Local Film Industry Records RM164 Million Collections Under Compulsory Screening Scheme - Teo
KUALA LUMPUR, Oct 29 (Bernama) -- The local film industry has recorded 59 films under the Compulsory Screening Scheme (Skim Wajib Tayang), with 13 box office hits amounting to RM164.02 million as of Oct 26, says Deputy Communications Minister Teo Nie Ching.
She said that in 2024, Malaysia produced 58 films, with 13 titles achieving box office success, totalling RM117.19 million, while in 2023, a total of 62 films were produced, 16 of which reached the box office and generated RM102.66 million .
She said that the National Film Development Corporation Malaysia (FINAS) would also study the need to establish a dedicated Co-Production Fund for television formats, as part of the effort to strengthen support for local content.
“It is also to tap into the growing potential of the ASEAN market, aimed to encourage joint film and television productions among ASEAN member states,” she said in her speech during the gala dinner of the ASEAN Film & TV Summit 2025 here, today.
Also present were FINAS chief executive officer Datuk Azmir Saifuddin Mutalib, its chairman Datuk Hans Isaac, Malaysian Television Producers Association (PTVM) president Datuk Jury Latiff Rosli and Malaysian Youth Council (MBM) president Mohd Izzat Afifi Abdul Hamid.
Teo said regional cooperation within ASEAN was so crucial to share markets, talent, technologies, and to ensure that no creative nation was left behind.
“When we move together, the label ‘Made in ASEAN’ can stand as a mark of pride and creative excellence recognised and respected around the world.
“This initiative will empower ASEAN countries' television content industry to grow and compete globally, while further strengthening our nation’s collaboration within ASEAN,” she said.
She said the ministry and FINAS approved a total of 149 projects under the Film in Malaysia Incentive (FIMI), comprising 56 international and 93 local productions.
“During this period, the Government disbursed over RM189.9 million in rebates, successfully attracting RM1.05 billion in direct investments into Malaysia’s creative industry and creating 13,041 job opportunities.
“Participating countries include China, the United States, the United Kingdom, Finland, Denmark, Australia, Indonesia, Japan, France, Italy, and others,” she said.
She said under Budget 2025, a total of RM40 million was allocated to FIMI and from that, RM39.28 million had been disbursed to support 32 approved projects (12 international and 20 local), generating 2,766 job opportunities as of September 2025.
The gala night, held in conjunction with the ASEAN Film & TV Summit 2025 Series 2, also featured the signing ceremony of the International Co-Production MoU between production companies from ASEAN countries, the presentation of the MBM Film Lab and TikTok Competition Awards, as well as the reading of the ASEAN Creative Youth Declaration.
The ASEAN Film & TV Summit 2025 Series 2, from Oct 28-30, includes discussion sessions, creative performances and professional networking activities bringing together producers, directors, youth leaders and media practitioners from across ASEAN.
Jointly organised by PTVM and MBM with strategic support from FINAS, the programme aims to strengthen regional cooperation, promote co-productions and position Southeast Asia as a world-class creative hub.
The event has attracted the participation of more than 300 delegates from 10 ASEAN countries, with active involvement from industry players from Malaysia, Indonesia, Thailand, Vietnam, Brunei, Cambodia, the Philippines, Singapore and others.
-- BERNAMA
