Ekuinas launches RM100mil fund to accelerate growth of mid-market bumiputera companies


Ekuiti Nasional Bhd (Ekuinas) CEO Syed Yasir Arafat Syed Abd Kadir

KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has launched a new fund with a capital commitment of RM100 million called Dana Asas to accelerate the expansion of high growth, mid-market Bumiputera companies.

Ekuinas is a government-linked private equity fund management company.

Economy Minister Rafizi Ramli said the mid-market companies selected by Ekuinas would have proven commercial viability and operational excellence.

"The strategic injection of capital, expertise, and network to these companies will accelerate their success.

"As more entrepreneurs leave their mark on a national, regional, and global scale, more creative and brave Malaysians will try their hand at creating something that is commercially viable and socially valuable,” he said at the Dana Asas launching ceremony here today.

Meanwhile, Ekuinas chief executive officer Syed Yasir Arafat Syed Abd Kadir said that the investment amount is RM10 million and up to RM30 million per investment.

"As what we do with all our investments, we map sustainable growth and aggressive value creation plans.

"We will also focus on strengthening business fundamentals and capacity development, enabling them to compete effectively in the sectors and industries they operate in.

"We are looking at holding the investments for between five to seven years. It will be a vigorous transformation for our investees,” he said at the event.

Syed Yasir Arafat also said that Ekuinas would fully disburse Dana Asas within three years.

"We are targeting five to six suitable companies for Dana Asas and have identified three companies so far,” he said.

Ekuinas said the fund would be open to all sectors except companies that are in construction, real estate, gambling, and liquor.

"Eagle Cliffe (M) Sdn Bhd, which owns Kaisar Farmasi, has been named as its first investee company under Dana Asas,” it added. - Bernama

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