By Adib Zalkapli
KUALA LUMPUR, Sept 4 — The government-linked private equity fund, Ekuiti Nasional Berhad (Ekuinas) said today it will not make public all of its investment portfolio.
“We will follow typical disclosure of global equity firms. We will disclose on a progressive basis,” said Ekuinas CEO Abdul Rahman Ahmad at a media briefing here today.
“Sometimes it’s important to keep information confidential especially in the private sector to remain competitive,” said Abdul Rahman when asked whether Ekuinas will be transparent in its investments.
The formation of the private equity fund was announced by Prime Minister Datuk Seri Najib Razak in late June and it will acquire controlling stakes in unlisted local companies to raise the level of Bumiputera participation in commercial activities.
The setting up of Ekuinas was made as part of the government’s efforts in liberalising the economy by cutting the 30 per cent Bumiputra equity quotas and trimming the role of the Foreign Investments Committee (FIC).
The government had provided Ekuinas with an initial fund of RM500 million and the fund is expected to eventually grow to RM10 billion.
Abdul Rahman also told reporters Ekuinas would invest in companies with strong operational and profit track records.
When asked about the benchmark to be used by Ekuinas in assessing the track record of companies, Abdul Rahman said it would be on a case-by-case basis.
“As long as we are convinced, we don’t have to be too stringent on the number of years or the level of profit,” he said.
He also disclosed that Ekuinas is expected to make its first investment in six months’ time.
On whether its investments will be Syariah compliant, Abdul Rahman said while Ekuinas was not driven by Syariah compliance, it would not get involved in gaming or alcohol industries due to the nature of its investments.
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Dey, thamby, global equity firms deal with investors money and they are queried and accountable.
Ekuinas is using rakyat's money. The govt and its money does not belong to Najib, idiot.
Did he pay for his Cambridge and CA qualification??? I wonder. I wonder.
Little boy, do not try to play the govt policy game la. U are out of your depth