IMAGICA Corp. establishes Imagica International Asia Sdn Bhd and enters into a joint venture agreement to establish a post-production facility at Iskandar Malaysia.
IMAGICA Corp. has today established its wholly owned subsidiary, Imagica International Asia Sdn. Bhd. at Iskandar Malaysia in the state of Johor. Through Imagica International Asia, IMAGICA has also entered into a joint venture agreement with Candelon Ventures Sdn Bhdto set up a post-production facility, Imagica South East Asia Sdn Bhd at the Pinewood Iskandar Malaysia Studios in Iskandar Malaysia. Imagica International Asia will hold 49% equity interest in Imagica SEA with the balance to be held by Candelon, a wholly-owned special purpose vehicle of Khazanah Nasional Berhad.
Leveraging on the established infrastructure of IMAGICA, Imagica SEA is offering comprehensive digital post production facilities to all clients in the South East Asian region at Pinewood Iskandar Malaysia Studios from March 2014. In addition, Imagica SEA aims to commence the provision of the digital distribution services, such as Digital Cinema Delivery and Digital Distribution Management, and the archiving & restoration services from its Iskandar-based post production facility.
Mr Yukihiro Fujikawa, the President of IMAGICA said that "through this partnership at Pinewood Iskandar Malaysia Studios, which has one of the largest facilities and advanced film-based technology, IMAGICA offers comprehensive and highly creative digital post production services which IMAGICA has long led in Japan. The company will target major Hollywood feature films and televisions. 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 the digital distribution for content holders aiming to venture out to new markets in South East Asia. IMAGICA will be hub of the circulation of Japanese content development overseas”. Another key approach for Imagica SEA is professional training in post-production for young talent. “In collaboration with local training institutions, Imagica SEA aims to contribute to the development of creative industry around South East Asia,” added Mr Yukihiro Fujikawa.
Mr Michael Lake, spokesperson of Candelon, commented that “IMAGICA is a partner we are delighted to have. 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 for the success of the joint venture and the establishment of an international competitive post production facility.”
Mr Rezal Abdul Rahman, the Chief Operating Officer of Iskandar Malaysia Studios Sdn Bhd , welcomed the entry of IMAGICA to Pinewood Iskandar Malaysia Studios’ facilities. “For an integrated studios facility like Pinewood Iskandar Malaysia Studios, post-production is an important element to complete its service offering and IMAGICA’s strong track record of over 78 years and its leadership position in the Japanese post production industry is definitely a strong boost to Pinewood Iskandar Malaysia Studios’ aspiration to position itself as a world-standard integrated studio facility in Asia,” added Rezal.