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KUALA LUMPUR – The National Film Development Corporation Malaysia (Finas) is implementing moves to restructure and recalibrate its policies, including the termination of its chief executive officer (CEO), for the betterment of local film productions.
In a statement today, Finas’ corporate communications unit said Md Nasir Ibrahim has been terminated as the corporation’s CEO effective May 31.
The post will now be temporarily held by Finas deputy director-general (management) Rozita Waty Ridzuan for an interim period until the position is filled.
“It is hoped that this initiative will be able to aid the Malaysian film industry to produce quality films that have local and international market value,” the statement said.
Finas also wished Nasir well, saying, “May he continue to excel in any industry or organisation that he ventures into in the future.”
Nasir was appointed Finas CEO in November 2021.
It is also understood that the CEO’s contract states that Finas, with the minister’s approval, can terminate the contract immediately by providing one month’s salary in lieu of a written 30-day notice – without providing any reason.
According to Section 9(3) of the Finas Act 1981, the corporation has the authority to appoint any other fit and proper person to take over the role of its CEO if it finds that the current appointee is, for any reason, “unable to exercise the powers and perform the duties of his office”.
The law stipulates that this move would require the prior approval of the minister charged with the responsibility for the development of the film industry.
Finas is under the purview of the Communications and Digital Ministry.
However, Nasir is expected to hold a press conference today after he claimed that the termination letter he received from Finas yesterday did not provide reasons for his removal. – The Vibes, June 1, 2023
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