Abu Dhabi-listed Waha Capital posted a higher profit during the first nine months of this year, helped by the performance of its emerging markets credit and equity funds divisions.
The company earned a net profit of Dh297 million ($80.8m) in the nine months to the end of September, compared to Dh59m during the same period last year, it said in a statement on Sunday to the Abu Dhabi Securities Exchange, where its shares are traded.
"The company benefits from a strong balance sheet and a robust governance structure that provides confidence not only to shareholders but also to business partners, and third-party investors," said Waleed Al Muhairi, chairman of Waha Capital.
"On this solid platform, Waha Capital has built an industry leading public markets business that continues to gain global recognition for differentiated fund strategies and consistent market outperformance. The private Investments business is also strengthening, with an experienced investment team now in place that will leverage international business networks capital in an agile manner."
Waha Capital, which counts Mubadala Investment Company among its shareholders, embarked on a turnaround strategy in 2019 to further improve its performance.
The company's positive financial performance this year "reflects our successful transition from implementation of a turnaround strategy to a new phase of growth”, said Ahmed Al Mehairi, chief executive of Waha Capital.
The company's public markets division, which manages emerging markets credit and equity funds, registered investment gains and fee income worth Dh429m. Waha Capital had $1 billion worth of assets under management during the period.
Meanwhile, the private investments business produced a net income of Dh1m owing to the "market volatility impacting certain sectors within the portfolio" as a result of the pandemic.
"Waha Capital has delivered a solid return during the first nine months of this year, successfully navigating a tough global macro-economic environment and increased capital markets volatility in recent months," said Mr Al Mehairi.
The company's third-quarter net profit slid to Dh32m. Waha Capital also completed divesting its stake in Deem Finance during this period.
Brief scores:
Toss: Pakhtunkhwa Zalmi, chose to field
Environment Agency: 193-3 (20 ov)
Ikhlaq 76 not out, Khaliya 58, Ahsan 55
Pakhtunkhwa Zalmi: 194-2 (18.3 ov)
Afridi 95 not out, Sajid 55, Rizwan 36 not out
Result: Pakhtunkhwa won by 8 wickets
Kanye%20West
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MATCH INFO
Championship play-offs, second legs:
Aston Villa 0
Middlesbrough 0
(Aston Villa advance 1-0 on aggregate)
Fulham 2
Sessegnon (47'), Odoi (66')
Derby County 0
(Fulham advance 2-1 on aggregate)
Final
Saturday, May 26, Wembley. Kick off 8pm (UAE)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
MATCH INFO
Who: France v Italy
When: Friday, 11pm (UAE)
TV: BeIN Sports
The specs: 2018 Ford F-150
Price, base / as tested: Dh173,250 / Dh178,500
Engine: 5.0-litre V8
Power: 395hp @ 5,000rpm
Torque: 555Nm @ 2,750rpm
Transmission: 10-speed automatic
Fuel consumption, combined: 12.4L / 100km
Last-16
France 4
Griezmann (13' pen), Pavard (57'), Mbappe (64', 68')
Argentina 3
Di Maria (41'), Mercado (48'), Aguero (90 3')
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
Scoreline
Germany 2
Werner 9', Sane 19'
Netherlands 2
Promes 85', Van Dijk 90'
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
The biog
Age: 32
Qualifications: Diploma in engineering from TSI Technical Institute, bachelor’s degree in accounting from Dubai’s Al Ghurair University, master’s degree in human resources from Abu Dhabi University, currently third years PHD in strategy of human resources.
Favourite mountain range: The Himalayas
Favourite experience: Two months trekking in Alaska
THE DETAILS
Kaala
Dir: Pa. Ranjith
Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar
Rating: 1.5/5
Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
Favourite Hobby: Serving poor people
Favourite Book: The Alchemist by Paulo Coelho
Favourite food: Fish and vegetables
Favourite place to visit: London
More from Neighbourhood Watch:
Saturday's schedule at the Abu Dhabi Grand Prix
GP3 race, 12:30pm
Formula 1 final practice, 2pm
Formula 1 qualifying, 5pm
Formula 2 race, 6:40pm
Performance: Sam Smith
