FINAS Act Amendments Aim To Keep Film Industry Governing Body Relevant, Says CEO

KUALA LUMPUR, Dec 2 (Bernama) -- Amendments to the National Film Development Corporation Malaysia (FINAS) Act 1981 (Act 244) are aimed at ensuring that the film industry governing body remains relevant amid rapid changes and technological advancements in content production.

FINAS chief executive officer Datuk Azmir Saifuddin Mutalib said the amendments, centred on industry development, governance and enhanced functions and enforcement powers, reflect the creative sector’s strongest growth in 40 years, marked by a record number of box-office hits.

From an economic standpoint, he said the revised Act 244, together with the National Film Policy (DFN) 2025, will recognise the film industry as a key driver of the creative economy and a contributor to the nation’s Gross Domestic Product (GDP).

“In the next 10 years, the film and creative industries will be among the important sectors generating economic growth… for example, cinema licences alone generate almost RM2 billion in revenue per year,” he said at a special briefing on the National Film Development Corporation (Amendment) Bill 2025 here today.

Azmir Saifuddin stressed that the amendments do not restrict creativity, but instead protect creative workers as well as film and content production activities.

Deputy Communications Minister Teo Nie Ching had tabled the bill for first reading in the Dewan Rakyat on Nov 27, and it is expected to be tabled for second reading tomorrow.

Among others, the bill seeks to revise the corporation’s membership structure to reflect current needs, including abolishing the post of deputy chairman.

It also aims to expand FINAS’ powers to include providing training related to the film industry.

-- BERNAMA