Oleh/By  	:	DATO SERI DR MAHATHIR MOHAMAD
Tempat/Venue	:	KUALA LUMPUR
Tarikh/Date	:	30/08/2002
Tajuk/Title 	:	THE OFFICIAL LAUNCH OF MALAYSIA 
			DEBT VENTURES BERHAD
Versi 		:	ENGLISH
Penyampai	:  	PM
		    

      I  would like to thank the Board of Directors  and
   the  management of Malaysia Debt Ventures Berhad  (MDV)
   for their gracious invitation. It is a privilege for me
   to  address this gathering on this auspicious occasion,
   where  Asia's  first  ever  scheme  for  project   debt
   financing  is  officially launched.  This  occasion  is
   especially  significant  because  the  setting  up   of
   Malaysia  Debt Ventures Berhad augments  the  good  and
   faithful relations between Malaysia and Japan.
   
   2.   This commitment towards good relations between our
   two  nations is most timely since the generous  helping
   hand  of  the Government of Japan comes at a time  when
   the  global  economic  outlook  is  uncertain.  We  are
   grateful  that  the  Japanese government,  through  the
   Japan  Bank  for International Cooperation  (JBIC)  has
   extended  a  loan  agreement  totaling  USD420  million
   (RM1.6 billion), to the Government of Malaysia.
        
   3.   I am glad to note that this groundbreaking project
   debt  financing  will  be the test-bed  for  innovative
   financial  solutions  for ICT  and  high-growth  sector
   technology  companies  in  Asia  and  emerging   market
   countries. I believe the loan will prove a useful means
   to provide much-needed financing for companies involved
   in  the  ICT  and  high  growth  sectors  to  undertake
   projects to develop innovative solutions and products.
   
   4.   Malaysians have always admired the Japanese spirit
   of  innovation. Never before has this spirit been  more
   needed than in the field of ICT and, more recently,  in
   the  life  sciences and biotechnology.  This  can  only
   happen  in  an atmosphere of global peace and  economic
   stability.
   
   5.     The   ICT  and  biotechnology  sectors   require
   entrepreneurs who not only possess relevant educational
   qualifications,  but  also are imbued  with  a  natural
   sense of adventure, are innovative and creative and are
   willing to face failures and setbacks.
   
   6.    While  Malaysians  celebrate  the  45th  year  of
   Independence from colonial rule, young Malaysians  born
   in   the  freedom  and  prosperity  of  an  independent
   Malaysia  have been fortunate to have never experienced
   the humiliation and sufferings of their forefathers.
   
   7.    They have grown up in a free country - free  from
   colonial  rule, free from fear, free from hunger,  free
   from  ignorance and free from humiliation. These  young
   Malaysians  can  now walk with their  head  held  high,
   facing the world with dignity.
   
   8.    They  are  the  reason  why  we  established  the
   Multimedia  Super Corridor, a project  for  the  future
   which will benefit the future generation most of all.
   
   9.    Malaysia's  success in the  ICT  sector  and  the
   emerging  biotechnology  sector  will  depend  on   the
   cravings  for challenges that reside within  our  local
   entrepreneurs.  I  am confident that the  user-friendly
   financing  facility offered by Malaysia  Debt  Ventures
   will  help  in  the  achievement of success  for  their
   enterprises.
   
   10.   It  is this "hunger" for success that will  drive
   Malaysian  entrepreneurs to come up with new ideas  and
   to  be innovative as well as creative in any field they
   dare  to venture. To our young Malaysians out there,  I
   say "You need to be daring enough to push the limits of
   the  envelope, to go beyond the horizon. You just might
   discover something new that can do the nation proud!"
   
   11.  The nation has learnt much from the experience  of
   the  MSC and with the impending development of the Bio-
   Valley,  we believe Malaysia is well on the way towards
   bridging  the  international  information  and  digital
   divide.
   
   12.   Every year, the Malaysian Government allocates  a
   substantial amount towards the development  of  ICT  in
   the  country. In the 8th Malaysia Plan, a total of  RM7
   billion has been allocated for the ICT sector.
   
   13.   The  emphasis that the government places on  ICT,
   and now biotechnology, is not decided upon arbitrarily.
   Financing  is a major hurdle for local enterprises  and
   we  realise  that  for this sector to grow,  the  local
   financial industry must also respond proactively.
   14.  We realise that traditional financial institutions
   including  banks and venture capital firms are  working
   at  their  own pace in providing the financial  support
   required by various ICT companies. With the setting  up
   of  Malaysia Debt Ventures Berhad, armed with the RM1.6
   billion-loan  facility provided by  the  Government  of
   Japan, those companies, which successfully secure  high
   value-added ICT businesses and contracts can now access
   this ample fund and  grow at a much faster pace.
   15.  It heartens me to know that Malaysia Debt Ventures
   Berhad  can provide not only an alternative  source  of
   financing  that  meets the cash strapped  entrepreneurs
   halfway  but  also  complementing the  other  financing
   offered  by  banks and Venture Capitals. Collateral  to
   secure  a loan is flexible and only requires contracts,
   personal  or  corporate guarantees, Letter  of  Credit,
   Intellectual   Property  Rights   and   assignment   of
   receivables.
   
   16.   The  Japanese Government has kindly  provided  us
   with  this  loan  facility and  I  hope  Malaysia  Debt
   Ventures Berhad and more importantly the recipients  of
   the   fund,  will  take  full  responsibility  and   be
   accountable for the fund. Maintaining transparency  and
   professionalism are important. Success  does  not  come
   easy  on a silver platter. Success can only be achieved
   through hard work and perseverance.
   
   17.   The  good news is that MDV also aims to  transfer
   knowledge  to  local  financial  institutions  and  ICT
   companies to enable them to be self-sustaining.  As  an
   active  financial institution, it is my hope  that  MDV
   will venture beyond giving out loans but also seek  out
   companies in need of financing as well as initiate  ICT
   projects in the public and private sectors.
   18.    I  am  confident  that  this  practice  of  good
   corporate  governance,  even in  the  early  stages  of
   business,  will  certainly  go  far  towards  promoting
   investor  confidence  while instilling  discipline  and
   accountability among entrepreneurs.
   19.   I take this opportunity to congratulate the Board
   of  Directors and Management of Malaysia Debt  Ventures
   Berhad  on  their  untiring efforts  to  bring  greater
   meaning    to   the   Government's   initiatives.    My
   congratulations also to Mr. Jiro Suzuki  and  his  team
   for  their  tenacity  and vigour towards  ensuring  the
   success of today's event.
   20.   On  that note, I am pleased to officially  launch
   Malaysia Debt Ventures Berhad.

   Sumber : Pejabat Perdana Menteri