KUALA LUMPUR (March 21): Malaysia Debt Ventures Bhd (MDV), a wholly-owned subsidiary of the Minister of Finance Inc, has recently received approval for the issuance of RM270 million Islamic medium-term notes (iMTN) from its RM1 billion sukuk facility.
The technology financier company said the issuance will be used to finance companies under its mandate, primarily small and medium enterprises (SMEs) involved in information and communications technology (ICT), green technology and emerging technology in Malaysia.
“The approval will facilitate MDV’s existing commitment of timely funding to customers in implementing their projects and generating new economic and employment activities targeted towards supporting technology and growth sectors.
“Furthermore, this approval will facilitate MDV’s role in assisting SMEs that are looking for small-scale financing of RM3 million to RM5 million that among others are undertaking projects or contracts in telecommunications, energy performance contracting and IT projects,” it said in a statement today.
Launched to allow MDV to continue financing companies under its technology mandate, the third fund is fully guaranteed by the government.
“To-date, the total drawdown of RM500 million demonstrates the government’s robust commitment to Malaysia’s development in the technology sector as well as its support of MDV’s ongoing commitment to financing demands from companies with bankable technology projects,” added MDV.
Originally published on www.theedgemarkets.com