SapRes/SapInd
What’s Up? … dated Nov 2010
Ekuinas is moving into the RM7.2 billion private education sector with its acquisition of a 51% stake in an integrated education provider APIIT/UCTI Education Group for RM102 million.
Ekuinas was acquiring the stake in APIIT/ Asia Pacific University College of Technology and Innovation (UCTI) Education Group from Sapura Resources Bhd
Ekuinas inked a share sale agreement with Sapura Resources to acquire the 51% for RM102 million, which hinges on the approval of Sapura Resources shareholders at an EGM to be held later and the completion of final due diligence.
This proposed investment provides the ideal entry for Ekuinas to move into the fast-expanding private education sector currently estimated at RM7.2 billion.
This is Ekuinas’ fourth investment in 2010. Its three other investee companies are Alliance Cosmetics Group, TGOFFs and Konsortium.
The APIIT/UCTI Education Group provides an ideal investment platform for Ekuinas given its highly experienced management team with a strong track record of delivering growth and its established market position as a quality education provider.
APIIT/UCTI Education Group is profitable, with combined revenue growing at more than 40% per annum over the last three years, to hit RM83 million for the year ended Jan 31, 2010.
Ekuinas CEO Datuk Abdul Rahman Ahmad said the proposed investment in APIIT/UCTI Education Group provides an opportunity for Ekuinas to enhance equitable Bumiputera participation within the Malaysian private education sector.
To recap in Aug 2011 it is one of the parties interested in acquiring Khazanah Nasional Bhd’s 32% stake in POS.
Sapura has three listed united – Sapura Industrial Bhd, Sapura Crest Petroleum Bhd and Sapura Resources. Sapura’s primary expertise is in O&G.
It is understood that Sapura is due in part to the fact that Sapura has plans to turn POS Malaysia into a translogistics company. However, the real allure of POS may lie in its landbank, which an industry observer say is probably the driving force behind many bids.
Sapura’s Shahril and his family are also said to be close friends of Najib. Sources said that the Shamsuddin family has persevered through many prime ministers. And there is also a business link. Many years ago, a unit of the Sapura Group had produced portable radios for Mindef. Najib was previously Defence Minister.
Ekuinas is moving into the RM7.2 billion private education sector with its acquisition of a 51% stake in an integrated education provider APIIT/UCTI Education Group for RM102 million.
Ekuinas was acquiring the stake in APIIT/ Asia Pacific University College of Technology and Innovation (UCTI) Education Group from Sapura Resources Bhd
Ekuinas inked a share sale agreement with Sapura Resources to acquire the 51% for RM102 million, which hinges on the approval of Sapura Resources shareholders at an EGM to be held later and the completion of final due diligence.
This proposed investment provides the ideal entry for Ekuinas to move into the fast-expanding private education sector currently estimated at RM7.2 billion.
This is Ekuinas’ fourth investment in 2010. Its three other investee companies are Alliance Cosmetics Group, TGOFFs and Konsortium.
The APIIT/UCTI Education Group provides an ideal investment platform for Ekuinas given its highly experienced management team with a strong track record of delivering growth and its established market position as a quality education provider.
APIIT/UCTI Education Group is profitable, with combined revenue growing at more than 40% per annum over the last three years, to hit RM83 million for the year ended Jan 31, 2010.
Ekuinas CEO Datuk Abdul Rahman Ahmad said the proposed investment in APIIT/UCTI Education Group provides an opportunity for Ekuinas to enhance equitable Bumiputera participation within the Malaysian private education sector.
To recap in Aug 2011 it is one of the parties interested in acquiring Khazanah Nasional Bhd’s 32% stake in POS.
Sapura has three listed united – Sapura Industrial Bhd, Sapura Crest Petroleum Bhd and Sapura Resources. Sapura’s primary expertise is in O&G.
It is understood that Sapura is due in part to the fact that Sapura has plans to turn POS Malaysia into a translogistics company. However, the real allure of POS may lie in its landbank, which an industry observer say is probably the driving force behind many bids.
Sapura’s Shahril and his family are also said to be close friends of Najib. Sources said that the Shamsuddin family has persevered through many prime ministers. And there is also a business link. Many years ago, a unit of the Sapura Group had produced portable radios for Mindef. Najib was previously Defence Minister.
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