Dubai Investments (DI), one of the largest diversified holding companies in the UAE, said it incurred losses on its investment portfolio due to mark-to-market requirements but has "prudently" managed the challenging market conditions of 2008 and expects growth in 2009.
The mark-to-market accounting rules set asset values as per the prevailing market prices.
DI's interests range from dairy products to glass production and real estate development. It made a profit of Dh1.58 billion in 2008 with total income of Dh4.36 billion.
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