MIDFL I (DFC)

closed

Closed

The Malayan Industrial Development Finance Project (MIDFL) for Malaya will provide financial assistance to supplement its monetary resources. The purpose of the MIDFL is to assist the private sector through the provision of medium and long term loans, equity investments, and related services. It has been unable to perform these functions due to insufficient resources, emphasis on security rather than on profitability, inability to utilize forms of investment other than loans, lack of liaison with the Government, and general lack of an enterprising attitude. The project will reorganize the MIDFL so it can serve its purpose of increasing industrial development in Malaya. The components are: 1) enlargement of MIDFL's resources to enable it to make a significant contribution to Malayan industry; 2) creation of a capital structure which gives adequate leverage to share capital; 3) reorganization of the Board of MIDFL so as to make it more representative of Malaya; and 4) pursuit of a more active and consistent policy with sound investment banking principles. This reorganization will correct the main weaknesses of MIDFL's structure, policies and attitudes, provide competent management and staff, and secure resources needed for profitable operation on a bigger scale

World Bank Group

Project

Manufacturing (Industrial), Government