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Media Statement


By  :  DATO' SRI MOHD NAJIB BIN TUN HAJI ABDUL RAZAK
PERDANA MENTERI MALAYSIA
Venue  :  PUTRAJAYA
Date  :  04/09/2009
Title  :  OPERATIONALISATION OF EKUINAS

Pejabat Perdana Menteri
Putrajaya, 4 September 2009 – YAB Prime Minister welcomed the announcement of the operational details and investment framework of Ekuiti Nasional Berhad (Ekuinas), which was unveiled by its Board of Directors today.
 
At a press briefing, Ekuinas Chairman Raja Tan Sri Arshad Raja
Tun Uda said the organization would be a Government-linked private equity fund management company that aims to create Malaysia’s next generation of leading companies, while promoting equitable and sustainable Bumiputera economic participation.
 
YAB Prime Minister said, ”Through its investments, Ekuinas will play a major role in strengthening Bumiputera participation and at the same time, will forge genuine partnerships with non-Bumiputeras. Thus, as a result, Ekuinas activities will benefit all Malaysians and the Malaysian economy.”
 
Ekuinas has been established as a wholly owned subsidiary of Yayasan Ekuiti Nasional, a Bumiputera trust. The Prime Minister also announced that the Yayasan Ekuiti Nasional’s members of the board of trustees are as follows:-
 
-       YAB Dato’ Sri Mohd. Najib bin Tun Abdul Razak, Prime Minister (Chairman)
-       YAB Tan Sri Dato’ Muhyiddin bin Mohd. Yassin, Deputy Prime Minister
-       YB Tan Sri Nor Mohamed Yakcop, Minister in the Prime Minister’s Department
-       YB Dato’ Mustapa Mohamed, Minister of International Trade and Industry,
-       YB Dato’ Seri Ahmad Husni bin Mohamad Hanadzlah, Minister of Finance II
-       YBhg. Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah, Secretary General of the Treasury
-       YBhg. Dato Noriyah Ahmad, Director General of the Economic Planning Unit  
 
At the press briefing, it was highlighted that Ekuinas would be commercially driven, utilising both public as well as private capital to invest in meaningful stakes in entities with strong potential for growth. Ekuinas would invest in medium to large sized companies and would take an active investment role in growing its investee companies as well as enhance the quality of management.
 
The investment decisions and selection of management by Ekuinas will be based on merit. Ekuinas will build on success, supporting entrepreneurs with a proven track record. In addition, Ekuinas will also build up companies through putting in place professional management with performance based compensation, including equity based incentives. “We have a good number of highly talented Bumiputera professionals and we will enlarge the entrepreneur pool by making some of them professional-owner-managers,” added YAB Prime Minister.
 
Ekuinas will be managing its own portfolio of investments as well as outsource some of its funds to capable private equity investment firms.
 
YAB Prime Minster said, “I am pleased that Ekuinas has commenced operations and I am confident Ekuinas will secure suitable investments and transform them into Malaysia’s leading companies”.
 
YAB Prime Minister also said that a high level committee for Bumiputera Entrepreneurial Development will be formed to specifically focus on strengthening Bumiputera entrepreneurship within the start up and development phase. This committee will report to YAB Prime Minister and will be chaired by Tan Sri Nor Mohamed Yakcop, Minister in the Prime Minister’s Department. The committee will be based on the successful model of the Putrajaya Committee for GLC High Performance and is aimed at enhancing the effectiveness of entrepreneur development programmes undertaken by relevant Government-linked institutions. 
 
YAB Prime Minister said that the establishment of Ekuinas and the Putrajaya Committee reflects the Government’s approach of using multiple instruments to comprehensively address the challenges in developing Bumiputera and Malaysian entrepreneurs.
 
 
 


Last Update on 04/09/2009 
This Media Statement has been read 7525 times
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