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 Business

MDV to offer RM450 mln financing to tech firms this year

27th February, 2020

KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV) will offer more than RM450.0 million in new financing to cater for technology companies and project financing requirements in 2020.

Chief executive officer, Nizam Mohamed Nadzri said the company had refined its business focus to be more in line with the current emphasis on sustainable development and technological empowerment as a means to achieve continued economic stability and overall prosperity for the people.

“In keeping with MDV’s mandate, we will be looking to continue supporting the nation’s technology agenda in 2020 through portfolio rebuilding initiatives by committing our efforts and resources to developing the company’s newly-identified key priority areas within the technology sector, namely digitalisation and information and communications technology (ICT), green technology, connectivity and startups,” he said in a statement.

To-date, MDV has financed 897 technology projects with more than RM11.9 billion in financing disbursements. With regard to startups, MDV offers a number of programmes to fit their unique requirements, including venture financing, the Shariah-compliant equivalent of the venture debt models currently used by more developed markets, for high-growth venture capital-backed technology startups in Malaysia.

MDV is also currently the only dedicated energy performance contracting financier in the country.

“The year 2020 will also see the efforts by the government in boosting the growth of start-ups and technology-based companies via collaborations and partnerships between MDV, Cradle Fund and Malaysia Venture Capital Management Bhd (MAVCAP).

“This is beginning to materialise as all three agencies are currently working to define the scope and areas of collaborations that can yield optimal outcome to the targeted group by enabling a funding platform offering grants, equity and debts, for the continued development of the Malaysian technology sector as a whole,” Nizam added. –Bernama

   
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