Ekuiti invests in Revenue Valley Group

Ekuiti Nasional Bhd (Ekuinas), the government-linked private equity fund
management company, today said that it had invested RM64.7 million for
85.76 per cent interest in Revenue Valley Group, a fast growing food and
beverage (FandB) group in Malaysia and Singapore.

Ekuinas said in a statement that the investment in Revenue Valley Group
involved the acquisition of the existing stake, repayment of shareholders'
advances
predominantly from Sweet Benefit Sdn Bhd and Creative Goal Sdn Bhd,
which are the existing financial investors in the company, and an
additional capital injection into the group to finance an aggressive
outlet expansion programme.

The proposed investment is subject to fulfillment of conditions precedent
and is expected to be completed by the first quarter of this year.

Revenue Valley Group currently owns and operates Manhattan Fish Market, a
popular fast casual dining seafood restaurant; the Malaysian franchise of Tony
Roma's, a casual full service restaurant (FSR) famous for ribs and steaks; and
the
Malaysia and Singapore franchises of Popeyes, the fast growing quick
service restaurant (QSR) chain serving fried chicken and seafood.

The Group was founded in 2002 by George Ang and Dickson Low, both of whom
will remain as minority shareholders of the company.

It has grown significantly over the years to reach 47 outlets across the
three brands and recorded total revenue of nearly RM100 million for the
financial year ended Sept 30 2010.

Ekuinas chairman Raja Tan Sri Arshad Raja Tun Uda said the investment in
the Group has provided further impetus to Equinas' plan to build one of
Malaysia's leading FandB groups with a diversified portfolio of investments across
multiple brands.

"With more than 20 outlets in Singapore and Thailand, Revenue Valley Group
provides us with immediate regional presence that can be leveraged for expansion in the future," he said.

Ekuinas chief executive officer Datuk Abdul Rahman Ahmad said with five
brands under Equinas' FandB Group, it is ideally positioned to capitalise on the
benefits of potential synergies across outlet development, marketing and
communication, and other back office operations.

The investment in Revenue Valley Group brings the number of Ekuinas'
investments to eight. Inclusive of this transaction, committed investments by
Ekuinas total RM659.64 million and, together with private co-investments,
Ekuinas has facilitated a total economic capital deployment of RM779.28 million
into the Malaysian economy. -- Bernama