Islamic Finance

Two Islamic Private Equity Firms invest into MDT Innovations Sdn Bhd

SBI Islamic Fund II (Brunei) Limited (“SBIF II”) and COPE Private Equity (“COPE”) jointly announce the commitment of separate investments amounting up to USD14.25 million into MDT Innovations Sdn Bhd (“MDT Innovations”). The new capital injection will fuel and strengthen MDT Innovations’ research and development (“R&D”), enhance its product quality, expand its business scale, and maintain its competitive edge in order to become a market leader in the Internet of Things (“IoT”) industry and raise its profile as an internationally established player.

MDT Innovations focuses on IoT value chains ranging from intelligent wireless communications, IoT as a service, to neural network solutions, the company offers services in the key domains such as crowd movement, things management and fintech enablement.

Since its founding in 2004, the company has won numerous awards, including the Red Herring Global 100 in 2008, Deloitte Technology Fast 500 APAC in 2011, with founder Liew Choon Lian winning EY Technology Entrepreneur of the Year 2015. Also, the APAC CIO Magazine rated MDT Innovations as one of the top 25 IoT solution providers in 2018.

MDT Innovations' solutions in crowd movement, automation, smart tagging and retail solutions are based on its intelligent wireless sensor systems. These solutions are found in Fortune-500 semiconductor firms, hospitals and retail chains in China, Malaysia, and Australia.

Mr Liew Choon Lian, CEO of MDT Innovations, said: “We are pleased to be partnering with COPE and SBIF II, two leading institutions to support the growth of MDT Innovations. We believe MDT Innovations is uniquely positioned to tap the huge market that is IoT in Asia-Pacific.”

Dato’ Azam Azman, Managing Partner of COPE Private Equity, said: “MDT Innovations is a Malaysian company with world class technical know-how in the IoT industry. We are excited to partner with Mr Liew and his talented team and look forward to support their growth in the years to come.”

Mr. Amran Mohd, CEO of SBI (B) Sdn Bhd, said: “The world is more connected than ever in the Industrial Revolution 4.0. MDT Innovations is in the right space of IoT, a high growth market which Mr Liew and his dedicated team are at the forefront in the region. We are more than excited to support MDT Innovations to achieve their vision to be the leader in the IoT space.

COPE Private Equity made the investment from COPE Opportunities IV Sdn Bhd while SBI (B) Sdn Bhd made the investment from SBI Islamic Fund II (Brunei) Limited.

 About MDT Innovations Sdn Bhd

MDT Innovations is engaged in the business of IoT enabler focusing on component engineering including RFID, wireless sensor and wireless transmission technology. The company serves Fortune-500 clients across the education, semiconductor, healthcare and security industry. For more information, visit


About COPE Private Equity

Founded by Dato’ Azam Azman in 2005, COPE Private Equity is a Malaysia based private equity firm focused on making investments in small and midcap growth companies with regional presence. COPE have been active in the market since 2006 with AuM of over MYR600 mil (USD150 mil). COPE Opportunities 2, a fund under management, has been identified by Preqin as among the top 10 best performing growth funds globally (vintage 2010-2014). PEI, an industry publication has shortlisted COPE’s exit from Serba Dinamik as Exit of the Year in Asia-Pacific in 2018. For more information, visit


About SBI Islamic Fund II (Brunei) Limited

SBI Islamic Fund II (Brunei) Limited is a shariah compliant private equity fund managed by SBI (B) Sdn Bhd, a joint-venture fund management company established by the Ministry of Finance and Economy (“MOFE”), Brunei and Tokyo listed SBI Holdings, Inc., (8473:T). Islamic Development Bank, Jeddah joined force with MOFE of Brunei and SBI Holdings, Inc for the fund as Limited Partners with a mandate to invest into diverse range of late stage companies across the Asia Pacific region.


COPE Private Equity

Gavin Tan

SBI Islamic Fund II (Brunei) Limited

Yazaly Yahya



Private Equity