KUALA LUMPUR (Oct 26): The government will not be injecting fresh funds into the state-owned private equity firm, Ekuinas Nasional Bhd, next year, says the minister in charge of the Economic Planning Unit (EPU), Datuk Abdul Rahman Dahlan. Later in the Parliament lobby, he told pressmen that Ekuinas still has about RM2 billion cash in hand from previous investment returns, to finance its investment needs next year. “It means, for 2017, the government will not need to give money to Ekuinas, because it has its own money,” he added. “Just like any other PE firms, investment returns will be achieved via asset divestments,” he added. However, Abdul Rahman conceded that 2017 will remain a challenging year for Ekuinas to make divestments, given the lower valuations in general due to the more subdued business environment now.

Source: The Edge Markets October 26, 2016 08:48 UTC