KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV), a technology financier, has expanded its core funding business to include growth sectors such as oil and gas, aviation and aerospace and nanotechnology.
Deputy Finance Minister Datuk Ahmad Maslan said the new corporate strategy would enable MDV to become the leading technology financier in the country.
He hoped that MDV would expand its financing solutions to include finance packages for technology mergers and acquisition.
“This will help more small and medium enterprises (SMEs) in Malaysia’s technology sectors to leapfrog and become big, competitive and progressive,” he said, during the launch of the new corporate strategy, here, yesterday.
The funding portfolio has been expanded to include eight sectors.
They are nanotechnology, advanced materials, robotics and artificial intelligence, electrical and electronics, aviation and aerospace, maintenance repair and overhaul, oil and gas and transportation.
SMEs would stand to benefit from the RM200 million allocation from MDV.
According to chairman Tan Sri Zarinah Anwar, MDV has disbursed over RM8.8 billion in financing to more than 700 technology projects undertaken by SMEs since it was launched 12 years ago.
In conjunction with the launch, MDV signed collaboration agreements with Bumiputera Agenda Steering Unit (Teraju) for the Program Skim Usahawan Permulaan Bumiputera (Superb Programme) and with Malaysian Global Innovation and Creativity Centre (MaGIC) for the Cerebro Project.
Under the deal, 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 agreement.