Latest news with #RM4.9
Barnama
7 days ago
- Business
- Barnama
Ekuinas Committed Direct Investments Rose To RM4.9 Bln In FY2024
BUSINESS 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.
New Straits Times
7 days ago
- Business
- New Straits Times
Ekuinas posts solid FY2024 results, highlights strategic growth and impact
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) reported a strong performance for the financial year ended Dec 31, 2024 (FY2024), underpinned by resilient portfolio growth, disciplined investment strategies, and impactful capital deployment. The firm's cumulative committed direct investments rose to RM4.9 billion, up from RM4.5 billion the previous year, while total economic capital deployed increased to RM5.6 billion. Funds under Management (FuM) grew by 19 per cent to RM5 billion, maintaining an efficient OPEX-to-FuM ratio of 1.1 per cent. "In a year marked by global economic headwinds, Ekuinas portfolio companies demonstrated resilience and growth. Despite ongoing volatility in global markets, we remained focused on disciplined execution and long-term value creation," said chief executive officer Aliff Omar Mohamad Omar. EBITDA for Ekuinas' Direct Funds portfolio rose 3.3 per cent in FY2024, recovering from a 7 per cent contraction in 2023. Among the top performers were UNITAR Education Group, which saw its EBITDA surge 77.2 per cent, fuelled by digital initiatives and higher international student intake; Medispec (M) Sdn Bhd, which recorded 48.7 per cent growth from strategic expansion; and Exabytes Capital Group, which achieved 30.9 per cent growth amid increased SME demand for cloud services. Fund performance remained solid, with Ekuinas Direct Tranche IV delivering a Gross IRR (GIRR) of 38.9 per cent, Tranche II at 12 per cent, and Tranche III showing modest improvement at 1.6 per cent. "FY2024 was a transformational year for Ekuinas. Against a volatile backdrop, we sharpened our investment focus and unlocked meaningful value across our portfolios. Our pivot into healthcare and pharmaceuticals reflects our confidence in resilient, high-growth sectors, as seen in our investment in Symbiotica," Aliff Omar said in a statement. A major milestone in FY2024 was the profitable divestment of its 50.2 per cent stake in ICON Offshore Bhd, realising over RM500 million in cumulative gains during its decade-long holding, one of the few profitable institutional exits in the volatile oil & gas sector. Ekuinas also broadened its portfolio with strategic investments in Symbiotica Speciality Ingredients (April 2024) and Mizou Holdings. In November 2024, the company launched an RM800 million private credit fund to provide Shariah-compliant, tailored financing solutions for underserved mid-market companies. The fund completed its first transaction in early 2025, further positioning Ekuinas as a multi-asset investor. Aliff Omar said Ekuinas sees strong 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 added that with the new Private Credit Fund, the firm is now even better positioned to catalyse growth in Malaysia's dynamic mid-market segment. Meanwhile, Ekuinas delivered tangible social impact. As of Dec 31, 2024, the firm generated RM6.9 billion in Bumiputera equity creation (1.6x capital invested) and RM8.8 billion in total shareholders' value (2.0x capital invested). Additionally, portfolio companies saw a 28.4 per cent increase in Bumiputera management representation and a 13.2 per cent rise in Bumiputera employment across portfolio companies. Through its ILTIZAM CSR platform, Ekuinas disbursed RM15.3 million in 2024 for entrepreneurship, education, and community programmes, reaching over 17,000 beneficiaries nationwide.
