Friday 29 Mar 2024
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KUALA LUMPUR: State-linked private equity fund management firm, Ekuiti Nasional Bhd (Ekuinas), has expanded its investment portfolio with two new deals totalling RM124 million at the end of financial year 2014 (FY14).

This brought its total investments as at end-FY14 to RM605.8 million. Its total cumulative inception is now 33 investments totalling RM3 billion.

In a statement yesterday, Ekuinas said it had spent RM54 million to purchase a 60% stake in Tranglo Sdn Bhd, a home-grown mobile transaction gateway services company.

Tranglo is headquartered in Kuala Lumpur and has offices in Indonesia, the Middle East and the United Kingdom. It provides the platform for mobile communication companies to facilitate cross-border transfer of prepaid credit and money remittance in a fast, easy and secure manner.

“While the mobile remittance services sector is still relatively nascent, the potential is enormous for Tranglo, given that the huge international remittance market in Asia alone is currently estimated at US$200 billion (RM738 billion).”

“This presents a unique opportunity for Ekuinas to back Tranglo to potentially become a global leader in international airtime transfer and mobile-to-cash remittance services,” said Ekuinas chairman Raja Tan Sri Arshad Raja Tun Uda.

Meanwhile, another RM70 million investment was for a 70% stake in Tenby Educare Sdn Bhd, owner of a chain of international and private schools. This purchase was undertaken through Ekuinas’ education arm, Ilmu Education Group Bhd.

“Tenby Group represents a strategic investment to expand Ilmu’s presence in the growing Malaysian K-12 (primary and secondary) private education sector,” said Ekuinas chief executive officer Datuk Abdul Rahman Ahmad.

“The investment also positions Ekuinas closer to its proposed listing and realisation exercise for Ilmu, targeted for end-2015 or early 2016, with Ilmu now possessing a diversified portfolio of tertiary and K-12 education investments, and a combined pro forma revenue of more than RM377 million,” he added.

Tenby currently operates five international and private schools in Setia Eco Park, Selangor; Ipoh, Perak; Penang, Miri, Sarawak; and Johor Baru in Johor.

 

This article first appeared in The Edge Financial Daily, on March 24, 2015.

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