https://adgully.me/post/2102/dubais-knowledge-fund-establishment-launches-strategic-plan-2023-2025

Dubai’s Knowledge Fund Establishment launches Strategic Plan 2023-2025

Dubai: The Knowledge Fund Establishment in Dubai has launched its Strategic Plan 2023-2025 focused on further enhancing the emirate’s status as a leading hub for knowledge investments in the region. The Plan is aligned with Dubai’s future growth aspirations and its efforts to drive sustainable economic development, harness talent and foster innovation.The 2023-25 Strategic Plan’s objectives are guided by its vision statement ‘Leading Investment in Knowledge’ and its mission statement ‘Develop and Maintain a Sustainable Investment Portfolio to Support the Growth of the Knowledge Sector in Dubai’.The Plan revolves around three main themes- investment portfolio sustainability, educational asset allocation and educational initiatives management. Under the first theme of investmentportfolio sustainability, the Knowledge Fund Establishment aims to develop an investment portfolio that helps enhance the sustainability and diversification of investment sources. The investment portfolio will support educational initiatives in the emirate and help develop its educational system.Under the second theme, educational asset allocation, the Establishment seeks to enhance investment opportunities in the education and knowledge sector and further attract investors from around the world. The Establishment seeks to create a compelling value proposition for investments in the emirate’s educational assets, including lands and facilities designated by the government to meet the education sector’s needs and achieve the emirate’s strategic objectives.Under the third theme of the new strategy, educational initiatives management, the Knowledge Fund Establishment seeks to establish a competitive educational environment that encourages creativity and innovation and enables various segments of the community – including students, parents, and teaching staff – to benefit from the unmatched opportunities offered through the educational initiatives and projects that the Establishment is a part of, including Dubai Schools and the Mohammed Bin Rashid Distinguished Students Program. The Establishment will play a pivotal role in strengthening the emirate’s attractiveness for education service providers by making it easier for them to take advantage of the government’s initiatives.His Excellency Ahmed Abdul Karim Julfar, Chairman of the Knowledge Fund Establishment, said: “The Knowledge Fund Establishment’s new strategy is in line with the vision and aspirations of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, to further enhance the emirate’s educational sector and boost its competitiveness. To achieve this, we strive to enhance knowledge and educational investment opportunities, develop a sustainable investment portfolio, and harness its revenues to support the growth of the education sector in the emirate.”Abdulla Mohammed Al Awar, CEO of the Knowledge Fund Establishment, said: “Since its establishment in 2007, the Knowledge Fund Establishment has worked to fulfil the goals of theleadership to create a robust educational environment that supports the growth of the knowledge economy. With the launch of our new Strategic Plan, we will collaborate with our partners in the government and private sectors to enhance the positive impact of educational initiatives and projects designed to raise the capabilities of all segments of Dubai’s community.”“Based on our participatory approach, we are keen to involve all stakeholders in the process of developing the new strategy and designing initiatives and projects,” Al Awar added. “We firmly believe in the importance of engaging these parties, who are a central part of the new Strategic Plan. We look forward to working with all of our partners to implement its objectives.”
https://adgully.me/post/1952/multiply-group-reports-net-profit-excluding-fair-value-gains

Multiply Group Reports Net Profit Excluding Fair Value Gains

Dubai: Multiply Group, an Abu Dhabi-based investment holding company, reported a net profit excluding fair value gains (losses) of AED 266 million, a 241% growth compared to the same period last year. The Group generated AED 303 million of dividends from its public market portfolio.Notably, revenue from its operating business reached AED 269 million during Q1, an 11.6% growth year-on-year with over 50% gross margin. This reflects the Group’s continued focus on building its verticals.Fair Value Losses of AED 265 million were incurred in Q1. It is imperative to note that these fair value changes are largely unrealised, and the short-term movements do not impact the Group’s long-term view of these assets. From a total invested amount of AED 12.6 billion, the Group’s current public market portfolio stands at over AED 33 billion, a 166% appreciation. Multiply Group’s investment portfolio is a key part of its asset base, and it has been an important growth driver.Multiply Group sees more value accretive acquisition opportunities emerge globally across its operating verticals and investment arm. The Group has a strong cash flow position with over AED 1.2 billion, very healthy debt to equity and debt to assets parameters, and access to over AED 6 billion in financing capacity. In parallel, across operating businesses several measures including tech infusion, bolt-on acquisitions are being lined-up to enhance organic growth. Multiply Group is well-positioned and focused on generating a more robust and sustainable EPS growth.Q1 2023 highlightsEmirates Driving Company launched the first test of Auve Tech’s autonomous vehicles in the Middle East, which will significantly strengthen and improve Abu Dhabi’s mobility sector. The new partnership symbolises EDC’s growing focus on smart mobility systems and its contribution to making Abu Dhabi a smarter, safer and more sustainable city. EDC also held its second engaging edition of the ‘EDC - Innovation Lab' with a selected group of external experts, partners and the company’s professionals to discuss various topics about the future of mobility under the theme of ‘Future Mobility: Where To’.Omorfia Group, which comprises personal care and beauty companies, expanded its Bedashing Beauty Lounge brand reaching 23 locations with the opening of two new branches, one in Al Taif entering Fujairah market and another one in Al Jada, its second branch in Sharjah. More recently, Omorfia Group opened the 9th branch of Jazz Lounge Spa in Port de la Mer, Dubai.International Energy Holding’s Kalyon Enerji commenced operations of the Kalyon Karap?nar Solar Plant after receiving the certificate of acceptance of the final section of the power plant, issued by the Ministry of Energy and Natural Resources (MENR) in Turkey. Kalyon Enerji also received a development impact assessment from J.P. Morgan’s Development Finance Institution for the Kalyon Karap?nar Solar Power Plant and has set a series of development objectives that are expected to advance four of the United Nations Sustainable Development Goals (SDGs): SDG #7: Affordable and Clean Energy, SDG #8: Decent Work and Economic Growth, SDG #13: Climate Action and SDG #15: Life on Land. The company also started development of 390 MW Solar - ANKA Project, 200 MW Wind - STORM Project, and 1 GW YEKA Wind Project (Kalyon shareholding 40%).Meanwhile, Viola Communications, a fully-integrated marketing and communications solutions provider successfully arranged and managed multiple big scale events, such as ADAA’s International Ethical Standards Board for Accountants (IESBA) under the theme "Building the Ethical Foundations for Sustainability”, the launch of Sea La Vie - a luxurious residential project at Yas Bay that will be developed by Nine Yards, and the open-air art gallery, DIFC Sculpture Park, featuring immersive experiences and artworks from over 70 local and international artists at DIFC.Inclusion In IndicesThe quarter saw the Group being upgraded from Mid Cap Index to Large Cap Index in FTSE Global Equity Index Series (FTSE GEIS) in its March 2023 semi-annual review.
https://adgully.me/post/1951/multiply-group-reports-net-profit-excluding-fair-value-gains

