KUALA LUMPUR (July 20): Ekuiti Nasional Bhd (Ekuinas) has named Tan Sri Shahril Ridza Ridzuan to succeed Tan Sri Raja Arshad Raja Tun Uda, who stepped down from the role of independent non-executive chairman of the government-linked private equity firm on July 18.

In a statement, Ekuinas said Raja Arshad, the firm's inaugural chairman, is leaving after steering the firm since 2009. Shahril, meanwhile, is currently the firm's independent non-executive director, a role he held since October last year.

Shahril is also currently the chairman of Axiata Group Bhd and Iskandar Waterfront Holdings Sdn Bhd, as well as a non-executive board member of Kuala Lumpur Kepong Bhd.

“I am proud of what we have achieved together and confident that Ekuinas will continue to thrive under the leadership of Tan Sri Shahril Ridza Ridzuan. I wish the team every success in both their financial and social commitments," said Raja Arshad.

Under Raja Arshad’s tenure as its first chairman, Ekuinas accumulated a total investment portfolio of 42 companies through both direct investments and outsourced fund managers, with total capital deployed exceeding RM5.1 billion.

Some of Ekuinas’ past and current investments include APIIT Education Group, Tenby Schools, Al-Ikhsan Sports Sdn Bhd, Icon Offshore Bhd, and Orkim Sdn Bhd.