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H.H. Sheikh Hamdan bin Rashid chairs the 3rd annual general meeting of Dubal Holding 26 April 2017
26th April, 2017 – H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, and the Chairman of the Dubal Holding (DH), chaired the third annual general meeting of Dubal Holding, the investment arm for the Government of Dubai in power, commodities, mining and industrial sectors.
During meeting that held at the Dubai Ruler's Court, H.H. Sheikh Hamdan announced that DH recorded a net profit of AED1.04 billion during 2016, an increase of around 10 per cent over 2015 net profit, and had AED 18.6 billion of net assets at the year end.
H.H. Sheikh Hamdan bin Rashid was presented with an update on the latest developments in the integration of mining, refining and smelting at Emirates Global Aluminium, EGA, the aluminium conglomerate equally owned by DH and MDC Industry Holding Company LLC, MDCI. The update covered the impressive financial results achieved in 2016, and the progress achieved by its alumina refinery investment at Al Taweelah, the development of the bauxite mining in the Republic of Guinea in West Africa, beside the current and under study projects in mining and commodities.
Saeed Mohammed Al Tayer, Vice Chairman, said: “DH has always played a key role in supporting and diversifying the national economy and contributing to a bright future in the UAE and the Emirate of Dubai through extremely prudent and highly disciplined investments in the identified business segments that would guarantee decent and satisfactory level of return on investment for its shareholder and business partners”.