Malaysia Techonology Development Corporation (MTDC) chief executive officer Datuk Norhalim Yunus (right) who said there is still over RM70mil in commercial funds to be distributed this year.
BANGI: Khazanah Nasional Bhd subsidiary, Malaysian Technology Development Corporation (MTDC), is targeting to approve RM170mil in loans to technology-based companies this year.
MTDC chief executive officer Datuk Norhalim Yunus said the financing would be given out through its six funds.
These are Commercialisation of Research and Development Fund (RM40mil), Technology Acquisition Fund (RM10mil), Business Start-up Fund (RM15mil), Business Growth Fund (RM15mil), Bumiputera Expansion Fund (RM75mil) and Halal Technology Development Fund (RM15mil).
"The funds would be allocated according to the size of the projects, starting from a minimum of RM500,000 to a maximum of RM15mil," he told the media after speaking at the MTDC Road 2 Funding programme here today.
He said the loans would be disbursed through a combination of grants and convertible promissory notes.
Norhalim said MTDC planned to disburse the RM170mil funds within two years, according to the type of projects carried out by the companies.
"The funds would be disbursed in stages based on the progress of the projects, and would not be given out if they did not achieve the target that had been set," he said.
He added that most of the applicants for the loans were companies involved in the green technology industry, such as solar technology, energy efficiency systems, biotechnology and electronics and electrical, among others.
Norhalim said the recently introduced Halal Technology Development Fund would also see more active involvement by halal product manufacturers that export their products.
"The Department of Islamic Development Malaysia's halal certification is recognised by 50 halal agencies all over the world, and this fund would encourage more companies to expand their business overseas," he said.
He added that last year, MTDC had disbursed RM145mil in loans to 71 technology-based companies - Bernama.
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