Sets Sights on 2007 Opportunities

Dubai, United Arab Emirates, February 18th, 2007: Al Mal Capital PSC, a multi-line investment bank licensed by the Central Bank of the UAE, today unveiled its 2006 results and growth plans for the coming year.  

To close 2006, Al Mal Capital's first full year of operation, the company reported assets under management of nearly AED 800 million, Fee-Based Revenue of over AED 22 million and Net Earnings of AED 8.5 million.  The company headcount after one year totalled over 35 professionals on staff.

According to Executive Chairman Naser Nabulsi, "Our team of experienced bankers have accomplished a tremendous amount in our inaugural year.  From setting out an operating platform, establishing procedures and policies to an international standard, to developing our individual business lines and launching several noteworthy products, accounts and services - we have travelled a significant distance in a relatively short period of time.  In the context of our plans, however, we have only begun to make our presence felt."

Al Mal Capital introduced some high profile and notable companies to the regional markets through its Investment Banking unit in 2006, as commented on by Salvatore Alioto, Head of Investment Banking at Al Mal: "It's fair to say that we are now established as an innovative player in the regional investment banking space.  The IPO for Tameer, the pre-eminent Real Estate company in Jordan, put us on the map; we followed with Emcor, the Fortune 500 group whom we assisted in setting up a Middle East structure for their business, including placing capital for the regional parent and 6 regional subsidiaries; and have also successfully arranged investments in companies such as Madaares, Manazel and Depa: all set to become leaders in their respective industry sectors."

The company's licensed Brokerage activities now include both the UAE and Saudi Arabia, with Al Mal becoming the first GCC group outside Saudi to receive permission from the Saudi authorities to operate in the country.  Those two market capabilities will serve as the basis for Al Mal's Prime Brokerage account, the Investment Management Account, which will provide institutional clients the ability to hold and leverage various financial assets, trade across regional markets and also operate on a global basis.

In Asset Management, the unit's Head, Blair Look, gave an indication of progress on product development in 2006 and in future: "From the UAE Equity Fund, the premier performing local equity fund in the country since inception, to the Real Estate Fund, our flagship fund in the property market, to our newly introduced UAE FALCON Index and upcoming FALCON Exchange Traded Fund, it's been a full year of launches and unique, high quality offerings.  We are expecting a continuing stream of new and exciting products in 2007."

Nabulsi added, "There remains much to accomplish, but as witnessed by the pace of our development, it is clear that we will be having an impact on the regional investment banking landscape in 2007 and beyond".  He concluded, "We recognize that investors demand improvement in service delivery, and that standards need to be raised.  Companies and investors require solutions to the challenges they confront, as issuers and as consumers of product.  We intend to respond to those demands - and we understand from experience what it takes to win business and keep customers happy".

-Ends-

Issued on behalf of Al Mal Capital by tamra C2 For further press information please contact
Khalil Majdalawi
Tel. (971) 4 2951177;
Fax: (9714) 2951188.
E-mail: khalil@tamra-c2.com 

© Press Release 2007