KUALA LUMPUR, June 9 (Bernama) -- Malaysia Debt Ventures Berhad (MDV), in a statement today, said that it will implement the third phase of moratorium and restructuring of payments for its eligible customers to alleviate the challenges that they are facing due to the implementation of the full nationwide Movement Control Order 3.0 (MCO 3.0) and the ongoing COVID-19 pandemic.

The implementation of the relief measures is in keeping with the Government’s recent announcement of the RM40.00 billion Program Strategik Memperkasa Rakyat dan Ekonomi Tambahan or PEMERKASA+ by YAB Prime Minister.

Commenting on the Government’s latest initiative, MDV’s Chairman, Khairul Azwan Harun said that MDV acknowledges the Government’s continued efforts to support the livelihood of the rakyat and the survival of the business community particularly the micro, small and medium enterprises (MSMEs) as evident from the more than RM380.00 billion in aid and stimulus measures that had been introduced since the start of the pandemic, including PEMERKASA+.

“Under PEMERKASA+, the Government continues to provide incentives that would boost the growth of the nation’s digital economy such as the Jaringan Prihatin and eBelia programmes. Another incentive, the Geran Khas Prihatin 3.0 (GKP 3.0) for instance, would ensure business continuity and sustainability for eligible MSMEs who were severely affected by the adverse economic impact, which would subsequently provide them with the means to digitilise their operations by investing in relevant technologies,” said Azwan.

He added that these developments would lead to the creation of a more digitally inclusive society and businesses, which is crucial particularly in the nation’s ongoing economic recovery process. On MDV’s part, the Company will further support the initiatives by the Government and future growth of the digital economy in line with the Finance Minister’s directive.

“As a technology financier, MDV is proactively playing our part to support corresponding recovery in the technology sector by continuing to implement relief measures for our affected customers during this challenging time. As such, we will implement the third phase of moratorium and restructuring of payments for our eligible customers as required,” he explained.

This is in addition to other measures taken by MDV to support businesses, including via its dedicated relief programme, the Liquidity Financing for Technology Start-Ups Facility or LIFTS (previously known as TSFRF), in line with the Government’s call for the private sector to continue to spur economic activities in the Country. MDV has so far approved financing amount totalling RM67.42 million under the LIFTS programme with RM21.26 million already having been disbursed to 26 companies in various technology sectors and is planning to further increase its approvals and disbursements in view of the ongoing crisis.

About MDV – The Nation’s Technology Financier

Malaysia Debt Ventures Berhad (MDV) is a wholly-owned subsidiary of the Minister of Finance Incorporated established in 2002 with the objective of providing flexible and innovative financing to develop high-impact and technology-driven sectors of the economy, identified and prioritised by the Government as future engines of growth. MDV’s strategic role in the technology financing ecosystem in Malaysia is defined by its approach to funding which is different from other financial institutions. MDV’s niche is helping to fund young technology-based companies or start-ups that are unable to secure financing from commercial financial institutions due to their novel business model, lack of proven operating track record and lack of collaterals. With the rapid rate of technological and digital advance, and Malaysia’s continued push towards becoming an advanced nation, MDV will continue to have a significant role to play particularly in financing emerging technology areas and in achieving its vision of becoming the Nation’s Technology Financier.

For more information on MDV, visit http://www.mdv.com.my/

SOURCE: Malaysia Debt Ventures Berhad (MDV) 

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Amelia Ong Abdullah
Senior Assistant Vice President, PR & Communications
Malaysia Debt Ventures Berhad
Tel: 019-2309127
Email: amelia@mdv.com.my

--BERNAMA