Malaysian govt unit to offer new financing to technopreneurs

Malaysia Debt Ventures Bhd plans to develop three innovative financing products for technology SMEs by year-end.

MDV, a wholly-owned unit of Minister of Finance Inc., said these facilities would be able to further support the SMEs in information and communication technology, biotechnology and green technology in its financial requirements and growth.

"Since its inception in 2002, MDV has approved loans amounting to RM6.29 billion to over 450 companies, of which approximately RM3.5 billion were given to the technology SMEs," it said.

Its said MDV was committed to support SME's development and growth by enabling them to achieve a competitive edge, leveraging on its extensive products and financing solutions.

"For this year, we are looking to developing their businesses and operations by launching three new funding facilities and we are certain many technopreneurs will benefit from it," he aid managing director/chief executive officer, Md Zubir Ansori Yahaya,.

He said among the benefits of these new products were its innovative and flexible financing structures, cost-effectiveness, immediate cash flow for better returns and a quick processing-to-disbursement turnaround time.

Md Zubir said this year, MDV has allocated a total of RM970 million to support the three sectors -- ICT, biotechnology and green technology.

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