CEO: MDV plays key role in tech financing


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PETALING JAYA: Malaysia Debt Ventures Bhd (MDV) plays a key role in the local technology financing ecosystem in advancing the Government’s initiatives to promote a technology-based economy that operates in a sustainable manner, said its chief executive officer Nizam Mohamed Nadzri.

He said since its inception, MDV has disbursed approximately RM11.5bil in financing from its three funds to almost 750 technology and technology-based companies in the country.

“MDV serves a key role in the Malaysian technology financing ecosystem to advance the government’s initiatives in promoting a technology based economy by providing term and revolving facilities to technology companies.

“Notwithstanding MDV’s developmental role, we operate in a sustainable manner, and are pleased to inform that MDV has recorded continued and uninterrupted profits for the last 8 financial years up to Dec 31, 2017 with profits in aggregate amounting to RM130.5mil,” he said in a statement to The Star. According to him, MDV has also paid dividends to the Government for six consecutive financial years up to Dec 31, 2017 amounting to RM9.7mil.”

Nizam was responding to a recent The Star article on a likely shake-up at some government funds that were set up to venture into businesses related to the new economy following their below par performance,

He said MDV has so far serviced all past funding commitments on a timely basis and remains confident of continued timely payment of its funding obligations in accordance to the respective agreed repayment schedule, from its own resources.

 

 

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