MDV AIMS TO BOOST CONTRIBUTIONS TO HELP REVIVE ECONOMY, CREATE JOBS

KUALA LUMPUR, Nov 17 -- Malaysia Debt Ventures Bhd (MDV) is exploring further initiatives to answer Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz's call for government-linked companies (GLCs) to increase contributions designed to revive the economy and open up job opportunities.

 As a dedicated technology financier, MDV is committed to continue providing funding for the growth and development of the technology sector, which is crucial for the post COVID-19 economic recovery, said its chairman Khairul Azwan Harun.

“In this regard, we are pleased to share that the Finance Ministry has given its approval for MDV to raise our fourth fund via the issuance of a sukuk programme based on MDV’s standalone corporate credit rating, so as to ensure that viable technology companies and projects will continue to have adequate access to funding, amid the highly challenging economic climate,” he said in a statement today.

MDV, a subsidiary of Minister of Finance (Incorporated), is actively playing its part to support recovery in the technology sector as continued effort is required to ensure that the observed momentum of recovery does not stall.

In the statement, the GLC said it has moved quickly to provide relief for existing customers and continues to provide unimpeded access to financing for technology companies, where it looks to significantly increase financing facility approvals in 2021.

MDV has also accelerated approvals under the Technology Startup Financing Relief Facility (TSFRF) to ensure that local startups are also able to participate in the broad-based recovery currently observed as well as build resilience against any fall-out due to the current resurgence in COVID-19 cases.

“We have also taken these initiatives to support the effective policy measures by the government and contribute to sustained public and private sector expenditures,” it said.

Khairul Azwan said that MDV also continues to implement internal measures to ensure speedy payments to its vendors and suppliers and continues to progress with its planned investment into its digital infrastructure. 

-- BERNAMA