Ekuinas
KUALA LUMPUR: State-backed private equity firm Ekuiti Nasional Bhd (Ekuinas) is relooking its initial plans to list its consolidated education group, Ilmu Education Group Bhd (Ilmu).
Ekuinas chief executive officer Syed Yasir Arafat Syed Abd Kadir said it would instead look at ways to maximise its investment in the education group.
He said Ekuinas was in the midst of restructuring and reorganising its portfolio on the Ilmu group.
“We have taken the decision to relook our strategy when it comes to Ilmu.
“After due deliberation we think listing is not the best way to go.
“After a thorough strategy review, what we found is that the sum of parts is greater than its value as a whole, so we are looking towards employing that strategy,” he told reporters on Tuesday.
However he said Ekuinas was still looking to divest the education group and was in the midst of engaging with potential investors.
Ekuines had earlier announced plans to list the education group on Bursa Malaysia.
The Ilmu group consists of Unitar International University, Asia Pacific University (APU), Cosmopoint College, Asia Pacific Institute of Information Technology (APIIT) in Sri Lanka, Kuala Lumpur Metropolitan University College, Tenby Educare Sdn Bhd and Asia Pacific Schools.
Limited time offer:
Just RM5 per month.
