#ekuinas

New Post has been published on http://www.therakyatpost.com/business/2015/02/25/brahims-aborts-burger-king-buy/

Brahim's aborts Burger King buy

KUALA LUMPUR, Feb 25, 2015: 

Brahim’s Holdings Bhd has aborted its plan to acquire the Burger King franchise in Malaysia and Singapore as more than 90% of its shareholders are against it.

Executive chairman Datuk Seri Ibrahim Ahmad Badawi said among the reasons given is that the fast food chain is a loss-making entity.

The inflight meals provider held an extraordinary meeting here today to seek shareholders’ approval to acquire a 100% equity interest in Rancak Selera Sdn Bhd, a unit of Ekuinas, for RM95 million.

Rancak Selera is also the holding company for Cosmo Restaurants Sdn Bhd and Burger King Singapore Pte Ltd.

The acquisition would have given Brahim’s control of the Burger King outlets, and an opportunity to integrate its existing portfolio.

New Post has been published on http://www.therakyatpost.com/business/2015/02/10/next-corporate-rescue-burger-king/

Next corporate rescue: Burger King

KUALA LUMPUR, Feb 10:

After burning through about RM185 million in less than four years, the Burger King franchise in Malaysia and Singapore is getting a white knight in the form of Brahim’s Holdings Bhd.

In a circular filed with Bursa today, Brahim’s said it had roped in former QSR Brands (M) Holdings Sdn Bhd managing director Datuk Ahmad Zaki Zahid to manage the Burger King franchise – aiming to tap his experience in previously running KFC and Pizza Hut outlets in Malaysia, Brunei, Cambodia, Singapore and India.

However, the circular doesn’t mention how much Brahim’s will be pumping into Burger King to revive the franchise – with plans that include selective expansion of new outlets and refurbishment of existing ones – 49 in Malaysia and 38 in Singapore.

The franchise vendor, Ekuiti Nasional Bhd (Ekuinas), had pumped in around RM58 million since it bought the Burger King franchise in 2011 for RM68.2 million – RM39.5 million in the form of loans, which were later converted into shares in the Malaysian franchise holder and another RM5 million and S$5 million (RM13.1 million) cash injection.

As at end-2013, accumulated losses amounted to RM76.37 million while losses for the nine months to Sept 30 last year stood at RM50.38 million. Net tangible assets stood at RM119.8 million at end-2013.

The deal is being positioned as a 80:20 joint venture between Brahim’s and Ahmad Zaki’s Quantum Angel Sdn Bhd valued at RM95 million, which will be up for Brahim’s shareholders’ approval on Feb 25.

Should Brahim’s shareholder not give their approval, the deal will lapse on March 31 this year if an extension is not obtained from Ekuinas and the Burger King master franchise holder from the US.

Key terms of the deal include Brahim’s not being allowed to close any existing outlets with the master franchiser’s prior approval.

Brahim’s will also have to pay US$25,000 (RM89,900) each to the master franchiser to get a 20-year licence to operate the outlets under the Burger King name.

New Post has been published on http://www.therakyatpost.com/business/2014/11/27/ekuinas-confirms-burger-king-sale/

Ekuinas confirms Burger King sale

KUALA LUMPUR, Nov 27:

Ekuinas Nasional stands to collect RM640.4 million in proceeds upon the completion of its latest divestment exercise.

The government-linked private equity fund management company is in the midst of restructuring its food and beverage (F&B) portfolio by exiting the quick service restaurant (QSR) segment.

“We are selling our Burger King portfolio for RM95 million to a bumiputera consortium led by Brahim’s Holdings Bhd.

“The selection of the consortium was made based on merit and the endorsement of BK Asiapac Pte Ltd, the master franchisor of the Burger King in the Asia Pacific.

“This exercise would enable Ekuinas and its F&B arm, Integrated Food Group Sdn Bhd (IFG), to focus on the casual dining and dessert franchise segments under various brands including Tony Roma’s,” Ekuinas said in a statement yesterday.

The casual dining and dessert franchise brands under IFG have a combined revenue of RM280.1 million with 443 outlets in Malaysia and across the region.

Ekuinas said the decision to restructure its F&B portfolio was made after a detailed review of its F&B portfolio and taking into account that QSR required  significant financial investment and operational capability.

In 2011 and 2012, Ekuinas acquired a 95% equity interest in Burger King restaurant business in Malaysia and a 100% equity interest in the business in Singapore, respectively.

New Post has been published on http://www.therakyatpost.com/business/2014/09/16/ekuinas-quiet-burger-king-franchise-stake/

Ekuinas quiet on Burger King franchise stake talks

KUALA LUMPUR, Sept 16: 

Ekuiti Nasional Bhd (Ekuinas) today said in a statement that its policy is not to comment on any of its prospective investments or divestments until they formally materialised.

