KUALA LUMPUR, May 29 (Bernama) -- Ekuiti Nasional Bhd’s (Ekuinas) cumulative committed direct investment rose to RM4.9 billion in financial year 2024 (FY2024) from RM4.5 billion a year ago, with total economic capital deployed is RM5.6 billion.
In a statement today, the government-linked private equity company said funds under management (FUM) increased by 19 per cent to RM5 billion. Its operating expenditure (OPEX)-to-FuM ratio remained steady at 1.1 per cent.
The government-linked private equity company said the gross internal rate of return (GIRR) for Ekuinas Direct Tranche IV Fund was 38.9 per cent, while Tranche II Fund was 12.0 per cent.
"Ekuinas Direct (Tranche III) Fund showed modest improvement with a GIRR of 1.6 per cent. Meanwhile, its outsourced programme reported GIRRs of 3.8 per cent (Tranche I) and -6.9 per cent (Tranche II)," it said.
The earnings before interest, tax, depreciation and amortisation (Ebitda) of portfolio companies under Ekuinas Direct Funds grew by 3.3 per cent, rebounding from a 7 per cent contraction in 2023.
UNITAR Education group recorded a soaring Ebitda of 77.2 per cent while Medispec (M) Sdn Bhd and Exabytes Capital Group achieved 48.7 per cent and 30.9 per cent Ebitda growth, respectively.
"Ekuinas’ headline achievement in FY2024 was the strategic divestment of a 50.2 per cent stake in ICON Offshore Bhd in March 2024.
"Another key highlight was the roll-out of Ekuinas’ RM800 million Private Credit Fund in November 2024 to provide shariah-compliant, highly bespoke and innovative financing to underserved mid-market businesses," it said.
Chief executive officer Aliff Omar Mohamad Omar said the company sharpened its investment focus and unlocked meaningful value across portfolios.
"Our pivot into healthcare and pharmaceuticals reflects our confidence in resilient, high-growth sectors. We also see potential in highly niche and innovative enterprises such as Mizou, with their proprietary technology supporting the palm oil sector, which is vital to the Malaysian economy," he said.
The company will remain focused on strategic capital deployment, sector-driven value creation and expanding its offering to include more agile capital solutions.
-- BERNAMA
