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GEORGE TOWN: Malaysia Venture Capital Management Bhd (MAVCAP) wants to acquire companies whose technology is compatible and synergises with those of its investee companies.

The global recession would have caused many companies to face a shortage of funds and they would be looking for fresh investments, chief executive officer Husni Salleh said.

Husni Salleh

“Directly under the management of MAVCAP are about 45 companies that are involved in the information and communications technology (ICT) business.

“It is for these companies that we will be seeking partners,” he told StarBiz.

MAVCAP is involved in another 45 companies through its outsourced partners.

MAVCAP would also invest in the branding of the companies directly under its control, Husni said after a seminar on the usage of ICT organised by the Penang Malay Chamber of Commerce (PMCC).

“The objective is to enhance their reputation so that they can make their presence felt in the region. We see in the crisis opportunities for us to expand locally and regionally, as there are companies that will be cutting operational costs by outsourcing ICT work and services,” he said.

Meanwhile, PMCC Dewanita chairman Yuslinov Ahmad is training its 600 women members on how to do business using ICT.

“The usage of ICT would help our members achieve more profits for their business as they would not have to use middlemen,” she added.

Most of the PMCC members were involved in the sale of cosmetic and herbal products, Yuslinov said.

SOURCE: The Star - MAVCAP seeks to buy ICT firms (David Tan)

Note: ICT Penang currently maintains its secretariat at the Penang Malay Chamber of Commerce (DPMMPP) office.