Malaysia Debt Ventures aims lower non-performing financing this year
KUALA LUMPUR: Malaysia Debt Ventures (MDV) is vying to reduce its net non-performing financing to below 4% this year from 9% as at December last year.
Its gross non-performing financing, meanwhile, stood at 24% and MDV is looking to pare it down to 14% this year.
“We actively work with all our customers, we try to work out a programme or schedule for them to repay,” said CEO Nizam Mohamed Nadzri at a press conference here today.
He said this could include facilitating borrowers to source cash flow from other income or projects for repayment purposes.
Adding on, MDV chairman Lee Kah Choon said the fund will also strengthen its capability in analysing the viability of projects undertaken by potential investees.
Lee noted that unlike traditional financial institutions, MDV’s portfolio includes the riskier tech ventures.
MDV, a unit of Minister of Finance Incorporated, has disbursed RM11.7 billion in financing to 758 technology companies to-date since its establishment in 2002. This has resulted in the completion and delivery of 878 projects.
Source: The Sun Daily