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.
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