Mumtalakat 2017 Annual Report

Year
in review

KEY

MILESTONES

L
I
N
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  • MAR
  • APR
  • MAY
  • JUN
  • JUL
  • AUG
  • SEP
  • OCT
  • NOV
  • DEC
March 1, 2017

March

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In a partnership with Arcapita, we acquired a portfolio of income-generating logistics assets in Dubai, UAE. The new portfolio comprises up to 10 warehousing facilities occupying a total built-up area in excess of 1.2 million square feet, primarily in Dubai Investments Park.

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April 11, 2017

April

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Mumtalakat retained a minority stake in PRO Unlimited after signing an agreement with Investcorp to sell shares to Harvest Partners. Pro Unlimited purchased in October 2014 has continued to grow with net revenues increasing by over 40% & Earnings before Interest, Tax, Depreciation & Amortization have almost doubled.

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April 13, 2017

April

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Mazad was established by Mumtalakat as a Bahraini company responsible for conducting and organising auctions in collaboration with internationally renowned auction houses.

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April 30, 2017

April

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Through Mumtalakat’s co-investment agreement with RDIF, Mumtalakat acquired a stake in PhosAgro, Europe’s largest producer of phosphate-based fertilizers and the world’s largest producer of high-grade phosphate rock.

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May 31, 2017

May

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A stake of Transneft was acquired via Mumtalakat’s co-investment programme with RDIF. Transneft is the largest pipeline company in the world, operating the Russian oil and oil-product trunk pipelines network.

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March 1, 2017

May

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Mumtalakat purchased a significant minority stake in Axtmann Aviation Holding GmbH that operates FAI Aviation Group (FAI), a leading global provider of mission-critical aviation services, offering fixed-wing air ambulance, special missions, charter and aircraft management in addition to full MRO services.

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May 21, 2017

May

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A new Board of Directors for the Gulf Air Group Holding Company was appointed by Mumtalakat. The Board is under the Chairmanship of HE Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications.

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May 20, 2017

May

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Mumtalakat then assigned the new Board of Directors of the Kingdom’s national carrier, Gulf Air, chaired by HE Zayed bin Rashid Al Zayani, Minister of Industry, Commerce and Tourism.

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June 1, 2017

June

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The audited consolidated financial results for 2016 were released with solid profits reported.

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July 1, 2017

July

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Alongside RDIF, Mumtalakat acquired a stake in Polyus, the largest gold producer in Russia and one of the top 10 gold producers in the world.

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August 1, 2017

August

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With the completion of GARMCO’s expansion plans, the company produced its first aluminium successfully following its planned production schedule. The expansion was part of a 3-year programme which aims to enable GARMCO to consolidate and expand its key strategic sales markets with higher recycle content aluminium alloys.

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September 10, 2017

September

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Under the Chairmanship of HE Sh. Khalid bin Abdulla Al Khalifa, the Deputy Prime Minister, Mumtalakat’s Board agreed that the company will contribute profits of BD20 million to the National Budget for 2 consecutive years, distributed equally for 2017 & 2018, in addition to the continued pursuit of a number of investments in and out of Bahrain.

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September 12, 2017

September

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As part of the co-investment programme with RDIF, Mumtalakat acquired a stake in Northern Capital Gateway, the operator of Pulkovo Airport. The airport is the 4th largest in Russia and the only operating airport in St. Petersburg.

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September 29, 2017

September

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Mumtalakat’s General Counsel was named for a second time on The Legal 500’s GC Powerlist: Middle East 2017. The Legal 500 is a respected international legal periodical, that recognises top legal professionals.

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October 1, 2017

October

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Mumtalakat partnered with Arcapita to acquire an approximately 90% stake in NAS United Healthcare Services, a prime GCC provider of outsourced health insurance processing services.

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October 20, 2017

October

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In line with the Kingdom’s national plan to revive the pearling industry in Bahrain, as announced by HRH the Crown Prince at the 2017 Government Forum, Mumtalakat established the Bahrain Institute for Pearls and Gemstones (DANAT) which aims to become the world’s preferred partner for natural pearl and gemstone third party verification services.

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November 1, 2017

November

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Mumtalakat launched an award scheme to commemorate employees’ efforts, dedication and contribution to national growth across its local companies. This was supplemented by a campaign, “Many stories, one Bahrain,” which brings forth the stories of the many extraordinary individuals who help make their companies and communities more successful.

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December 30, 2017

December

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With the culmination of the Many Stories, One Bahrain campaign, outstanding individuals within Mumtalakat’s local portfolio companies were presented with a special commemorative award in a dedicated ceremony.

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December 4, 2017

December

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One of Mumtalakat’s co-investments with RDIF in 2017 was an investment in Russia’s second largest leading Full Truck Load trucking operator, Global Truck.

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December 5, 2017

December

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A new Board of Directors at Bahrain Real Estate Investment (Edamah) was appointed under the Chairmanship of Khaled Al Rumaihi.

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December 1, 2017

December

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In another partnership agreement involving Arcapita, Mumtalakat acquired Dubai Industrial Portfolio which consists of a portfolio of light industrial warehouse assets in Dubai Investment Park and Jabal Ali Free Zone, United Arab Emirates.

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December 15, 2017

December

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Bahraini Women’s Day was celebrated with a debate on women in the workplace and leadership in which Mumtalakat hosted local female leaders within its Bahrain-based portfolio. Bahraini Women’s Day is an initiative of the Supreme Council for Women to highlight the achievements and participation of Bahraini women in society.

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