MDV makes RM200m payment for government guaranteed sukuk programme

PETALING JAYA: Malaysia Debt Venture Bhd (MDV), a wholly owned subsidiary of the Minister of Finance Inc. had on Sept 26, 2018 made payment of RM200 million of its RM1.5 billion government guaranteed sukuk programme.
This represents the company's third schedule payment, with a cumulative payment value of RM900 million.
Full payment is scheduled by 2023.
This is the second fund by MDV, with the first being a RM1.6 billion one from the Japanese Bank for International Cooperation via a G2G programme, that was successfully repaid in 2015.
In August 2017, MDV set-up its third fund of RM1 billion government guaranteed sukuk programme, of which RM230 Million has been issued to date.
The first two funds of RM3.1 billion allowed MDV to disburse more than RM11.5 billion in financing to more than 800 companies.
The third fund is expected to allow MDV to continue financing companies that fall under its technology mandate, particularly newly emerging sectors, and help steer the nation towards a knowledge economy and provide affordable financing to the underserved sectors in Malaysia.
It also serves as a catalyst for MDV to further extend its product offering to Venture Financing and support on-going Fintech initiatives in the market to broaden the financing ecosystem for high-value start-up and early stage companies in the technology sectors.
MDV has thus far serviced all past funding commitments on a timely basis and remains confident of continued timely payment of our funding obligations in accordance with the respective maturity of its Sukuk.