisputable evidence that the creative industries are indeed economically significant and are comparable to other high profile sectors in terms of their contribution to income, employment and trade...

...These statistics are the 'smoking gun' that conclusively proved creative industries are a major driver of economic growth in Malaysia.

"The figures demonstrate that creative industries are the drivers of the economy, are more dynamic than many of the other sectors in Malaysia, and have managed to cushion the effect of the 2005 global recession," said Dr Vijatakumari Kanapathy, the independent consultant who carried out the survey...
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The Malaysian Film Industry
- 31Dec2009 - BERNAMA -

- excerpts -
...Nevertheless, Manjafilm's Managing Director, Anwardi Jamil noted that while the European and American viewers can easily differentiate films from other Asian countries that are screened at these festivals, our films are not easily identifiable as a Malaysian production because they lack that 'Malaysian' ambience.

"Look inwards for your source and inspiration, do not just borrow and adapt ideas from foreign productions," Anwardi urged.

However, the parameters of what constitutes a Malaysian film are not clearly defined.

"As long the producer is a Malaysian citizen, it is considered a Malaysian film," FINAS Director of Planning and Research, Balaraman Narayanasamy told this writer.

On the other hand, Film Directors' Association of Malaysia (FDAM) President, Ahmad Ibrahim stressed that in line with the 'Filem Kita, Wajah Kita' (Our Film, Our Image) mantra, a Malaysian film should be in the Malay language, with a Malay-majority cast.

While cultural diversity and ethnic plurality is aggressively being promoted in tourism billboards and brochures, why is there this assumption among some groups, that 'Our Image' is cohesive and homogenous?

When posed with this question, film producer Abdul Rahman Sallehudin concurred that there must be multi-ethnic characters in contemporary Malaysian cinema.

"It should reflect our culture and tradition, but only within the context of a multi-racial setting, and should not be dominated by any particular race," he added...
> read more