The National Film Development Corporation of Malaysia, known as FINAS, used a showcase session at Hong Kong Filmmart on Tuesday to announce that the Malaysian government has approved the allocation of RM300 million ($76.5 million) for the cash rebate program over the next five years. The agency chief said the update will solidify the country’s position as a leading destination for international productions in the Asia-Pacific region.
FINAS CEO Datuk Azmir Saifuddin Mutalib told participants at the session “Malaysia on Screen: Driving global production through incentives, tourism and creative excellence” that the rebate renewal was based on more than 10 years of performance. Since the program’s inception 13 years ago, FINAS has disbursed rebates of RM580 million ($147.9 million) across 243 projects, while total investment has increased to RM2.8 billion ($7.9 million). It has attracted close to US$13.8 billion (US$13.8 billion) into the country, created approximately 30,000 jobs, and generated an estimated multiplier effect of US$7 billion (US$1.78 billion) across tourism, hospitality and related services.
The revamped program supports both international productions and domestic projects from abroad, with global productions accounting for RM2.25 billion ($573.3 million) in investment, and domestic projects contributing a further RM550 million ($140.2 million), according to FINAS data.
Azmir noted that Malaysia’s rebate sets itself apart from comparable programs offered around the world as it covers a wide range of formats, from feature films and documentaries to television series, streaming productions, visual effects and post-production work, and extends eligibility to top talent, including actors and performers working in Malaysia. Among the notable productions previously supported by the program, he cited post-production work on “Star Wars” and location filming for the Marvel movie “Thunderbolts,” some of which was shot at Merdeka 118 Tower in Malaysia.
The session also served as a platform to highlight that 2025 is a breakthrough year for Malaysian cinema. Domestic movie box office revenue in Malaysia reached an all-time high of RM244 million ($62.2 million), nearly double the RM125 million ($31.9 million) recorded in 2024 and more than double the RM108 million ($27.5 million) recorded in 2023. Total investment and sales between Malaysian companies and foreign partners exceeded 1 billion ringgit ($255 million) annually, thanks in part to three years of box office sales. It has reached an agreement with Banijay Nordic for the unscripted series “Survivor,” which will be shot in Malaysia, and expanded its animation partnership with Hasbro Entertainment, which covers titles such as “Transformers” and “My Little Pony.”
On the regulatory front, Azmir highlighted the recently passed amendments to the FINAS Act that expand the legal definition of “film” to include television content, documentaries, animation and AI-generated content, a move that will future-proof the agency’s mission as emerging technologies reshape the production pipeline. The reform bill also introduces a series of worker protections for cast and crew, including standardized labor contracts, compulsory insurance, and permits governing the employment of child actors.
The showcase also held a signing ceremony for the Malaysian action film “Conspirasi,” at which Elepfilm Entertainment signed an international distribution agreement with Hong Kong-based Reliance Media Entertainment. The film is said to be a story rooted in anti-corruption and national crisis themes.
Alongside announcing incentives and deals, Azmir also mentioned the BBC and Sony Pictures co-production, the TV version of Lord of the Flies, which was filmed over four months on Langkawi island to showcase the diversity of Malaysian locations. He also highlighted the country’s growing reputation as a hub for unscripted formats, noting that multiple international survival series are currently being produced set in the country’s diverse landscapes, from the depths of the rainforest to the islands of Sabah and Sarawak.
Looking ahead, Mr. Azmir outlined FINAS’ strategic priorities for the next five to 10 years. He said the aim is to build Malaysia’s domestic film industry into a regional force, solidify the country’s position as a preferred hub for international unscripted productions in Southeast Asia, and expand its animation sector, which already leads the region in terms of animated theatrical releases.
