KUALA LUMPUR: In the wake of the strong response to its intellectual property financing scheme, Malaysia Debt Ventures Bhd (MDV) expects all of the RM200mil fund to be disbursed by end-2014.
Amiruddin Kemat, vice-president of corporate planning and communication division, said over 20 companies in the biotechnology, creative, as well as information, communications and technology industries had applied to the scheme before its official launch yesterday with three of them having been approved.
“Some of the applicants being reviewed are in the process of registering their intellectual property rights (IPRs), or having their IPRs being valued by the relevant authority,” he told reporters after the launch of the scheme here yesterday. The scheme was part of the Government’s Budget 2013 announcement that allowed the utilisation of IPR as the collateral for funding of technology companies.
MDV chairman Tan Sri Zarinah Anwar said the scheme would allow companies to leverage on their IPRs to secure financing of up to RM10mil, or 80% of the value of their IPR, whichever is lower, for a five-year tenure. The scheme will also provide an annual interest rate rebate of 2% and a 50% financing principal guarantee from the Government.
The three successful applicants KRU Malaysia Sdn Bhd, Datamicron Sdn Bhd and Info Connect Sdn Bhd had been granted a total of RM18.7mil for their IPRs in songs, business intelligence solutions and insurance solutions respectively. – Bernama