Ekuinas divests entire 100% stake in APIIT


Ekuinas chairman Raja Tan Sri Arshad Raja Tun Uda.

KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has divested its 100% equity interest in the APIIT Education Group to joint venture vehicles owned by the existing key management team and KV Asia Capital, based on an enterprise value of RM725mil.

The education group comprises Asia Pacific Schools (APS), Asia Pacific University of Technology & Innovation (APU) and Asia Pacific Institute of Information Technology (APIIT) 

“We are divesting our stake to the new owners which includes the existing key management team of APIIT Group that has a combined experience of more than 100 years in the industry. 

"With that, it will ensure the interest to continue providing quality education is constantly aligned,” said Ekuinas chairman Raja Tan Sri Arshad Raja Tun Uda.

Ekuinas first entered APIIT Education Group via a 51% stake acquired from Sapura Resources Bhd in 2010 for 102mil.

In March 2016, it acquired the remaining stake in APIIT from Sapura Resources for RM247mil to become its sole owner.

According to Arshad, the divestment will allow Ekuinas to recoup its cost of investment and generate a positively blended internal rate of return of 22.3% and money multiple of 1.6 times the capital invested, including dividends received.

Ekuinas also said the number of students in the APIIT education group had increased over the investment period, from 7,700 in 2010 to over 10,000 in 2016.

Unlock 30% Savings on Ad-Free Access Now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

KPJ to undertake hospital renovation works totalling RM31.97mil
PETRONAS: Calm exterior, but O&G sector remains on guard
Apollo Food ends FY25 on a high note, eyes continued growth
Theta Edge bags RM4.4mil mobile x-ray contract from NCSM
Bursa Malaysia slips amid cautious sentiment over Middle East tensions
Asian currencies weaken on Middle East tensions; rate decisions in focus
Anwar praises EPF's efforts in enhancing retirement adequacy
Oil rises as Iran-Israel conflict keeps floor under prices
Double win for S P Setia at FIABCI World Prix d’Excellence 2025
Bank of Korea to lower interest rates cautiously, minutes show

Others Also Read