Dubai Group, the investment vehicle of the emirate’s ruler, has opted out of a capital-raising exercise by a Malaysian bank that would have required a US$62 million (Dh227.7m) commitment.
The Dubai Holding unit, which has a 40 per cent stake in Bank Islam Malaysia, said it would instead focus more on its home region.
“Following the reassessment of its investment strategy, Dubai Group has redirected its competitive advantage closer to home, namely the GCC and greater Middle East regions,” Dubai Group said in a statement. “Malaysia does remain a key market for future investments.”
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