MDV to slash its NPF to less than 4pc from 9pc

MDV chairman Datuk Seri Lee Kah Choon said the body plans to slash its net non-performing financing (NPF) to less than four per cent this year from the current nine per cent. NSTP photo by AZIAH AZMEE

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Category: MDV in the News, News Post Date: January 24, 2019

MDV to slash its NPF to less than 4pc from 9pc

MDV chairman Datuk Seri Lee Kah Choon said the body plans to slash its net non-performing financing (NPF) to less than four per cent this year from the current nine per cent. NSTP photo by AZIAH AZMEE
MDV chairman Datuk Seri Lee Kah Choon said the body plans to slash its net non-performing financing (NPF) to less than four per cent this year from the current nine per cent. NSTP photo by AZIAH AZMEE

KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV), a unit of the Minister of Finance Inc, is planning to reduce its net non-performing financing (NPF) to less than four per cent this year from nine per cent recorded as at Dec 31 last year.

MDV chief executive officer Nizam Mohamed Nadzri said the technology financier company also planned to lower its gross non-performing financing to 14 per cent this year from 24 per cent last year.

“(We are going to achieve that through the) repayment and recovery of all the outstanding facilities that we have so we are actively work out with our customers.

“We’ll try to facilitate where possible either they will source cash flows from other projects or incomes to repay us,” he told reporters after a briefing on the company’s 2018 performance here today.

Meanwhile, chairman Datuk Seri Lee Kah Choon said MDV is currently looking at a 5-year business strategy divided into three core areas namely Transformation, Strengthen and Regionalisation, aiming at enhancing the company’s platform and infrastructure whilst expanding its regional and international footprint.

He said the transformation programme is necessary to ensure MDV culture of supporting technology startups and the sectors they represented.

MDV has commenced the preparation of the Fourth Fund and the exploration of alternate funding as well as the cultivation of the venture debt programme and expand it via its second tranche, he added.

“MDV’s transformation will also see the initiation and development of regional and international relationships together with the operate equity crowdfunding (ECF)/peer-to-peer (P2P) participation.

“The next two years will witness the strengthening of our business and continued growth of our financing assets.

“In a span of five years from 2020, MDV hopes to witness this expansion and at the same time supporting investees geographic expansion,” he explained.

To date, MDV has disbursed RM11.7 billion in financing to 758 technology companies, enabling them to complete and deliver about 878 projects in these various technology areas.

On top of that, from 2002 to 2018, in a nation building perspective, MDV has helped build 5,900 3G/4G towers, contributed in generating RM21 billion revenue and 25,000 employment benefitted.

 

Source: New Straits Times