M'sia And S'pore In Entertainment, Media Tie-Up

KUALA LUMPUR, Jan 30 (Bernama) -- Malaysia and Singapore are combining efforts and resources in a strategic entertainment and media industry alliance to penetrate the global market. To jumpstart the initiative, Singapore's Media Development Authority (MDA) will be leading 33 entertainment and media companies to Kuala Lumpur from Jan 30 to Feb 1, and they will be hosted and facilitated by Malaysia’s National Film Development Corporation (FINAS). In a statement Monday, Global Creative and Media Agency (GCMA) said FINAS and MDA have been in talks towards concretising a co-production agreement since October last year. The three-day official mission, led by MDA Chief Executive Officer Aubeck Kam, will comprise visits to major studios/broadcasters, workshops, forums, business-matching sessions and networking receptions. FINAS has arranged for the Singapore delegation to visit broadcasters such as RTM, Media Prima, Astro, and major studios such as Metrowealth, KRU, Les’ Copaque Productions, MM2 Entertainment, Animasia Studio and Funcel. A business matching programme co-organised by FINAS and MDA is expected to attract some 50 Malaysian companies and 33 Singapore studios, with more than 200 pre-arranged meetings. FINAS Director General Mohd Naguib Razak said with healthy growth in the region, it would be very potent for FINAS and MDA, being the respective competent authorities for both countries, to spearhead and encourage more co-productions and combined distribution projects from within the region to penetrate the global market. According to the latest Global Entertainment & Media Outlook 2011-2015 from PwC, entertainment & media spending in the Asia-Pacific is projected to increase by a compound annual growth rate (CAGR) of 9.3 per cent over the next five years, while Malaysia and Singapore are making healthy growth at a rate of 7.1 per cent and 5.5 per cent respectively Meanwhile, Kam said Asia’s media industry is fast expanding, and Southeast Asia is likewise experiencing rapid growth. This business mission is a good platform to further synergise efforts and open the way for Singaporean and Malaysian companies to create compelling content that resonates with local and international audiences, he added. -- BERNAMA