Malaysian Reserve
28-05-2025
- Business
- Malaysian Reserve
BNM imposes over RM4.9m in fines on HSBC, Maybank Islamic, and Bank Pembangunan for regulatory breaches
BANK Negara Malaysia (BNM) has slapped hefty penalties exceeding RM4.9 million on three major financial institutions for breaches involving customer due diligence, sanctions screening, and credit reporting. HSBC Bank Malaysia Bhd (HBMY) and HSBC Amanah Malaysia Berhad (HBMS) were fined a combined RM3.26 million for repeated failures to comply with anti-money laundering (AML), counter-terrorism financing, and sanctions screening requirements. BNM's on-site reviews found that HSBC did not properly verify beneficial owners of customers and repeatedly failed to conduct timely sanctions screening during customer onboarding, despite earlier remedial efforts. These lapses, it said, put the financial system at risk of abuse for terrorism and proliferation financing. 'The remedial measures implemented by HSBC were insufficient, resulting in similar breaches which recurred in 2024,' said BNM. HSBC has since upgraded its systems to block account openings until sanctions screening is completed. Maybank Islamic Bhd was fined RM1.2 million for submitting inaccurate and late data to the Central Credit Reference Information System (CCRIS), affecting credit records of borrowers. Accurate CCRIS reporting is crucial to ensure fair credit assessments and prevent wrongful loan denials. BNM noted the issue 'affected the accuracy of credit reports in the CCRIS system.' Maybank Islamic has implemented measures to prevent recurrence. Bank Pembangunan Malaysia Bhd received penalties totalling RM493,500 for shortcomings in customer due diligence and sanctions screening, including failure to identify beneficial owners properly and delays in screening customers against updated sanctions lists. BNM said these lapses were caused by staff's inadequate understanding and internal control gaps. BPMB has taken steps to strengthen its compliance and employee training. These enforcement actions reflect BNM's commitment to ensuring the integrity and resilience of Malaysia's financial sector. 'The enforcement actions taken are in line with our approach and are aimed at promoting sound risk management practices in the financial sector,' said BNM. BNM urged all financial institutions to prioritise accurate credit reporting, rigorous customer due diligence, and effective sanctions screening to protect the financial system from abuse and maintain public trust. — TMR
The Sun
14-05-2025
- Business
- The Sun
Sarawak allocates RM3.55 billion to build modern govt quarters
SARIKEI: The Sarawak government has approved an allocation of RM3.55 billion, under the 13th Malaysia Plan (13MP), to develop modern government quarters across the state, said Premier Tan Sri Abang Johari Tun Openg. According to him, the initiative aims to safeguard the welfare of civil servants, particularly those serving in rural areas. The new government quarters will not only house state government officials, but will also be made available to federal officials, when necessary. 'For example, in my state constituency of Gedong, there are no quarters for on-duty doctors. As a result, we have had to rent houses from villagers. That's where the inspiration to build these modern quarters came from,' he told reporters, after officiating the Sarikei Division Government Administration Centre, today. Abang Johari said that the new quarters will be built in the form of apartments, and managed by a specialised agency. These quarters will be equipped with a security system, and a recreation centre to support the physical and mental well-being of civil servants. 'This is a new approach, so that government officials can serve the people better,' he added. Several sites have been identified and approved for construction by the Public Service Commission (SPA), with priority given to locations near government offices, and recreational facilities such as stadiums. Meanwhile, Abang Johari expressed satisfaction with the progress of development projects in the Sarikei Division, involving 200 government initiatives as of April 2025, with a total allocation of RM4.9 billion. These projects cover various sectors, including the construction of roads, bridges, and water and electricity supply. Among the completed key projects is the Sarawak Government Administration Centre in Sarikei, which houses the Resident's Office and various government agencies at a cost of over RM154 million. 'All these projects are progressing according to schedule, further strengthening the government's development planning in the area,' he said.
Barnama
14-05-2025
- Business
- Barnama
Sarawak Allocates RM3.55 Billion To Build Modern Govt Quarters
SARIKEI, May 14 (Bernama) -- The Sarawak government has approved an allocation of RM3.55 billion, under the 13th Malaysia Plan (13MP), to develop modern government quarters across the state, said Premier Tan Sri Abang Johari Tun Openg. According to him, the initiative aims to safeguard the welfare of civil servants, particularly those serving in rural areas. The new government quarters will not only house state government officials, but will also be made available to federal officials, when necessary. 'For example, in my state constituency of Gedong, there are no quarters for on-duty doctors. As a result, we have had to rent houses from villagers. That's where the inspiration to build these modern quarters came from,' he told reporters, after officiating the Sarikei Division Government Administration Centre, today. Abang Johari said that the new quarters will be built in the form of apartments, and managed by a specialised agency. These quarters will be equipped with a security system, and a recreation centre to support the physical and mental well-being of civil servants. 'This is a new approach, so that government officials can serve the people better,' he added. Several sites have been identified and approved for construction by the Public Service Commission (SPA), with priority given to locations near government offices, and recreational facilities such as stadiums. Meanwhile, Abang Johari expressed satisfaction with the progress of development projects in the Sarikei Division, involving 200 government initiatives as of April 2025, with a total allocation of RM4.9 billion. These projects cover various sectors, including the construction of roads, bridges, and water and electricity supply. Among the completed key projects is the Sarawak Government Administration Centre in Sarikei, which houses the Resident's Office and various government agencies at a cost of over RM154 million.
