KUALA LUMPUR (March 27): Ekuiti Nasional Bhd, Malaysia’s state-owned private equity firm also known as Ekuinas, said its chief executive officer Datuk Syed Yasir Arafat Syed Abd Kadir will step down on March 31.

In line with the company’s long-term leadership succession planning, Aliff Omar Mohamad Omar, currently senior director of investment, will assume the role of acting chief executive officer, Ekuinas said in a statement. Aliff Omar will take over on April 1, the company said.

“The board has every confidence in Aliff’s ability to steer Ekuinas into its next phase of growth, while representing the core values of the firm,” said Ekuinas chairman Tan Sri Shahril Ridza Ridzuan.

The statement confirms The Edge’s earlier report on Wednesday, on the change in leadership at Ekuinas.

Syed Yasir has been with Ekuinas for 15 years, including nine years as CEO, managing RM4.0 billion in funds and deploying RM5.6 billion investments into 28 companies. He also led the creation of Dana Asas, a Bumiputera-focused fund, and introduced private credit as a new investment asset class.

“Together with an exceptional team, we’ve built a resilient platform that not only delivers value, but drives inclusive, long-term impact for Malaysia,” Syed Yasir said. “I’m incredibly proud of what we’ve accomplished.”

Aliff Omar, meanwhile, joined Ekuinas in 2017 and has been working closely with Syed Yasir on strategy and value creation, Ekuinas noted. He has more than 16 years of experience in corporate finance, merger and acquisition, and capital markets, and led several deals across Southeast Asia.

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