From left: Mr. Peter Chong, Head DCM of RHB Investment Bank Bhd; Dato’ Seri Nazir Tun Razak, Group CEO of CIMB Group; Datuk Kong Cho Ha, Deputy Finance Minister; Datuk Dr Abdul Samad Alias, Chairman of MDV; Encik Md Zubir Ansori Yahaya, Managing Director & CEO of MDV; Mr. Adrian Khor, VP, Finance & Admin of MDV; and Dato’ Wan Ismail Wan Yusoh, GM of Strategic Relations Bank Islam Malaysia Bhd during the exchange of documents
KUALA LUMPUR, 21 OCTOBER 2008 - Malaysia Debt Ventures Berhad (MDV), a wholly owned subsidiary of the Minister of Finance Inc, has launched its RM1.5 billion (US$426 million) Second Fund for technopreneurs.
MDV managing director and chief executive officer, Md Zubir Ansori Yahaya said that with the second fund, MDV would be able to provide information communication technology (ICT) and biotechnology customers with an alternative to its existing conventional financing—Shariah-compliant financing programme for their growth and development.
In addition, Zubir added that with the second fund, MDV would create new and relevant Shariah-compliant products and services, expanding MDV customers’ financing options to meet their growth requirements. “And this is in line with the government’s effort to move Malaysia up the value chain and the mandate given to us as a catalyst of growth,” he said.
MDV was set up in 2002 to help finance companies in fast-developing sectors such as ICT. This year, MDV has also expanded its portfolio by venturing into the biotechnology sector by setting up the Biotechnology Financing Programme.
Domestically sourced funds
Zubir added that MDV’s second fund would be domestically sourced and raised via a RM1.5 billion Islamic Medium Term Notes (Islamic MTN) Programme. CIMB Investment Bank is the lead arranger and Shariah adviser, and together with Bank Islam Malaysia and RHB Investment Bank, are the joint lead managers.
Zubir said the launch is a significant milestone for MDV as it reflects the Government’s endorsement and confidence in the way MDV has managed the first fund. “The Second Fund launch would also enhance MDV’s revenue channels as well as meet customer demand for Islamic facilities.”
“Increasing awareness of the socio-economic benefits of Islamic financing in the market has encouraged us to proceed with the launch of this Islamic fund. We know that it will be embraced by technopreneurs in the ICT, biotechnology and other high growth sectors as an appropriate alternative to conventional financing,” Zubir said.
