Bahrain's Mumtalakat FY loss rises on Gulf Air, Alba-document | Reuters

Bahrain's sovereign wealth fund Mumtalakat Holding's full-year net loss in 2009 more than doubled due to higher losses at its portfolio companies Gulf Air [GULF.UL] and Aluminium Bahrain [ALNUB.UL], a document showed.

Mumtalakat, which bundles Bahrain's non-oil state-owned companies, said in an investor presentation reviewed by Reuters that its 2009 net loss was $487.2 million, compared with a loss of $184.3 million in 2008.

It said Gulf Air's full-year loss rose 21 percent to $502.9 million last year, while Aluminium Bahrain (Alba), in which it owns a 77 percent stake, swung to a full-year net loss of $220.7 million, compared with a profit of $781.9 million in 2008.