Ekuinas launches RM1bil fund to boost local businesses
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has launched a RM1bil Ekuinas Direct (Tranche IV) Fund (Fund IV) with an option to increase to RM1.5bil for deployment to continue to accelerate the growth of local and high potential businesses.
Ekuinas said the fund’s geographical focus would 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 RM2.3bil 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 RM4.1bil,” the government-linked private equity fund management company said in a statement.
“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-A 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. — Bernama