KUALA LUMPUR, 4 SEPTEMBER 2023: RAM Ratings has reaffirmed Malaysia Debt Ventures Berhad’s (MDV) AA3 corporate credit rating and a short-term rating of P1 with a stable outlook. The ratings also extend to MDV’s RM2.0 billion Conventional and Islamic Commercial Papers/Medium-Term Notes Programmes established in 2022.
The ratings not only emphasise MDV’s solid foundation backed by unwavering government support but also its strategic role as Malaysia’s key technology financier. The achievement also underscores MDV’s contribution in boosting the national economy, mirroring Malaysia’s goal to nurture its tech sector, especially the small and Medium Enterprises (SMEs).
MDV’s Chief Executive Officer, Nizam Mohamed Nadzri said that MDV is pleased with this result as the ratings highlight MDV’s unyielding dedication to its mandate and the continued confidence placed in the Company by its stakeholders and the Government. Additionally, the AA3 rating boosts MDV’s ability to tap external funding, further strengthening its crucial role in accelerating growth and development in the technology sector.
“We are particularly pleased with the reaffirmation of our RM2.0 billion sukuk/bond programme, given that the funds raised from this programme are pertinent to MDV’s ongoing efforts in supporting high-potential technology companies, such as those in the ICT and Communications sectors. With Malaysia standing on the precipice of a digital and energy transformation, a thriving and well-supported technology sector is vital in achieving the objectives of the Ekonomi Madani, and MDV is committed to continue playing a pivotal role in this transformation,” Nizam said.
Since MDV was first assigned its corporate credit ratings in 2019 as part of its long-term strategy to achieve financial self-sufficiency and reduce reliance on direct government financial support, MDV has continued to solidify its commitment to assisting underserved technology-based companies and start-ups to narrow the prevailing funding gap.
“As a dedicated technology financier, MDV’s renewed ratings will serve as a foundation upon which the Company will continue to foster growth, innovation, and technology-led advancements for Malaysia,” Nizam concluded.