CJMY
Iskandar Malaysia Studios (IMS) is set to play a crucial role in positioning Johor as one of the best filming locations in Asia and on a global scale. The State Government, led by Johor Menteri Besar Datuk Onn Hafiz Ghazi, is confident that the complete infrastructure and capabilities of IMS will attract more productions and produce internationally acclaimed films and dramas in Johor.
In a recent Facebook post, Onn Hafiz emphasized the need to strengthen the film and creative industry ecosystem in Johor to realize this aspiration.
He expressed his belief that with concerted efforts and cooperation from all stakeholders, IMS can contribute to the growth of employment opportunities, boost the tourism sector, and elevate Johor’s reputation on the global stage.
Johor MB aims to strengthen Johor’s film industry
During a visit from the delegation of IMS Sdn. Bhd., the Menteri Besar discussed various plans and directions to ensure the progress of the film and creative industry, particularly in Iskandar Puteri. The aim is to leverage the complete infrastructure of IMS and establish it as a thriving hub for film and television production.
Onn Hafiz hopes that the film and creative industry at IMS will not only create employment opportunities but also further stimulate the tourism sector in Johor. By attracting international productions, Johor can showcase its diverse landscapes, rich cultural heritage, and modern facilities to a global audience. This exposure will contribute to the promotion of Johor as a vibrant and attractive destination for both filmmakers and tourists alike.
The presence of key figures during the visit highlights the commitment to the development of the film industry in Johor. Lee Ting Han, Chairman of the Investment, Trade, and Consumer Affairs Committee of Johor, Rashid Karim.
They were joined by Chief Executive Officer of IMS, Aidah Ahmad Adzmi, Deputy President of Economic and Investment of the Iskandar Regional Development Authority (IRDA), and Catherine Lee, Chief Development and Business Officer of IMS.
Khazanah Nasional clarifies Iskandar Studios share sales
Addressing concerns about the recent sale of assets related to Iskandar Malaysia Studios, Deputy Finance Minister Steven Sim clarified in the parliament that Khazanah Nasional Bhd, the sovereign wealth fund, had only disposed of shares in the studio’s operating company, Iskandar Malaysia Studios Sdn Bhd (IMS).
The film and television production complex in Iskandar Puteri, spanning a 19.8-hectare site, is still owned by Khazanah’s special purpose vehicle, Tanjung Bidara Ventures Sdn Bhd.
The decision to sell shares in IMS was made to seek a new partner capable of better managing the studio. IMS has faced financial sustainability challenges, exacerbated by the impact of the Covid-19 pandemic on the film industry. By selling the shares, Khazanah avoids the need to continuously fund IMS, which was estimated to incur losses of up to RM14 million annually.
The new partner selected by Khazanah is Studio Management Services Sdn Bhd, a consortium led by the local management team of IMS, regional partner GHY Culture & Media Holding Co Ltd, and its subsidiary, GHY Culture & Media (Malaysia) Sdn Bhd. GHY, a leading media group in the Asian entertainment industry, is listed on the Singapore Exchange.
The share purchase agreement between Khazanah and Studio Management Services has been signed, with completion pending the fulfilment of conditions. The transaction is expected to generate RM32 million from the sale of shares for Khazanah, along with an estimated total rent payment of RM26 million until 2036.
Furthermore, Studio Management Services aims to bring in new productions, projecting potential revenue of RM800 million within five years. This influx of productions will contribute to job creation within the studio ecosystem, providing a positive impact on the local economy.
With the vision of promoting Johor as a premier filming location, Iskandar Malaysia Studios (IMS) is poised to bolster the film and creative industry in the region. The support and confidence of the State Government, led by Onn Hafiz , along with the partnership with Studio Management Services, highlight the commitment to driving growth and sustainability in the industry.
IMS offers a range of services, including state-of-the-art stages, television studios, water filming tanks, production support facilities, as well as procurement and design services for feature films and television projects. These comprehensive offerings position IMS as a hub for filmmakers and creatives, attracting both local and international productions.
With the collaboration between stakeholders and the continuous development of the film and creative ecosystem, Johor is poised to emerge as a prominent destination for the film industry in Asia and globally. The efforts to promote the state’s natural and cultural assets through films and dramas will undoubtedly contribute to the economic growth and international recognition of Johor.
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