MDV makes RM200m payment for second fund

KUALA LUMPUR: Malaysia Debt Venture Bhd (MDV), a whollyowned subsidiary of the Finance Ministry, made a RM200 million payment of its RM1.5 billion government-guaranteed sukuk programme on September 26 .

In a statement yesterday, MDV said its second fund had been fully drawn down and it had successfully made timely payments on all commitments due to date. The full payment is scheduled for 2023.

“The current RM200 million payment marked the third scheduled payment with a cumulative payment value of RM900 million. In August last year, MDV set-up its third fund of RM1 billion government-guaranteed sukuk programme, of which RM230 million has been issued to date,” it said.

Since its inception in 2002, MDV has raised RM1.6 billion for its first fund from the Japanese Bank for International Cooperation via a government-to-government programme and successfully repaid all its commitments in 2015. Of the RM3.1 billion available from the first two funds, it disbursed RM11.5 billion in financing to more than 800 companies.

“The third fund will enable the company to continue financing companies that fall under its technology mandate, particularly in newly-emerging sectors.

“This reflects our ongoing commitment to ensure that we are able to serve the financing demands from companies with bankable technology projects and continue to support our existing customers and their growth aspirations.”

MDV said it had serviced all past funding commitments on a timely basis and remained confident of continued timely payment of its funding obligations in accordance with the respective maturity of its sukuk.

The current RM200 million payment marked the third scheduled payment with a cumulative payment value of RM900 million.