Ekuinas to distribute RM120mil to YPB


Ekuinas CEO Syed Yasir Arafat Syed Abd Kadir (pic) said Ekuinas’ performance thus far has proven the private equity model plays a positive role in generating the economic growth.

KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) will distribute RM120mil of its gains recorded from its maiden fund, Ekuinas Direct (Tranche I) Fund, to Yayasan Pelaburan Bumiputra (YPB).

It said yesterday the distribution to YPB is for the benefit of its bumiputra unit holders of trust funds managed by Permodalan Nasional Bhd (PNB).

Ekuinas said the gains were from the fund which it had fully divested and closed. This brings the total distribution to PNB to RM320mil, following the RM200mil disbursed in 2014.

The presentation ceremony to PNB was witnessed by Prime Minister Tan Sri Muhyiddin Yassin.

Ekuinas CEO Syed Yasir Arafat Syed Abd Kadir said Ekuinas’ performance thus far has proven the private equity model plays a positive role in generating the economic growth.

“This can be seen from our achievements where we are able to generate returns from our investments and subsequently sharing our gains with the wider bumiputra community, ” he said.

PNB has the best platform given its wide reach of bumiputra unit trust holders, which is in line with Ekuinas’ social objective of generating bumiputra wealth in an impactful manner.

Ekuinas said the principal amount recovered from its investments will be re-invested for future investments.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Ekuinas , Yasir Arafat , fund , PNB ,

   

Did you find this article insightful?

Yes
No

Next In Business News

Kenanga maintains 'underperform' on AirAsia, positive on private placement
JPMorgan CEO Dimon's annual pay is US$31.5 million
Biden to push US Congress for money to fight pandemic globally
Incoming Intel CEO says majority of 2023 products will be made internally
Oil price steadies after unexpected build in US crude stockpiles
S&P, Nasdaq close at record highs on optimism about Biden stimulus plan
Car sales near pre-pandemic levels
Indonesia holds key rate on tame inflation, gradual recovery
Bidders explain role in Silterra sale saga
Mavcom approves 40 air traffic rights applications

Stories You'll Enjoy