Istana Budaya reverses debts with new rental SOP

Istana Budaya

KUALA LUMPUR: A change in the rental process of its main hall has helped Istana Budaya overcome its outstanding debts, says its director-general Zubaidah Mukhtar.

She said the national theatre’s move to implement a new standard operating procedure from last year, with regard to the process and full procedure of renting out Panggung Sari, has helped it to cut its outstanding debts, which it has faced since 2010.

It’s said the conditions state that each production company must make full payment before a performance and has to bear the payment of overtime for Istana Budaya staff who work for the production company.

“To avoid further debts, we (Istana Budaya) need to be firm with all parties.

“Since we implemented this ruling, there have been no cases of ABT (accounts receivable) from the rental of the premises since last year,” she told Bernama recently.

According to Istana Budaya, it will continue to charge RM15,000 for each performance, which it has done for almost 25 years, and the production company is required to pay a deposit of RM10,500 before the commencement of the performance.

Before Istana Budaya closes its doors for two years next year, Zubaidah said any production company or agency interested in holding a performance or staging at Panggung Sari is welcome to do so before the end of the year.

“We still have several slots available for shows before we end the year. Interested parties can send in their requests by September,” she said.

Zubaidah said Istana Budaya will be closed from Jan 1, 2024, to Jan 1, 2026, to enable maintenance and repair work on the exterior of the iconic building, especially the replacement of the roof, involving an allocation of almost RM30mil.

“This is the first time the building will undergo major repairs and maintenance since it began operations nearly 25 years ago,” she said.

She said there will be no more delays and work will be completed within the stipulated period.