Wednesday 22nd Oct 2008
Leading regional investors partner to create BD100 Million holding company
Bahrain-based investment company, Victorious Investments, brings together Zabeel Capital, United Group Holding, Tamdeen, Muscat Overseas and MEGA Holding to form Maalem
Maalem Holding Company B.S.C. (c) (“Maalem” or “the company”) was formally launched today in the Kingdom. The BD100 million holding company has been established to access and secure strategic investment opportunities and is supported by a group of prominent regional investors. Maalem will seek to foster interregional investment, in growing industries and sectors.
Promoted by Bahrain-based Victorious Investments, who has played a leading role in inviting key regional investors to form the company, Maalem shareholders include Zabeel Capital from Dubai; United Group Holding from Abu Dhabi; Tamdeen from Kuwait, Muscat Overseas from Oman and MEGA Holding from Bahrain.
Commenting on the establishment of the company, Mr Abdulla Al Zain, Chairman of Maalem Holding and Victorious Investments, said, “Maalem brings together some of the region’s best established and knowledgeable investors as shareholders, to pursue the vision of creating a holding company that will seek returns in the growing regional markets,”
He also added, “The GCC’s solid economic growth offers significant investment opportunities, even as the world financial systems try to cope with the effect of the recent economic condition. We still believe that the GCC as region has strong fundamentals and high potential.”
Mr Bassam Akbari, Vice Chairman of Maalem Holding and Victorious Investments said, “Establishing Maalem reflects the shareholders’ confidence in the potential of the market and the growing opportunities. The company will capitalise on the expertise of its founding shareholders and their investment insights to create a value added concept in the existing market’s portfolio.”
Maalem’s executive management and the core team have been chosen, combining the experience and capabilities needed to implement the company’s vision.
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