KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) foresees that the private equity market to remain subdued next year, due to lofty valuation expectations of entrepreneurs, according to its CEO Syed Yasir Arafat Syed Abd Kadir (pix).
“This year, everybody is taking a very cautious view, in light of expanding multiples,” he told the media at the launch of The Malaysian Private Equity Forum 2019 here today.
He opined that the overvaluation trend is likely to continue into next year.
Syed Yasir pointed out that there has been a number of deals in the private equity market earlier this year that he deemed expensive.
“Unfortunately, this has set the tone for some of the deals we are working on, people are expecting too high of valuation,” he said.
As of September 30, 2019, Ekuinas’ total fund under management stood at RM4.1 billion.
Last year, the fund divested its stake in Tranglo and MediExpress & PMCare, while it acquired Flexi Versa Group.
In March, it acquired a 40% equity stake in Exabytes Capital for RM44 million.
Since its establishment in 2009, Ekuinas has invested into 23 companies.
source https://www.thesundaily.my/business/ekuinas-sees-private-equity-market-to-remain-subdued-next-year-DY1436720
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