MDV gives out RM300mil ICT loans

Category: MDV in the News Post Date: July 31, 2003

MDV gives out RM300mil ICT loans

Malaysia Debt Ventures (MDV) has disbursed a total of RM300mil of its RM465mil approved loan applications to 24 Multimedia Super Corridor (MSC) status and non-MSC status companies.

Its chief executive officer and managing director Jiro Suzuki said MDV was targeting to disburse RM800mil by the end of its fiscal year in March 2004.

MDV, a debt financier with a RM1.6bil loan facility for information and communications technology (ICT) development, now has RM2bil worth of loan applications in the pipeline.

Suzuki told reporters this at the Asia Pacific-USA Capital Conference 2003 hosted by International Capital Group and sponsored by MDV, Malaysian Venture Capital Management Bhd, Malaysian Industrial Development Au- thority and Photonics Venture Capital Sdn Bhd.

At present, it is in talks to approve a loan for an overseas biotech company which intends to set up a factory here to manufacture vaccines.

He said two other ICT-based companies in Malacca had fully repaid their RM2mil loan to MDV.

Suzuki said the conference would provide a platform for Malaysian firms to collaborate with American companies to tap the lucrative US market.

The collaboration in return will open up a huge market for America in the Asia Pacific through Malaysia.

Photonics Venture investment director Colin Day, meanwhile, said the conference would provide Malaysian companies with a link to the American market.

– Bernama