KUALA LUMPUR, June 4 (Bernama) — Malaysia Debt Ventures Bhd (MDV) is allocating up to RM500 million in loan facilities for the small and medium enterprises (SMEs) under the sectoral development following a memorandum of understanding (MoU) inked on Wednesday.
The three-year MoU entered into with SME Corp Malaysia was aimed at enhancing the development and growth of high technology sectors in the country, said MDV in a statement.
The loan allocation is particularly for high technology sectors involved in solid-state lighting/light-emitting diodes, aerospace, medical devices industry and maintenance, repair and overhaul.
Besides the loan facilities, the MoU also covers collaboration through consultancy and advisory services, infrastructure for programmes, exchange of information and other joint activities to further enhance the development and growth of the technology entrepreneurs.
Under the MoU, SME Corp has also agreed to provide MDV access to its state offices as well as the One Referral Centre (ORC), which will enable MDV to be more accessible to the SMEs by providing financing advisory and solutions.
MDV Managing Director and Chief Executive Officer Datuk Md Zubir Ansori Yahaya said the collaboration effort with SME Corp was timely in advancing the capabilities of the SMEs in the country, particularly in the high technology sectors.
In order to help the SMEs in this sector to move forward, MDV as the nation’s technology financier would like to further efforts in facilitating the SMEs in terms of their financial capital needs, as well as advisory services to ensure continuous positive growth and long-term sustainability of these companies.
“With the current technology landscape, MDV’s financing goes across all technology sectors horizontally,” he said.