Latest news with #corporateSocialResponsibility
Al Bawaba
18-05-2025
- Business
- Al Bawaba
Waha Capital Delivers Strong First Quarter Performance with Net Profit Attributable to Shareholders of AED 81 Million
Waha Capital PJSC, an Abu Dhabi-listed investment management company (ADX: WAHA), reported net profit attributable to shareholders of AED 81 million, translating to a return on average equity of 7.8%. This was supported by gains in the company's public markets business, value realisation from the Private Investments portfolio, and steady rental income from Waha Land. During the first quarter, the company's total income stood at AED 330 million, demonstrating an ability to deliver consistent earnings across market cycles through the balanced contribution of all three business pillars. The company's total assets under management (AUM) stood at AED 12.3 billion as of 31 March 2025, an increase of 2.9% from AED 11.9 billion at the end of 2024, supported by strong inflows of third-party capital into Waha Investment's funds. In recognition of Waha Capital's multi-year track record of achievement, the company was ranked among Forbes Middle East's Top 40 Asset Managers in 2025 for the fourth consecutive year. Meanwhile, Waha Capital continued to activate corporate social responsibility initiatives aligned with the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty) and SDG 2 (Zero Hunger). In collaboration with the Authority of Social Contribution - Ma'an, Waha Capital supported two impactful Ramadan initiatives aimed at helping underprivileged communities in Abu Dhabi and Al Ain. The Food ATM initiative provided subsidized Iftar meals for blue-collar and low-income workers, while the Nourishment for Goodness initiative supported low-income families through food basket distributions and the renovation of homes to improve living conditions. Waha Investment Highlights Waha Investment, the wholly owned asset management subsidiary of Waha Capital, recorded net profit of AED 91 million in the first quarter of 2025. This was supported by recurring fee income, as third-party AUM increased to AED 7.2 billion as of 31 March 2025 from AED 6.0 billion a year earlier. Today, third-party AUM is diversified across a broad base of regional and global clients, including sovereign wealth funds, pension funds, insurance companies, private banks, family offices, and high net worth individuals. The flagship Waha Emerging Markets Credit Fund, which pursues diverse long-short strategies in emerging markets fixed income, has now recorded a cumulative net return of 270.7% since its inception in 2012, in comparison to the 66.4% return of its benchmark, the JPMorgan EMBI Global Diversified Index. The Waha MENA Equity Fund has produced a cumulative net return of 383.3% since its inception in 2014, significantly outperforming its benchmark S&P Pan Arab Composite Index, which posted a return of 85.8% in the same period. Meanwhile, the Waha Islamic Income Fund, which is focused on global sukuk and Shari'ah-compliant equities, has recorded a cumulative net return of 29.0% since its inception in 2020, compared to 6.0% for its reference, the Dow Jones Sukuk Index. Private Investments Highlights The Private Investments business, which follows a flexible, multi-asset strategy across sectors and geographies, delivered net profit of AED 16 million in Q1 2025. This was primarily driven by the successful partial strategic exit from one of its investments. While the broader portfolio was affected by continued mark-to-market volatility across asset classes and regions, the underlying assets remain well-positioned to create value over the investment cycle. Waha Health, Waha Capital's wholly owned healthcare platform, reached a key milestone with the announced expansion of Orchid Fertility, one of Dubai's fastest-growing IVF clinics. The new, purpose-built facility, set to officially open on 21 May, reflects rising patient demand and the clinic's growing team of medical specialists. With a 71% success rate, well above the international average, Orchid embodies Waha Capital's strategy of investing in high-growth, high-impact sectors while supporting the UAE's ambition to develop a world-class healthcare ecosystem. As of 31 March 2025, the Private Investments team managed AED 628 million in assets and remains focused on disciplined capital deployment, opportunistic exits, and maximizing shareholder value through selective new investments and active portfolio management. Waha Land Highlights Waha Land, a wholly owned subsidiary of Waha Capital, reported net profit of AED 11 million in Q1 2025, representing 10% growth versus the same period last year. The company's flagship industrial development, ALMARKAZ, continues to benefit from strong leasing momentum and a diversified, high-quality tenant base, with occupiers from sectors including oil & gas, manufacturing, and logistics. Stages 1 and 2A are nearly at full occupancy, with almost 100% leasing across a combined 180,400 m² of space. Stage 2B, completed in Q1 2024, introduced an additional 75,600 m² of high-specification industrial units and has already reached 76% occupancy. Waha Land remains focused on unlocking further value from the ALMARKAZ platform, including evaluating potential monetization of income-generating assets. This strategy is aligned with rising market demand for logistics and light industrial facilities, supported by Abu Dhabi's economic diversification and the UAE's role as a growing hub for regional trade.
Jordan Times
07-05-2025
- Business
- Jordan Times
PM hails JEPCO's 5% profit allocation to CSR
Prime Minister Jafar Hassan on Wednesday commends the Jordan Electric Power Company (JEPCO) for allocating 5 per cent of its profits to support key sectors such as education, health and public transportation (Petra photo) AMMAN — Prime Minister Jafar Hassan on Wednesday commended the Jordan Electric Power Company (JEPCO) for allocating 5 per cent of its profits to support key sectors such as education, health, and public transportation. During a meeting with JEPCO Chairman Othman Badir and Director General Hassan Abdullah, the prime minister underscored the importance of institutionalising corporate social responsibility (CSR) to ensure sustained support for vital national sectors, the Jordan News Agency, Petra, reported. Abdullah emphasised that CSR should be permanent, institutionalised and implemented through a cross-government approach based on a partnership triangle involving the public sector, private sector and local communities. Abdullah also reviewed JEPCO's current efforts and future plans to enhance the quality of services, in line with the Economic Modernisation Vision. Badir reiterated the company's commitment to advancing its social responsibility initiatives in alignment with government strategies aimed at improving services provided to citizens. The social responsibility initiative was launched in March. The Association of Banks in Jordan pledged JD90 million over three years to support the health and education sectors. The Jordan Phosphate Mines Company followed with a JD40 million commitment, while the Jordan Petroleum Refinery Company and the Jordan Duty Free Shops each pledged 5 per cent of their annual profits. The Arab Potash Company also joined the initiative, contributing JD30 million.
