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March 19, 2024 -Tuesday

 
  DRAWDOWN OF RM 230 MILLION

Thursday 20/09/2018



to provide funding to high-potential technology companies

KUALA LUMPUR, Sept 20 (Bernama) -- Malaysia Debt Ventures (MDV), a wholly owned subsidiary of the Minister of Finance Inc., had on 14 September 2018 issued a RM230 Million Islamic Medium Term Notes (“iMTN”) from its RM1 Billion Sukuk Facility (“Third Fund”).  The RM230 Million was issued on a bought deal basis with CIMB Investment Bank Berhad (RM130 Million) and Affin Hwang Investment Bank Berhad (RM100 Million) as the primary subscribers.  The proceeds from the issuance will be used to provide access to financing by SMEs for projects in the ICT, Biotechnology, Green Technology and Emerging Technology sectors in Malaysia.
 
The Third Fund succeeds MDV’s RM1.6 Billion fund from Japan Bank for International Cooperation (“JBIC”) (“First Fund”), which has been fully repaid, and RM1.5 Billion iMTN programme (“Second Fund”) which is being progressively paid and will be full settled by 2023.  The Third Fund was launched in August 2017 to enable MDV to continue financing companies that fall under its technology mandate, particularly newly emerging sectors like eGovernment systems, telecommunications infrastructure, renewable energy projects, photonics, cloud computing, education portals and eCommerce.  The Third Fund is fully guaranteed by the Government of Malaysia and approval of the first RM230 Million drawdown demonstrates the Government’s strong commitment to the advancement of the technology sector in Malaysia. This first drawdown of the Third Fund also reflects MDV ongoing commitment to ensure that it is able to serve financing demands from companies with bankable technology projects and continue to support our existing customers to implement their projects and support their growth aspirations.
 
Through this practice MDV has faithfully serviced all previous funding obligations under the First and Second Funds on a timely basis. From the RM3.1 Billion available from the first two funds, MDV has disbursed more than RM11.5 Billion in financing to more than 800 companies.

The Third Fund will help steer the nation towards a knowledge economy and provide affordable financing to the underserved sectors in Malaysia. It also serves as a catalyst for MDV to further extend its product offering to Venture Financing and support on-going Fintech initiatives in the market to broaden the financing ecosystem for high-value start-up and early stage companies in the technology sectors. 

Source : Malaysia Debt Ventures Berhad
 
FOR MORE INFORMATION, PLEASE CONTACT:
Name : Amelia Ong Abdullah
Senior Assistant Vice President, PR & Communications
Malaysia Debt Ventures Berhad
Tel : 03 – 2617 2841
Email : amelia@mdv.com.my
 
--BERNAMA

 
 
 

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