October 10, 2019
Ekuiti Nasional Bhd (Ekuinas) is conducting due diligence on frozen processed meat manufacturer PrimaBaguz Sdn Bhd in a bid to realize its investment. The government-owned private equity company acquired PrimaBaguz for USD 9.56 million under its Direct (Tranche II) Fund in 2013. It is reported that Ekuinas intends to monetize the company via either a partial or total divestment, or through an initial public offering. PrimaBaguz supplies sausages, patties and cold cuts to quick-service restaurants, hotels, restaurants and caterers that serve entities such as AirAsia, Genting Group, TGV Cinemas and Golden Screen Cinemas.