In a statement, Ekuinas said this marks the government-linked private equity company’s second investment under its RM100 million Dana Asas fund, which is targeted at high-growth mid-market Bumiputera companies.

Ekuinas CEO Syed Yasir Arafat Syed Kadir said Mizou offers innovative solutions for the niche upstream palm oil industry, with potential expansion into other agricultural sectors.

“We deeply value the founders’ vision, capabilities and determination to enhance productivity in the upstream palm oil plantation value chain and are proud to collaborate with them in this endeavour,” he said.

Syed Yasir noted the industry trend towards mechanisation, driven by increasing demand from local and regional players seeking to improve productivity and reduce production costs.

He said Mizou’s successful commercialisation of their tractors and endorsement from key plantation players demonstrate both the product’s viability and promising prospects.

Meanwhile, Mizou managing director Shamshuri Majid said Ekuinas’s investment would strengthen the company’s position as a provider of palm oil plantation machinery suitable for various terrains.

“Given the evolving needs of the palm oil sector, we anticipate benefitting from the growing adoption of mechanised equipment by local and regional plantation players,” he added.

Since its establishment in 2001, Mizou has developed and commercialised 11 specialised tractor variants designed for the infield fresh fruit bunch collection.

These tractors are tailored to navigate diverse palm oil plantation terrains, including peat soil, terraced and hilly areas, as well as flat and undulating land.