KUALA LUMPUR, Dec 2 (Bernama) -- Following the recent media release by RAM Ratings on Malaysia Debt Ventures Berhad’s (MDV) proposed RM2.0 billion sukuk/bond programme, MDV is pleased to note that the proposed sukuk/bond programme has been assigned AA3/Stable/P1 ratings by the agency.

RAM Ratings also announced that it had reaffirmed MDV’s corporate credit ratings of AA3/Stable/P1.

The corporate credit ratings were initially assigned by the agency in 2019 and forms part of MDV’s long-term plan to be self-sustainable, financially independent, and less reliant on direct government funding support.

We note that the recently announced ratings reflect MDV’s highly strategic national role in promoting the growth of Malaysia’s technology sector- particularly information and communications technology (ICT)- as well as strong government support in view of the Company’s strategic developmental role.

MDV’s Chairman, Khairul Azwan Harun said that the new RM2.0 billion sukuk/bond programme is a significant milestone for MDV as it is the Company’s maiden issuance based on its own corporate credit ratings without a government guarantee.

The funds raised from the sukuk/bond programme will allow MDV to continue to finance technology-based companies that are within MDV’s financing mandate including areas that have been prioritised by the government such as digitalisation, connectivity, and green technology.

Over the life of this new fund, MDV is estimated to provide additional financing of up to RM6.6 billion to between 330 to 660 high-impact technology companies.

Azwan reiterated that with the new fund, MDV is well poised to support the government’s technology agenda and to help realise the aspirations of tech entrepreneurs in the country.

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/

*Please click here for photo of MDV's Chairman, Encik Khairul Azwan HarunKhairul Azwan Harun, Chairman of MDV 

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: 019-2309127
Email: amelia@mdv.com.my

--BERNAMA