AL Baloushi Calls for a Press Conference to review
the Results of Road-Shows held recently by ADSM in London & New York
Mr. Rashed Al Baloushi, Acting Director General (ADG) of ADSM in the participation of Mr. Elie Ghanem Business Development Consultant and Mr. Khaled Al Suwaidi Manager of Listed Companies, have arranged a press conference to be held today, Wednesday 27th June at ADSM to announce the results of road-shows held recently in London and New York during this month through intensive meetings with representatives of British companies, investors and finance houses in the UK and New York, also in the presence of representatives of the 100 major largest companies, experts and financial analysts, investment funds, pension funds as well as Portfolio Managers of major companies with the participation of representatives of major listed companies in ADSM which comprised Aabar Petroleum Investment Co, Al Dar Properties, Dana Gas, National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, Abu Dhabi National Energy Company, Oasis Internal Leasing Co, and RAK Properties, Sorouh Real-estate, and Emirates Foodstuff & Mineral Water (Agthia). The aim of this is to open more channels that support attracting foreign investments in UAE generally and ADSM in particular.
Mr. Al Baloushi assures: “The importance of organizing such road shows in foreign countries, would maintain economic relations between the concerned parties and strengthen the economic sectors in UAE, where the strategies developed by the government to maintain economic partnerships locally, regionally and globally towards further growth.”
He added : "We are sure that our participation in meetings and workshops with Asset Managers and representatives of economic institutions in London and New York recently has come to broaden the base of cooperation with these parties to provide the necessary support in order to raise and maintain the level of collaboration also to allow the listed companies in ADSM -that reached now (64) listed companies- to prove their role in boosting economic association as well as facing the growth challenges and attracting more investors, investment companies, investment funds, and foreign portfolios to invest in ADSM to take advantage of good opportunities in this sector, pointing out that this step taken by ADSM management has opened new horizons for good business and attracting foreign investments under the directions and strategies adopted by UAE government in general and Abu Dhabi in particular in supporting domestic investment through attracting foreign capital to be invested locally.”
He said: "We held several meetings during period of organizing the road shows in London and New York to identify and highlight the opportunities and benefit offered by ADSM to investors who are willing to access the activities of trading in securities. For this purpose, a series of discussions and several meetings, could motivate and strengthen the partnership with representatives of major British companies, experts and financial analysts, investment funds, Portfolio Managers of major companies in New York, where these meetings highlighted ADSM to be well known by global institutions whom are planning to monitor part of their assets for investment in the region. Another opportunity was taken to introduce to the major global investment institutions the UAE economy in general and the economy growth of Abu Dhabi in particular, in addition to focusing on ADSM role that helps in boosting the UAE economy-market capitalization.”
He added: "For our part, we held 24 meetings, in which we explain via presentations the economy growth in Abu Dhabi and the government plan to diversify the economy as well as development of Abu Dhabi Securities Market, infrastructure and the legal framework for trading and settlement along with the available procedures to protect investor, in addition to the market development plans, pointing out that the meetings were divided as follows:
During the period from 11-12 June a meeting was held with 27 investment companies and Portfolio management in London. On June 12, another meeting was held with the Institute of Directors (IoD), which was established in London in 1903 to provide a professional network that reaches into every corner of the business community. They also provide their members a variety of benefits including information, advice, training, conferences and publications to help them maximise their potential which comprises of (52,000) member which also has branches several countries of the world. A meeting was held with the officials of (IoD) where we discussed the possibility of founding a new (IoD) branch in Abu Dhabi tom comprise directors, board members to provide them specialized courses and certificated accredited by the (IoD)for the sake of qualifying them as members in board of directors through an educations program called (Chartered Directors).
On June 18, a meeting has been held with some experts from London to find out the proposals and recommendations on the Short Selling, Borrowing and Lending.
As part of its objectives, ADSM management did not ignore the importance of listed companies participation in the road shows of London and New York, where Al Baloushi explained: “ADSM used to and still working on encouraging the listed companies to develop and to maintain the common relationships as it is an effective way to communicate and provide the best services to ADSM’s stakeholders and investors as well as providing the investment opportunities that results with benefits for all parties. Assuring this, the coordination with (HSBC) came out to the conclusion of inviting the listed companies to participate in similar seminars via a conference will be organized by (HSBC) in Emirates Palace by the end of October in which we expect a significant presence of this event.”
Al Baloushi noted that:”The economic world depends primarily on the opportunities and this is what actually happened, and a good one was there for ADSM. A Memorandum of Understanding (MoU) has been signed with the (FTSE Group) which is a world-leader in the creation and management of equity bond and hedge fund indices. The aim of this MoU is to create a series of indices that will benefit the financial organizations in UAE as well as creating of new traded funds (ETF’s).”
“As for the repetition of such road shows, we recommend this mission to be done once a year, where we are currently drafting a proposal to apply a similar trip to Japan or Hong Kong." said Al Balsoushi.
Al Baloushi concluded his press conference where he announced the names of British companies they have met during the road shows in London and New York highlighting the good investment environment provided by the UAE in general and Abu Dhabi in particular, where the investment opportunities are diversified since Abu Dhabi has become the Center for investors and foreign businessmen cause of the major shift towards international targets due to the successful investment policies and operations, where Abu Dhabi is considered as a center for trade and business from various parts of the world under the easy laws and facilities offered by the Emirate of Abu Dhabi to achieve attractive investment.
