Ekuinas invests in plantation equipment manufacturer

Ekuinas CEO Datuk Syed Yasir Arafat Syed Abd Kadir.

KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has invested RM37mil in machinery manufacturer Mizou Holdings Sdn Bhd, its second investment under its RM100mil Dana Asas fund that focuses on high-growth mid-market bumiputra companies.

In a statement, the private equity fund manager said Mizou is a homegrown bumiputra company mainly involved in research and development, sales, distribution and support services of specialised agricultural machinery designed for the palm oil sector.

Ekuinas chief executive Datuk Syed Yasir Arafat Syed Abd Kadir said Mizou provides innovative solutions for the niche upstream palm oil industry with the opportunity to expand in other agriculture verticals.

“We also recognise the mechanisation tailwind in the industry that captures strong and growing demand from the local and regional players as machinery enhance productivity and reduces the cost of production for its customers.

“Mizou’s successful commercialisation of their tractors and buy-in from key plantation players reflects both product and business viability and we anticipate bright prospects ahead.”

Mizou managing director Shamshuri Abdul Majid added that Ekuinas’ investment will enable it to solidify its position as a specialised player offering palm oil plantation machinery for all kinds of terrain.

Since start in 2001, Mizou has developed and commercialised 11 different variants of specialised tractors designed for the collection of oil palm fruit bunches in the field.

The tractors are specifically designed to navigate the different types of terrain in oil palm plantations, including peat soil, terraced and hilly areas as well as flat and undulating land.

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