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MDV’s Ratings Reaffirmed, Highlighting Support for Malaysia’s Tech Sector

MDV's Ratings Reaffirmed, Highlighting Support for Malaysia's Tech Sector

KUALA LUMPUR, 18 September 2024 – RAM Ratings has reaffirmed Malaysia Debt Ventures Berhad’s (MDV) AA3 corporate credit rating and short-term rating of P1, with a stable outlook. These ratings also apply to MDV’s RM2.0 billion Conventional and Islamic Commercial Papers/Medium-Term Notes Programmes, established in 2022.

The reaffirmation of MDV’s ratings underscores its continued significance as a specialised financier in Malaysia’s technology sector, with continued strong support from the Government. MDV remains focused on serving high-growth small and medium enterprises (SMEs), playing a pivotal role in driving innovation and advancing the national digital agenda, particularly in sectors that are underserved by traditional financial institutions.

MDV’s Ratings Reaffirmed

MDV’s Chief Executive Officer, Rizal Fauzi, welcomed the reaffirmation, stating: “We are pleased with RAM’s reaffirmation of MDV’s ratings, which underscores the Government’s enduring confidence in MDV’s mandate. These ratings not only enhance our ability to secure external funding but also reinforce our position as a key technology financier, committed to nurturing innovation and technological advancement in Malaysia.”

Commenting on MDV’s funding capabilities, Rizal added, “The reaffirmation of our RM2.0 billion sukuk and bond programme strengthens our capacity to provide financing for companies in vital sectors such as Information and Communications Technology (ICT) and Green Technology. As Malaysia embarks on its energy transition, MDV is poised to play a greater role in supporting clean energy initiatives and renewable technologies. By focusing on sustainable financing, MDV is positioned to drive the nation’s energy objectives, in line with the vision of Ekonomi Madani, contributing to a more sustainable and innovation-driven future.”

Since MDV was first assigned corporate credit ratings in 2019 as part of its long-term strategy to achieve funding self-sufficiency without explicit reliance on the Government, the Company has remained committed to supporting Malaysia’s technology-driven SMEs and start-ups by addressing their funding needs.

“With the reaffirmed ratings, MDV is well-positioned to continue fulfilling its developmental mandate, supporting the growth and resilience of Malaysia’s technology sector,” Rizal concluded.