KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has raised its Bumiputera equity value in its investment portfolio to RM4.4 billion or 1.5 times the total invested capital last year.
The shareholders' value jumped to RM6.3 billion or 2.2 times the total invested capital.
Last year saw Ekuinas recorded commendable performance, generating RM476.7 million in gross portfolio return for its Ekuinas Direct (Tranche I) Fund, translating to annualised gross internal rate of return (IRR) of 10.1 per cent and net IRR of 6.5 per cent, outperforming some of its regional peers of similar vintage.
For the year ended December 2017, Ekuinas Direct (Tranche II) Fund posted a gross portfolio of RM391.7 million, achieving annualised gross IRR and net IRR of 14.6 per cent and 10.2 per cent respectively.
Meanwhile, Dana Ekuinas Direct (Tranche III) recorded a gross portfolio return of RM53.9 million with an annual gross IRR of 10.7 per cent.
Ekuinas chairman Raja Tan Sri Arshad Raja Tun Uda said the achievements to-date are a clear indication that its unique PE model had been successful in raising the game for local businesses and increasing Bumiputera economic participation through Ekuinas’ Bumiputera equity ownership.
He said last year, the number of direct and outsourced investments increased to 58 from 53 in the preceding year with total committed investment up to RM3.6 billion compared to RM3 billion in 2016.
"Ekuinas has a positive impact on the Malaysian economy in general, with total investment of RM4.3 billion through partnership with the private sector," he said.
He said this at a press conference announcing the performance of Ekuinas for the financial year ended December 2017 here.
Also present were Ekuinas chief executive officer Syed Yasir Arafat Syed Abd Kadir.
On investment plans this year, Raja Arshad said Ekuinas had allocated RM400 million for this year's investment. More than half of the allocation had been invested.
ends