Business

Thursday August 9, 2012

MDV sanctions RM6.3bil loans since 2002


MELAKA: Malaysia Debt Ventures Bhd (MDV), a wholly-owned subsidiary of the Finance Ministry Inc, has disbursed loans totalling RM6.29bil to over 450 companies since its inception in 2002.

Managing director Zubir Ansori Yahaya said RM970mil has been allocated this year to finance and coordinate information and communications technology sector development, biotechnology and green technology.

“We expect 50% of this year’s allocation to be disbursed for financing projects in the green technology sector.

<B>Zubir:</B> ‘We expect 50% of this year’s allocation to be disbursed for financing projects in the green sector’. Zubir: ‘We expect 50% of this year’s allocation to be disbursed for financing projects in the green sector’.

“We see bright prospects for lucrative returns in the green technology sector. This is the main factor in our assessment to channel 50% of allocation to the fast-developing sector,” Zubir, who is also the company’s chief executive officer, told Bernama.

He said companies are eligible for contract financing from RM500,000 to RM120mil.

Malaysia Debt Ventures provides Islamic financing with flexible repayment terms for up to 15 years, besides speedy approval, he said.

Zubir said Malaysia Debt Ventures has applied to the government to participate in the Green Technology Financing Scheme to encourage more companies to be engaged in the sector.

“By participating in the sector, companies, which have obtained loan financing from Malaysia Debt Ventures, can enjoy two per cent government subsidy from the overall interest and profit.

“Currently, our company offers the market rate between six and seven per cent.

“However, the rate can be lowered if we succeed in joining the Green Technology Financing Scheme,” he added. — Bernama

  • E-mail this story
  • Print this story
  • Bookmark and Share