MDV’S AA3/STABLE/P1 RATINGS REAFFIRMED, REFLECTING ITS CONTINUED STRATEGIC ROLE IN SUPPORTING MALAYSIA’S TECHNOLOGY SECTOR
KUALA LUMPUR, 13 SEPTEMBER 2024: RAM Ratings has reaffirmed Malaysia Debt Ventures Berhad’s (MDV) AA3 corporate credit rating and short-term rating of P1, with a stable outlook. These ratings also apply to MDV’s RM2.0 billion Conventional and Islamic Commercial Papers/Medium-Term Notes Programmes, established in 2022.
The reaffirmation of MDV’s ratings underscores its continued significance as a specialised financier in Malaysia’s technology sector, with continued strong support from the Government. MDV remains focused on serving high-growth small and medium enterprises (SMEs), playing a pivotal role in driving innovation and advancing the national digital agenda, particularly in sectors that are underserved by traditional financial institutions.
MDV’s Chief Executive Officer, Rizal Fauzi, welcomed the reaffirmation, stating: “We are pleased with RAM’s reaffirmation of MDV’s ratings, which underscores the Government’s enduring confidence in MDV’s mandate. These ratings not only enhance our ability to secure external funding but also reinforce our position as a key technology financier, committed to nurturing innovation and technological advancement in Malaysia.”
Commenting on MDV’s funding capabilities, Rizal added, “The reaffirmation of our RM2.0 billion sukuk and bond programme strengthens our capacity to provide financing for companies in vital sectors such as Information and Communications Technology (ICT) and Green Technology. As Malaysia embarks on its energy transition, MDV is poised to play a greater role in supporting clean energy initiatives and renewable technologies. By focusing on sustainable financing, MDV is positioned to drive the nation’s energy objectives, in line with the vision of Ekonomi Madani, contributing to a more sustainable and innovation-driven future.”
Since MDV was first assigned corporate credit ratings in 2019 as part of its long-term strategy to achieve funding self-sufficiency without explicit reliance on the Government, the Company has remained committed to supporting Malaysia’s technology-driven SMEs and start-ups by addressing their funding needs.
“With the reaffirmed ratings, MDV is well-positioned to continue fulfilling its developmental mandate, supporting the growth and resilience of Malaysia’s technology sector,” Rizal concluded.
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About MDV – The Nation’s Technology Financier
Malaysia Debt Ventures Berhad (MDV) was established in 2002 as a subsidiary of the Minister of Finance (Incorporated) [MOF (Inc)] with the objective of providing flexible and innovative financing facilities to develop the ICT sector that had been identified and prioritised by the Government as the catalyst for the nation’s growth. Since its establishment more than two decades ago, as the tech ecosystem progresses and expands, MDV continues to evolve and has grown from strength to strength in its role to support, nurture and guide Malaysian technology companies and start-ups in achieving growth. MDV’s specialised funding had ensured the success of many high potential technology companies and projects in the areas of ICT, Green Technology, Biotechnology, Strategic and Emerging Technology, and Start-Ups, which in turn, contributed to the diversification and generation of new sources of high-value economic growth for the country. Throughout the years, MDV has charted many firsts, including being the pioneering, and largest, Venture Debt/Financing solutions provider in Malaysia. With the rapid rate of technological and digital advance, and Malaysia’s continued push towards becoming an advanced nation, MDV will continue to play a significant role in ensuring a thriving tech and start-up ecosystem in Malaysia while achieving its vision of becoming the Nation’s Technology Financier.
For more information on MDV, visit http://www.mdv.com.my/
For media enquiries, please contact:
Siti Ezrina Alias
Head, PR & Communications
Malaysia Debt Ventures Berhad
+6011 3306 5216