Government-linked private equity fund management company Ekuiti Nasional Bhd (Ekuinas) has acquired a 35 per cent stake in Al-Ikhsan Sports Sdn Bhd for RM68.6 million.

The investment in the leading Bumiputera sportswear retailer marks Ekuinas' entry into the sports retail segment, extending its retail portfolio beyond the current food & beverage (F&B) companies.

"The Malaysian sports retail industry is expected to grow eight per cent annually to reach RM2 billion by 2020 in Malaysia alone, while in neighbouring countries such as Singapore, Indonesia and Thailand, it is expected to grow past the RM13 billion mark in the same period," Ekuinas said in a statement.....

Source: BERNAMA