Ekuinas sells Tranglo stake to TNG FinTech for RM115mil

Temporary anti-dumping measures on ethanolamine products produced in the Malaysia, Saudi Arabia, Thailand and the United States is also being introduced.

PETALING JAYA: Government-linked private equity fund management firm Ekuiti Nasional Bhd (Ekuinas) has divested its entire 60% stake in Tranglo Sdn Bhd to TNG FinTech Group Inc for RM114.9mil.

In a statement yesterday, Ekuinas said the divestment translates to an internal rate of return of 26.8% and money multiple of 1.96 times the capital invested.