INVESTMENT consultant International Capital Group (ICG) wants to expand strategic alliances with Malaysian technology firms and help them get listed on the US bourses.
The San Diego-based venture capitalist has already formed partnerships with “a long list of high-technology and wireless communications companies” in Malaysia.
“We now want to reach out to biotechnology companies here,” ICG chairman and chief executive officer Lana Huynh told reporters at the Asia Pacific- US Capital Conference in Kuala Lumpur yesterday.
ICG, which has minor stakes in its Malaysian joint ventures, offers structured loans of about RM1 million (US$1 = RM3.80) in each venture to nurture its partners’ businesses.
“The loans can be extended to as high as US$1 million each,” said ICG president Joseph A. Cerbone.
ICG mainly focuses on emerging markets such as eastern Europe, Latin America and Asia Pacific.
It also specialises in matchmaking prospective firms with global investors and alliance partners through conferences.
Cerbone said that the Asia Pacific-US Capital Conference provides ample opportunities for Malaysian firms to present themselves to their US counterparts.
“Malaysian companies will have the opportunity to recognise synergies with American firms, forming long-lasting business ventures both nationally and internationally,” he said.
He added that this will in turn spur local small- and medium- sized enterprises and industries to seek out external funding and resources without depending too much on the Government for financial assistance.
Meanwhile, Huynh said that Malaysia has a flexible economy which welcomes a wide range of industries.
The US companies feel open and comfortable working in a business environment geared towards technology industries and where legal and accounting practices are mature and dependable, she added.
ICG brought 10 technology companies from the US to the two-day conference, which ended yesterday.
The event was jointly sponsored by the Malaysian Industrial Development Agency, Malaysian Venture Capital Management Bhd, Malaysian Debt Ventures Bhd, Photonics Venture Capital and Technopreneurs Association of Malaysia.
