NST Business
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has announced the launch of a RM1 billion Ekuinas Direct (Tranche IV) Fund with an option to increase to RM1.5 billion.
The fund’s geographical focus will be Malaysia with the emphasis on its core sectors such as education, oil & gas, fast moving consumer group (FMCG), retail & leisure, healthcare and services as well as considerations in other sectors with positive prospects.
Ekuinas chief executive officer Syed Yasir Arafat Syed Abd Kadir said the launch of the fund is in line with the government-linked private equity fund management company's 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 (4IR).
"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 the local companies as well as the economy.
"We see these catalysts as factors that will support Malaysia's growth trajectory in 2019 and Ekuinas endeavours to continue delivering on its mandate in providing high-potential Malaysian companies with the building blocks to accelerate their next level of growth whilst contributing to Malaysia’s wider economic development,” he said in a statement today.
Following the closure of its maiden fund, Ekuinas Direct (Tranche I) Fund, earlier this year, Ekuinas has successfully realised RM2.3 billion from its divestment proceeds, dividends and interests which has contributed to the setting up of the new fund.
This will bring Ekuinas’ total funds under management (FuM) to RM4.1 billion.
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