Malaysia to boost film industry

Malaysia to boost film industry

KUALA LUMPUR (AFP): Malaysia is setting up 20-million-dollar state fund to help finance film and television ventures by native Malays, Information Ministry Mohamed Rahmat said.

Mohamed said his ministry was working with the treasury and state-owned Bank Pembangunan Malaysia to develop the fund, Bernama news agency reported yesterday.

The move was part of the government's efforts to help the fledgling industry take off to exploit the rapidly expanding entertainment market here, the minister said.

Malaysia is due to launch up to 20 channels of satellite television programming when Measat Broadcast Network Systems begins operations in the middle of this year.

The country already has two state-owned stations, as well as the private Sistem Televisyen Malaysia, MetroVision and cable provider MegaTV.