BANK PEMBANGUNAN MALAYSIA BERHAD ANNOUNCES STRATEGIC COLLABORATIONS WITH KUMPULAN MODAL PERDANA & MALAYSIAN TECHNOLOGY DEVELOPMENT CORPORATION TO ADVANCE MALAYSIA’S INDUSTRY 4.0 INITIATIVES
Thursday, 17 December 2020, Kuala Lumpur – Bank Pembangunan Malaysia Berhad (Bank Pembangunan) today announced its strategic collaborations with Ministry of Science, Technology, and Innovation’s (MOSTI) funding agencies – Kumpulan Modal Perdana (KMP) and Malaysian Technology Development Corporation (MTDC). These strategic partnerships are aimed at accelerating economic recovery by encouraging and increasing the adoption of technology usage to solve sectorial gaps using advanced technology and automation.
The collaborations will feature funding support from BPMB to drive digitalisation initiatives through the Bank’s own funds and the Digital Infrastructure & High Impact Sectors Programme (IDTS). Meanwhile, the technical support from MOSTI’s funding agencies will be utilised to advance the Government’s Industry 4.0 initiatives to increase the contribution of sectors involved in high impact deep technology, to the national economy.
The exchange of the Memorandums of Understanding with KMP and MTDC was held recently at MOSTI’s headquarters in Putrajaya, witnessed by MOSTI Minister, YB Khairy Jamaluddin Abu Bakar and attended by BPMB President/Group Chief Executive Officer, Arshad Mohamed Ismail. Also present at the ceremony were MTDC Chief Executive Officer, YBhg. Dato’ Norhalim Yunus as well as KMP Acting Chief Executive Officer & Chief Financial Officer, Yarham Yunus.
“We are happy to have forged these strategic partnerships with our esteemed partners and we are confident that together, we will be able to provide funding access to benefit a wider market segment. Simultaneously, the collaborations are also expected to create more jobs through digital enablers in support of the evolving and growing need for digitalisation and automation of businesses.
Looking ahead, we are hopeful for a fruitful endeavour and we are excited to leverage on our collective strengths and expertise to form the perfect synergy in our journey to champion Malaysia’s Industry 4.0 initiatives,” said BPMB President/Group Chief Executive Officer, Arshad Mohamed Ismail.
In BPMB’s collaboration with KMP, both parties will collaborate to facilitate the implementation of the IDTS – aimed at reaching eligible technology-related small and medium-sized businesses requiring funding assistance to grow and expand into high-impact deep technology. KMP’s guidance and experience in investing in technology-related ventures will provide BPMB with better insights into the technology sector.
“We are excited to engage in this productive partnership with BPMB to provide funding access to companies with a focus on deep technology, especially in the Electrical & Electronics sector.
This IDTS initiative is well-timed with the Government’s own intention to create a high-income nation and we believe that by leveraging on our deep technology knowledge and application in the Electrical & Electronics sector, we would be able to achieve this target,” said KMP Acting Chief Executive Officer & Chief Financial Officer, Yarham Yunus.
The collaboration with MTDC will entail both parties working towards advancing Malaysia’s digitalisation initiatives using digital technology to reach out to micro and small-sized businesses. BPMB will work with MTDC and its peer-to-peer financing platform partner, to explore an alternative source of capital to support the growth or working capital needs of the targeted businesses. Additionally, MTDC will provide the technical advice and assessment of the technology-related funding, and co-invest in selected investment notes.
“Through this collaboration, MTDC will assist to accelerate the industry adoption of Industry 4.0 related technologies. The adoption of Industry 4.0 is crucial to increasing the contribution of the manufacturing sector and any other technology related businesses to the national economy.
MTDC will facilitate the implementation of IDTS with P2P funding (IDTS-P2P) by BPMB and provide technical advice on technology sector and other relevant matters to BPMB,” said MTDC Chief Executive Officer, YBhg. Dato’ Norhalim Yunus.
ENDS
PIC 1: (From Left) – KMP Acting Chief Executive Officer & Chief Financial Officer, Yarham Yunus; MOSTI Deputy Secretary General (Technology Development), Dr. Mohd Nor Azman Hassan; MOSTI Minister, YB Khairy Jamaluddin Abu Bakar; BPMB President/Group Chief Executive Officer, Arshad Mohamed Ismail; MOSTI Deputy Secretary General (Planning and STI Enculturation), YBhg. Dato’ Parang Abai @ Thomas; MTDC Chief Executive Officer, YBhg. Dato’ Norhalim Yunus
About Bank Pembangunan
Bank Pembangunan Malaysia Berhad (Bank Pembangunan) was incorporated on 28 November 1973 with a role in the development of the Malaysian economy by assisting entrepreneurs involved in small and medium-sized industries through the provision of various financing facilities, training and advisory services, particularly to Bumiputera entrepreneurs. Today, BPMB is providing medium to long-term financing to the strategic sectors of the economy.
Owned by Minister of Finance Incorporated, BPMB has been accorded the highest rating ‘AAA’ by both RAM Rating Services Berhad (RAM) and Malaysia Rating Corporation Berhad (MARC). It is regulated and supervised by Bank Negara Malaysia under the Development Financial Institution Act 2002.
With a Group Total Assets value of RM25 billion (as at 31 December 2019), the Bank Pembangunan Malaysia Berhad Group is well-positioned to meet the financing and business development needs of Malaysian businesses.
For more information, please contact:
Anita Ramly
Head, Corporate Communications
Bank Pembangunan Malaysia Berhad
Tel: (03) 2611 3346
Email: ym.moc.bmpb@ylmar.atina
Izzat Ratna
Senior Executive, Corporate Communications
Bank Pembangunan Malaysia Berhad
HP: (012) 642 1889
Email: ym.moc.bmpb@tazzi