KUALA LUMPUR, Dec 18 (Bernama) — Malaysia Debt Ventures Berhad (MDV) today officially launched its new corporate strategy to expand to its financing portfolio to other high growth sectors. The Launch was officiated by the Deputy Finance Minister I, YB Datuk Ahmad Maslan.
The Launch marks MDV’s new direction to support new growth areas and broaden its current core funding business of Information, Communications and Technology (ICT), Biotechnology, Green Technology. Growth sectors targeted under its new corporate strategy comprise Nanotechnology, Advanced Materials, Robotics & Artificial Intelligence, Electrical & Electronics, Aviation & Aerospace, Maintenance Repair & Overhaul (“MRO”), Oil & Gas and Transportation.
MDV has allocated RM200 million in financing to support these new sectors.
Tan Sri Zarinah Anwar, Chairman of MDV in her welcoming speech highlighted that in its 12 years of operation, MDV has disbursed over RM8.8 billion in financing to more than 700 technology projects undertaken by SMEs.
“We see significant opportunities for SMEs in these high growth areas that will enable MDV to expand our scope of financing to facilitate the objectives of enhancing value of the various industries in these sectors and creating employment opportunities,” Tan Sri Zarinah said.
“MDV is pleased to be able to play a role in enabling the optimisation of opportunities offered by these various initiatives to facilitate the achievement of Malaysia’s vision of climbing up the value chain to increase the country’s global competitiveness and to become a high-income, developed nation.”
“We hope that MDV’s role in this regard will contribute towards laying the foundation for the development of robust high growth sectors that will drive long-term economic growth,” she added further.
In conjunction with the Launch of the new corporate strategy, MDV has entered into a collaboration agreement via the Exchange of Agreement with Unit Peraju Agenda Bumiputra (TERAJU) for the Program Skim Usahawan Permulaan Bumiputra or mostly known as SUPERB Programme and with Malaysian Global Innovation and Creativity Centre (MaGIC) for the Cerebro Project.
Under the SUPERB programme, MDV will play its role as a panel member for the selection of recipients through pitching sessions, as well as providing coaching and mentoring to selected recipients.
Under the Collaboration Agreement, TERAJU will allocate RM500,000 as a grant for each winner of the SUPERB pitching session. MDV will manage the disbursement of the grant in accordance with the Collaboration Agreement.
MDV also entered a collaboration agreement with MAGIC in relation to the investment of USD 3 million in MaGIC’s Cerebro project.
The Cerebro Project will be managed by 500 Start-ups, a world-class venture capitalist who will be investing in top start-ups globally and within Southeast Asia. The total funding for the project amounts to USD 10 million, jointly invested by MAVCAP, Kumpulan Modal Perdana and MDV.
The exchange of agreements was witnessed by YB Datuk Ahmad Maslan and MDV’s Chairman, Tan Sri Zarinah Anwar.