RAM Ratings, the leading credit rating agency, has reaffirmed Malaysia Debt Ventures Berhad’s (MDV) corporate credit rating at AA3 with a short-term rating of P1, signaling a stable outlook for the technology financier. These ratings also extend to MDV’s RM2.0 billion Conventional and Islamic Commercial Papers/Medium-Term Notes Programmes, which were established in 2022.
The reaffirmation of these ratings underscores MDV’s strong foundation, supported by unwavering government backing, and its strategic role as a key technology financier in Malaysia. It also highlights MDV’s significant contribution to bolstering the national economy, aligning with Malaysia’s aim to nurture its technology sector, particularly small and medium-sized enterprises (SMEs).
Ratings extended to RM2.0 Billion
Nizam Mohamed Nadzri, MDV’s Chief Executive Officer, expressed his satisfaction with the ratings, stating that they reflect MDV’s steadfast commitment to its mandate and the continued confidence placed in the company by its stakeholders and the government. Additionally, the AA3 rating enhances MDV’s ability to access external funding, further strengthening its pivotal 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,” Nizam remarked. With Malaysia poised for digital and energy transformation, a thriving and well-supported technology sector plays a vital role in achieving the objectives of the Ekonomi Madani (Civilizational Economy), and MDV is committed to continuing its pivotal role in this transformation.
Assisting underserved technology-based companies
Since first being 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 continuously strengthened its commitment to assisting underserved technology-based companies and startups to bridge 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.
MDV’s reaffirmed ratings are expected to boost investor confidence and further solidify its position as a key player in Malaysia’s technology-driven economic landscape, supporting the country’s aspirations for sustained growth in the tech sector.