Malaysian Imagica postproduction facility to open following joint agreement
MALAYSIA: Japan’s Imagica Corporation is to open a new jointly-owned postproduction facility at Pinewood Iskandar Malaysia Studios in Johor, naming it Imagica South East Asia. The news – which sees the Tokyo-based corporation working alongside Candelon Ventures Sdn Bhd to open the studio – follows the establishment of a wholly owned Malaysian subsidiary named Imagica International Asia Sdn Bhd.
Headquartered in the Shinagawa-ku district of Tokyo, Imagica Corp is among Japan’s leading postproduction specialists. Its new subsidiary will hold a 49 per cent stake in the Imagica SEA studio, with the balance to be held by Candelon, a wholly-owned special purpose vehicle (SPV) of Khazanah Nasional Berhad, the Malaysian government’s strategic investment fund. Due to open in March 2014, the facility – led by CEO Shinichi Noguci – will offer ‘comprehensive digital postproduction facilities to all clients in the South East Asian region’ plus digital distribution services, archiving and restoration work.
Following the announcement, Imagica president Yukihiro Fujikawa described the new post facility as targeting ‘major Hollywood feature films and television. With Japanese creativity and quality, Imagica SEA will challenge the world market in collaboration with Pinewood Iskandar Malaysia Studios. As one of the leaders in Japan, Imagica will promote digital distribution for content-holders, aiming to venture out to new markets in South East Asia. Imagica will be the hub of the circulation of Japanese content development overseas’.
Mr Fujikawa added that the facility is equally intended to become an educational resource for professionally training newcomers to the industry. ‘In collaboration with local training institutions, Imagica SEA aims to contribute to the development of creative industry around South East Asia,’ he said.
Michael Lake, a spokesperson for Candelon, struck an equally positive tone, commenting: ‘We are delighted to have Imagica as a partner. This serves as Khazanah Nasional Berhad’s continuous commitment to build a strong ecosystem around Pinewood Iskandar Malaysia Studios. Together with Imagica, Candelon is committed to the success of the joint venture and the establishment of an international competitive postproduction facility.’
Finally, Rezal Abdul Rahman, COO of Iskandar Malaysia Studios, welcomed the arrival of Imagica. ‘For an integrated studios facility like Pinewood Iskandar Malaysia Studios, postproduction is an important element to complete its service offering,’ he reasoned. ‘Imagica’s strong track record of over 78 years and its leadership position in the Japanese postproduction industry is definitely a strong boost to Pinewood Iskandar Malaysia Studios’ aspiration to position itself as a world-standard integrated studio facility in Asia.’