Ekuinas closes FY 2014 with RM605m investments

KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas), a government linked private equity fund management company, recorded investments of up to RM605mil in its financial year 2014 (FY14).

It said on Monday the latest two investments accounted for RM124mil which included a 60% stake in Tranglo Sdn Bhd (Tranglo) and 70% of Tenby Educare Sdn Bhd (Tenby). 

It invested RM54mil in Tranglo, a leading global provider of cross border airtime transfer service, which reflected the group’s venture into technology, media and telecommunications industry.

Ekuinas chairman Raja Tan Sri Arshad Raja Tun Uda said the investment in Tranglo would provide a platform for the group to be involved in sizeable cross border airtime transfer industry as well as help Tranglo to expand its business in cross border mobile money remittance services. 

He said mobile remittance services sector in Asia was US$200bil and has great growth potential. 

“This presents a unique opportunity for Ekuinas to back Tranglo to potentially become a global leader in international airtime transfer and mobile to cash remittance services,” Arshad said. 

Ekuinas also invested RM70mil for a 70% stake in Tenby Group – which is Malaysia’s leading chain of international and private schools.

The investment is via its education arm, Ilmu Education Group Bhd (ILMU) which would enable the latter to strengthen its presence in the K-12 private education market. 

“The investment also positions Ekuinas closer to its proposed listing and realisation exercise for ILMU, targeted for end year 2015 or early 2016, with Ilmu now possessing a diversified portfolio of tertiary and K-12 education investments and a combined pro forma revenue of more than RM377mil,” Ekuinas said. 
The investment in Tenby Group further expands ILMU’s K-12 portfolio, which currently includes ownership in Asia Pacific Smart School and Asia Pacific International School in Subang, Selangor.  

Tenby Group operates five international and private schools in Setia Eco Park, Ipoh, Penang, Miri and Johor Bahru. Tenby schools have a strong reputation of providing high quality private education for the growing upper-middle income Bumiputera and Malaysian families.

Tenby Group has a strong financial track record and reached audited revenue of RM83.0mil and EBITDA of RM18.9mil for the FYE 30 June 2014.

The two investments, together with investments undertaken under its Outsourced Programme, enabled Ekuinas to close FY2014 with total investments of RM605.8mil. 

“This brings the total cumulative investments by Ekuinas since inception to 33 investments totalling RM3bil, positively impacting the Malaysian economy,” Ekuinas said.

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