Multiply group reports net profit excluding fair value gains

Dubai: Multiply Group, an Abu Dhabi-based investment holding company, reported a net profit excluding fair value gains (losses) of AED 266 million, a 241% growth compared to the same period last year. The Group generated AED 303 million of dividends from its public market portfolio.Notably, revenue from its operating business reached AED 269 million during Q1, an 11.6% growth year-on-year with over 50% gross margin. This reflects the Group’s continued focus on building its verticals.Fair Value Losses of AED 265 million were incurred in Q1. It is imperative to note that these fair value changes are largely unrealised, and the short-term movements do not impact the Group’s long-term view of these assets. From a total invested amount of AED 12.6 billion, the Group’s current public market portfolio stands at over AED 33 billion, a 166% appreciation. Multiply Group’s investment portfolio is a key part of its asset base, and it has been an important growth driver.Multiply Group sees more value accretive acquisition opportunities emerge globally across its operating verticals and investment arm. The Group has a strong cash flow position with over AED 1.2 billion, very healthy debt to equity and debt to assets parameters, and access to over AED 6 billion in financing capacity. In parallel, across operating businesses several measures including tech infusion, bolt-on acquisitions are being lined-up to enhance organic growth. Multiply Group is well-positioned and focused on generating a more robust and sustainable EPS growth.Q1 2023 highlightsEmirates Driving Company launched the first test of Auve Tech’s autonomous vehicles in the Middle East, which will significantly strengthen and improve Abu Dhabi’s mobility sector. The new partnership symbolises EDC’s growing focus on smart mobility systems and its contribution to making Abu Dhabi a smarter, safer and more sustainable city. EDC also held its second engaging edition of the ‘EDC - Innovation Lab' with a selected group of external experts, partners and the company’s professionals to discuss various topics about the future of mobility under the theme of ‘Future Mobility: Where To’.Omorfia Group, which comprises personal care and beauty companies, expanded its Bedashing Beauty Lounge brand reaching 23 locations with the opening of two new branches, one in Al Taif entering Fujairah market and another one in Al Jada, its second branch in Sharjah. More recently, Omorfia Group opened the 9th branch of Jazz Lounge Spa in Port de la Mer, Dubai.International Energy Holding’s Kalyon Enerji commenced operations of the Kalyon Karap?nar Solar Plant after receiving the certificate of acceptance of the final section of the power plant, issued by the Ministry of Energy and Natural Resources (MENR) in Turkey. Kalyon Enerji also received a development impact assessment from J.P. Morgan’s Development Finance Institution for the Kalyon Karap?nar Solar Power Plant and has set a series of development objectives that are expected to advance four of the United Nations Sustainable Development Goals (SDGs): SDG #7: Affordable and Clean Energy, SDG #8: Decent Work and Economic Growth, SDG #13: Climate Action and SDG #15: Life on Land. The company also started development of 390 MW Solar - ANKA Project, 200 MW Wind - STORM Project, and 1 GW YEKA Wind Project (Kalyon shareholding 40%).Meanwhile, Viola Communications, a fully-integrated marketing and communications solutions provider successfully arranged and managed multiple big scale events, such as ADAA’s International Ethical Standards Board for Accountants (IESBA) under the theme "Building the Ethical Foundations for Sustainability”, the launch of Sea La Vie - a luxurious residential project at Yas Bay that will be developed by Nine Yards, and the open-air art gallery, DIFC Sculpture Park, featuring immersive experiences and artworks from over 70 local and international artists at DIFC.Inclusion In IndicesThe quarter saw the Group being upgraded from Mid Cap Index to Large Cap Index in FTSE Global Equity Index Series (FTSE GEIS) in its March 2023 semi-annual review.