Its holding statement makes no mention of the talks that Brahim’s Holdings Bhd said in its Bursa filing yesterday of its intent to buy over the Burger King franchise in Malaysia.

Brahim’s had said it “is exploring the business opportunity and engaging in preliminary discussions on buying Burger King franchise but as at to date, the company has neither concluded nor entered into any definitive  agreement relating to the above”.

In its statement today, Ekuinas said its role as a government-linked private equity (PE) firm is to invest in high growth companies, “which we aim to create and enhance its value and thereafter divest at the end of our investment period. Ekuinas’ investment horizon is typically between three and five years.

“Like any other PE firms, Ekuinas continuously explores acquisition and divestment opportunities.

“Once these investments or divestments are executed, we commit to provide material information on them in line with our practice of a full disclosure policy.”

New Post has been published on http://www.therakyatpost.com/business/2014/09/09/ekuinas-still-hungry-right-targets/

Ekuinas still hungry for right targets

KUALA LUMPUR, Sept 9:

Ekuiti Nasional Bhd (Ekuinas) is on track to achieve this year’s investment target of between RM500 million and RM600 million after recently adding two more investments into its portfolio.

Chief executive officer Datuk Abdul Rahman Ahmad today said the government-linked private equity fund management company recently concluded the takeover of Orkim Sdn Bhd and CoolBlog Sdn Bhd with a total investment of RM400 million and is looking for more private equities to be included into its portfolio.

“The deals in the pipeline for this year are looking pretty good. We’ve done about RM400 million to date, so we are hopeful to be able to hit the investment target and are looking at a number of investments in the pipeline,” he said after the launch of the Malaysian Private Equity Forum here.

Abdul Rahman said the company’s investment performance this year outperformed that of last year, mainly driven by the country’s better economic condition as well as outsourced fund management programme gathering pace.

“Malaysia’s economy in the first half of the year has been particularly very good. I think we’ve exceeded the forecast growth rate.”

Despite targeting between RM500 and RM600 million investment this year, he said the company does not put a limit cap on the figure and is wiling exceed the target if interesting opportunities come along.

“Sometime, you can’t predict investment. If there are a number of opportunities that fit our criteria, meet our guideline and offer a good growth opportunity and a good potential return, we will make the deal.”

However, he said the company maintains its investment period target for individual investment of between three to five years.

“Our fund life is about seven years, so we can own some of the investment slightly longer, but our target term investment period is from three to five years.

“We can take sufficient time to create value in the invested company, help them to grow and only then we exit to crystallise the value from the investment.”

On the outlook of Malaysia’s private equity investment, he said it still lagged behind in allocation for private equity investment among domestic institutions compared with those of western countries.

He said allocation of domestic institution for private equity investment is below 5% while the world’s average is already at between 15% and 20%.

New Post has been published on http://www.therakyatpost.com/business/2014/08/21/ekuinas-buys-orkim-coolblog/

Ekuinas buys into Orkim, CoolBlog

KUALA LUMPUR, Aug 21:

Ekuiti Nasional Bhd (Ekuinas), the government-linked private equity fund management company, has invested nearly RM400 million in Orkim Sdn Bhd and CoolBlog Sdn Bhd to further expand its oil and gas and food and beverage (F&B) portfolios.

In a statement today, Ekuinas said it invested RM346.3 million to acquire up to 95.5% stake in Orkim, Malaysia leading clean petroleum product  tanker companies.

It said the move is in line with its strategy of acquiring non-core or divestible assets of government-linked companies and public-listed companies.

“The investment in Orkim is expected to be completed by fourth quarter of 2014.”

Ekuinas said its retail F&B arm, Integrated Food Group Sdn Bhd, has invested RM50.8 million for 60% equity in CoolBlog, a homegrown franchised desserts and beverages specialist.

New Post has been published on http://www.therakyatpost.com/business/2014/05/29/icon-ipo-rm1-80-per-share/

Icon IPO from RM1.80 per share

KUALA LUMPUR, May 29:

Icon Offshore Bhd, whose ships offer support services to oil platforms, will raise RM919-945 million from its listing after setting the price range at RM1.80-1.85 per share, IFR reported today.

Bookbuilding will start tomorrow and continue for a week, according to IFR, a Thomson Reuters publication. The price range implies a 2015 price-to-earnings ratio of 13-15 times, IFR added.

Icon, part of Malaysian government-linked private-equity fund Ekuiti Nasional Bhd (Ekuinas), plans to add to its fleet of 32 ships and repay debt using funds raised through the initial public offering (IPO).

The offshore support vessel company plans to sell up to 510.6 million shares – 324.7 million to domestic and foreign institutional investors, 135.3 million to bumiputera institutional investors, and 50.6 million to individual investors, according to a draft prospectus filed on March 26.

Around nine cornerstone investors are expected to take up most of the institutional offer, on which there is a six-month lock-up period, IFR reported.