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Monday, 22 March 2010

Mubadala 2009 revenue leaps,investments rise

Abu Dhabi government investment body Mubadala Development Company saw revenue nearly double in 2009 on income from key projects and changes in fair value of investments.

Mubadala, one of the few state-controlled investment vehicles to publish results, said on Monday it could repeat its 2009 performance in 2010 after its assets grew to 88.5 billion UAE dirhams ($24.10 billion) end-2009.

Total revenue at the firm, which invests in projects in part to diversify Abu Dhabi's energy-intensive economy, almost doubled to 13.1 billion dirhams in 2009 compared to 6.66 billion dirhams in 2008 while total comprehensive income hit 8.6 billion dirhams.