KUALA LUMPUR — Jan. 2, 2018: Ekuiti Nasional Berhad (Ekuinas) has launched a RM1 billion Ekuinas Direct (Tranche IV) Fund (Fund IV) with an option to increase to RM1.5 billion to accelerate the growth of local and high potential businesses.
The fund’s geographical focus will be Malaysia, with emphasis on core sectors such as education, oil and gas, fast moving consumer group, retail and leisure, healthcare and services, as well as considerations in other sectors with positive prospects.
“Following the closure of its maiden fund, Ekuinas Direct (Tranche I) Fund, Ekuinas has successfully realised RM2.3 billion from its divestment proceeds, dividends and interests, which have contributed to the setting up of the new fund.
“This brings Ekuinas’ total funds under management to RM4.1 billion,” the government-linked private equity fund management company said in a statement.
Ekuinas chief executive officer Syed Yasir Arafat Syed Abd. Kadir said the launch of Fund IV was in line with its strategy and business plans for the next phase.
“The 2019 Budget is seen to be facilitative and business-friendly, with a strong focus to spur the fourth industrial revolution.
“The government’s effort to drive greater intra-Asean collaboration and trade also creates a dynamic, regional business environment which will have positive impact on local companies, as well as the economy,” he said.
The company saw these catalysts as factors that will support Malaysia’s growth trajectory in 2019. — Bernama