New Appointments, Chairman And CEO in Ekuinas

Reported in the Star, the following were appointed to Ekuinas which is the newly set up private equity investment institution aimed at promoting effective bumiputra economic participation:-

• Ex-PWC executive chairman, Raja Tan Sri Arshad Raja Tun Uda as chairman
• Media Prima Bhd outgoing group MD/CEO Abdul Rahman Ahmad as CEO and director
• Both appointments take placed with effect on September 1^st 

The founding members of Ekuinas board of directors are:

• Symphony House Bhd Group CEO and ex-MD of Pengurusan Danaharta Nasional Bhd, Datuk Azman Yahya
• Institute of Strategic and International Studies Malaysia chairman and CEO Tan Sri Mohamed Jawhar Hassan
• Economic Planning Unit director general Datuk Noriyah Ahmad 

About Ekuinas:

• Was established subsequent to Prime Minister’s announcement on June 30 as part of a number of measures to enhance the competitiveness of the Malaysian economy whilst maintaining the government’s commitment toward promoting sustainable, meaningful and effective bumiputra participation through genuine partnerships and meritocracy
• Ekuimas will manage an initial fund of Rm500m which subsequently be enlarged to Rm10billion
• It will be commercially driven with investments focused on strong Malaysian companies with high growth potential and will work towards attracting and nurturing talent for management in investee companies
• It will also collaborate with private capital and adopt best practices of global private equity firms.

It’s definitely a booster for the stock market with the participation from this to be Rm10billion private equity government institution.