Malaysia Debt Ventures Berhad (MDV) today signed a Memorandum of Understanding (MoU) with Small And Medium Enterprises Corporation Malaysia (SME Corp) to step up efforts in the development of Malaysian technology entrepreneurs in strategic business sectors to boost the growth of SMEs in the country. The MOU Exchange event was witnessed by YAB Dato’ Sri Najib Tun Abdul Razak, Prime Minister of Malaysia at Kuala Lumpur Convention Centre in conjunction with SMIDEX 2014.
Through the MoU, MDV will provide loan facilities of up to RM500 million allocation for SMEs under Sectoral Development particularly in the high technology sectors of Solid-State Lighting/ Light-Emitting Diodes (SSL/LED), aerospace, medical devices industry and Maintenance, Repair and Overhaul (MRO).
Datuk Md. Zubir Ansori Yahaya, Managing Director and Chief Executive Officer of MDV said that the collaboration effort with SME Corp is timely in advancing the capabilities of the SMEs in the country, particularly in the high technology sector.
“Our partnership with SME Corp is a well-timed move indeed, since the high technology sector in Malaysia is experiencing an accelerating growth,” said Datuk Md. Zubir.
“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 added further.
Besides 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. Through the MoU, SME Corp had also agreed to provide access to MDV 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.
The MoU between MDV and SME Corp will be implemented over three years.
MDV plays developmental roles in assisting technopreneurs to scale up commercially for market access, increase probability to penetrate and meeting up market potential demands, as well as provide funding that will trigger potential commercialization of the products. To date MDV, MDV has disbursed over RM7 billion worth of financing to more 600 technology projects.
For information and queries, please contact:
Ms Zuraida Abdul Malek
PR & Communications Manager
Malaysia Debt Ventures Berhad
Tel No.: 03-2617 2841
HP No.: 013-621 1105
Note to Editor:
Malaysia Debt Ventures Berhad (MDV) is the Nation’s leading technology financier that provides innovative and flexible financing solutions, specialised funding programs, industry expertise, as well as advisory services to technology entrepreneurs. Incorporated on 23 April 2002 as a wholly-owned subsidiary of the Minister of Finance, Inc., MDV has been entrusted to provide financing for projects in all technology sectors including ICT, Biotechnology, Green Technology and other emerging technologies at the point of commercialisation. With a fund size of RM4.1 billion, MDV plays developmental roles in assisting technopreneurs to scale up commercially for market access, increase probability to penetrate and meeting up market potential demands, as well as provide funding that will trigger potential commercialization of the products. To date, MDV has disbursed over RM7 billion worth of financing to over 600 technology projects.