- No money from MDEC, which will make it easier to attract Indonesian LPs to the market.
- Increase to the digital content sector, which generated cumulative US$ 20.3 % in revenue between 2011 and 2013?
Malaysia’s Digital Content and Digital Content Fund was established through an MOU signed by MDEC and CICC Capital Management Co, Ltd., with a goal account size of US$ 100 million ( RM429 million ) to support Malaysia’s digital content habitat, which generated combined income of US$ US$ 87.25 billion over a 13-year time from 2011 to 2023.
According to MDEC, it will make it easier for Malaysian Limited Partners ( LPs ) to make an investment in the fund, with a goal of contributing between 30 % and 50 % of the fund’s size.
With a market cap of US$ 17.80 billion ( RM 76.45 billion ), CICC Capital is the private equity investment arm of Hang Seng listed China International Capital Corporation Limited ( CICC), a government-owned investment bank in China.
Gobind Singh Deo, the minister of modern, said that home sales totaled RM76.07 billion and exports accounted for RM11.18 billion of the RM87.25 billion profit from the 2011 to 2023 time. Additionally, investments totaling RM80.26 billion were made in the industry.
]RM1 = US$ 0.233]
Gobind claimed that the account will help to further grow Malaysia’s online content sector and demonstrate how much more people are interested in Malaysia’s position as a gaming hub there.
The modern content market, according to MDEC, has created 8, 200 employment as of 2023, with over 300 local digital content companies, making up an estimated RM1.4 billion to the country’s GDP in 2023.
In the meantime, a number of innovative content businesses have won praise from around the world. For their game” Rhythm Doctor,” 7th Beat Games became the first Malaysian studio to receive an Independent Games Festival ( IGF ) Award 2024 in California, US. Upin & Ipin, Ejen Ali, Mechamato, and Didi & Friends, two internationally acclaimed video titles, have received good reviews, elevating the country’s artistic status and boosting export growth.
Additionally, Malaysian game studios like Passion Republic and Glow Production are establishing themselves as leaders in the international gaming space by providing high-quality game art and co-development expertise to movie titles like Spider-Man Remixed, Baldur’s Gate 3, and Elden Ring.
Gobind expressed confidence in the potential growth of Malaysia as a gaming hub at the MOU. He claimed that new partnerships between Malaysian businesses and those in other nations with robust gaming ecosystems and industries could help achieve this.
Indeed, that is already taking place. The Upin &, Ipin Universe, the first open-world console and PC game based on the Upin &, Ipin franchise, was jointly published by Les ‘ Copaque Sdn Bhd, creators of Upin &, Ipin, in February.
The establishment of the China-Malaysia Gaming and Digital Content Fund is anticipated to advance the industry further and move the country closer toward achieving Malaysia’s goal of dominating the global gaming market, he continued.