Abu Dhabi's Waha Capital swung to a second quarter net loss, the company's financial statement showed, as provisions on assets and loans weighed on the balance sheet.
Waha, whose shareholders include Abu Dhabi government entities, posted a 12.4 million dirhams ($3.4 million) loss for the three months to June 30, against a net profit of 6 million dirhams in the second quarter of 2011.
"The decline was driven mainly by a one-off gain on sale of investment in first half of 2011 and provisions taken on some assets in the first half of this year," the statement said.
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