KUALA LUMPUR: Malaysia Debt Venture Bhd (MDV), a unit of the Minister of Finance Inc. has repaid RM200mil of its RM1.5bil government guaranteed sukuk programme.
MDV said on Tuesday the sukuk programme, or second fund of RM1.5bil had been fully drawn down and it has made timely payments on all commitments due to date.
“The current RM200mil payment would mark the third scheduled payment with a cumulative payment value of RM900mil. The full payment of the second fund is scheduled by 2023,” it said.
Since MDV was set up in 2002, it raised its first fund of RM1.6bil from the Japanese Bank for International Cooperation via a G2G programme. It repaid all of its commitments in 2015.
In August 2017, MDV set-up its third fund of RM1bil government guaranteed sukuk programme of which RM230mil has been issued to date.
“From the RM3.1billion available from the first two funds, MDV has disbursed more than RM11.5bil in financing to more than 800 companies.
“The third fund would further enable MDV to continue financing companies that fall under its technology mandate, particularly newly emerging sectors,” it said.
MDV pointed out this was its commitment to ensure that it is able to serve financing demands from companies with bankable technology projects and continue to support existing customers to implement their projects and support their growth aspirations.
As for the third fund, it will help steer the nation towards a knowledge economy and provide affordable financing to the underserved sectors in Malaysia.
It also serves as a catalyst for MDV to further extend its product offering to venture financing and support on-going fintech initiatives in the market to broaden the financing ecosystem for high-value start-up and early stage companies in the technology sectors.
“MDV has thus far serviced all past funding commitments on a timely basis and remains confident of continued timely payment of our funding obligations in accordance with the respective maturity of its Sukuk.
“MDV has fulfilled and will continue to fulfill its mandate in providing financing facilities to technology companies,” it said.
Already a subscriber? Log in.
Limited time offer:
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!