Music Royalties To Be Paid In December Says Ministry

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About RM30 million in royalties is owing to singers and musicians in a dispute involving collection companies.KUALA LUMPUR: The distribution of royalty payments to singers and musicians who have been affected following the dissolution of Music Rights Malaysia Berhad on July 10 will be done no later than this December, officials said.
The decision was reached at a meeting held by the Insolvency Department, Recording Performers Malaysia Berhad, and the performers verification and claims committee of the Performers Rights and Interest Society of Malaysia Bhd (PRISM), Bernama reported.
News of the breakthrough comes a week after FMT reported that close to RM30 million in royalties owed to recording artistes, musicians and performers has been lying idle with two companies authorised to distribute the payments.
Around RM20 million is stuck with the now-defunct consortium Music Rights Malaysia Berhad, which was closed by the government this year over alleged irregularities, and RM9 million in cash and receivables lay with Recording Performers Malaysia Berhad.
Freddie Fernandez, head of the Malaysian Artistes’ Association.Last week, Freddie Fernandez, head of the Malaysian Artistes’ Association (Karyawan), urged the Malaysian Anti-Corruption Commission to investigate whether “hidden hands” might have manipulated the collection of royalties for their own gain.
Bernama reported that the ministry of domestic trade and consumer affairs, in a statement with the ministry of communications and multimedia, said that the two ministries were very concerned over the issue, and hoped the royalty distribution process could be resolved soon.
The statement said the two ministries are committed to developing the creative industry and giving priority to ease business operations and will work together to address this issue based on existing laws.
The statement added that PRISM members were advised to provide support and cooperate with the Insolvency Department, as the trustee, to verify those truly eligible to receive royalty arrears.
According to the statement, artistes could also refer to the Copyright Tribunal under the Intellectual Property Corporation of Malaysia (MyIPO) over any disputes, Bernama reported. - FMT

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