Govt financier MDV says handing out loans to stop tech firms leaving Malaysia for neighbours | Malay Mail

MDV chairman Datuk Seri Lee Kah Choon speaks at a MDV client engagement programme in Seberang Jaya April 24, 2019. — Pictures by Steven KE Ooi

“We don’t want people stealing our jewels. Grab was ours and now Singapore is championing to say that Grab is theirs,” he said in his speech during a MDV client engagement programme at The Light Hotel in Seberang Jaya here. He said MDV, which is under the Minister of Finance Inc, has an objective to energise Malaysia as a powerhouse in terms of technology and innovation.

He said the aim is for GDV to “give out money” to these local technology firms, small medium enterprises and start-ups to grow their business.Lee said GDV is looking at financing SMEs and companies along the northern industrial belt which covers Sungai Petani, Kulim, Penang, Taiping and Ipoh. The four areas MDV are looking at for projects to finance included renewable energy, telecommunications and connectivity, digitalisation and technological start-ups.

He said the company is also partnering with banks such as SME Bank, Agrobank, Bank Islam and Bank Rakyat to come up with more funding to lend out to applicants.

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