PETALING JAYA: Ekuiti Nasional Bhd’s (Ekuinas) financial results for the financial year ended Dec 31, 2020 (FY20) demonstrated resiliency in delivering value to its portfolio companies while executing its mandate despite the volatile economic environment.

       It said Ekuinas Direct (Tranche II) Fund recorded a gross portfolio return of RM571.2mil, generating a gross internal rate of return (IRR) of 11.9% per annum and a net IRR of 8.2%.

       Ekuinas Direct (Tranche III) Fund recorded a gross portfolio loss of RM75.4mil, translating to a negative gross IRR of 3.2% per annum, it said

       The performance of Fund III improved 7.6% as compared to 2019, reflecting stringent and comprehensive value creation plans that were put in place for the respective portfolio companies to preserve businesses, restore competitiveness and execute turnarounds in their operational and financial performance, it said in a statement.

       As of FY20, Ekuinas’ total cumulative investment stood at RM4.4bil which comprised investments in 42 companies. ―Bernama