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M’sia Debt Ventures sanctions RM6.29 bil loans
MELAKA (Aug 20, 2012): Malaysia Debt Ventures Berhad, a wholly-owned subsidiary of the Finance Ministry Incorporated, has disbursed loans totalling RM6.29 billion to over 450 companies since its inception in 2002.
Managing Director Md Zubir Ansori Yahaya said RM970 million has been allocated this year to finance and coordinate information and communications technology sector development, biotechnology and green technology.
“We expect 50 per cent of this year’s allocation to be disbursed for financing projects in the green technology sector.
“We see bright prospects for lucrative returns in the green technology sector. This is the main factor in our assessment to channel 50 per cent of allocation to the fast-developing sector,” Md Zubir, who is also the company’s chief executive officer, told Bernama.
He said companies are eligible for contract financing from RM500,000 to RM120 million. Malaysia Debt Ventures provides Islamic financing with flexible repayment terms for up to 15 years, besides speedy approval, he said.
Md Zubir said Malaysia Debt Ventures has applied to the government to participate in the Green Technology Financing Scheme to encourage more companies to be engaged in the sector.
“By participating in the sector, companies, which have obtained loan financing from Malaysia Debt Ventures, can enjoy two per cent government subsidy from the overall interest and profit.
“Currently, our company offers the market rate between six and seven per cent. However, the rate can be lowered if we succeed in joining the Green Technology Financing Scheme,” he added. – Bernama