Mumtalakat 2018 Annual Report

Year
in review

KEY

MILESTONES

L
I
N
G
  • JAN
  • FEB
  • MAR
  • APR
  • MAY
  • JUL
  • AUG
  • SEP
  • OCT
  • NOV
  • DEC
January 1, 2018

January

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Our first acquisition in 2018 was in partnership with RDIF where we invested in the flag carrier and the largest airline of the Russian Federation, Aeroflot.

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January 9, 2018

January

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Raising the bar when it comes to excelling in business, our Information Technology team won the Computer News Middle East’s (CNME) CIO 100 Award which recognises organisations whose application of forward-thinking technology strategies has advanced their digital transformation.

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February 1, 2018

February

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We marked our first partnership with Sentinel, partnering to acquire an office campus in Raleigh-Durham, North Carolina, United States of America. The state-of-the-art Class A campus is fully leased to Lenovo, a Fortune 500 global technology leader and one of the largest PC makers in the world.

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March 1, 2018

March

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The fruits of our joint venture with Mueller Industries and Cayan Ventures which we signed in 2016 were seen in the launch of Mueller Middle East, the first copper tube mill in the region. The grand opening was held under the patronage of HE Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of Mumtalakat.

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April 22, 2018

April

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Seeking further positive economic impact, we subscribed to the Al Waha Fund of Funds, a venture capital fund aimed at providing capital to Bahrain’s rapidly growing start-up industry.

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April 8, 2018

April

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Our commitment to transparency and corporate governance was reflected in our score of 10 out of 10 in the Linaburg-Maduell Transparency Index issued by the Sovereign Wealth Funds Institute, a ranking we have maintained since 2015.

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April 1, 2018

April

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Aiming to enhance Bahrain’s reputation among local and global clients as the centre of the pearl and gemstone industry, we appointed the Board of Directors for the Bahrain Institute for Pearls and Gemstones (DANAT), under the Chairmanship of Yaser Abduljalil Alsharifi.

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May 1, 2018

May

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The Order of Friendship was awarded to our CEO, Mahmood H Alkooheji by the President of the Russian Federation, Vladimir Putin, in recognition of his efforts in leading Mumtalakat’s partnership with RDIF. Alkooheji is the first Bahraini to receive this award.

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May 6, 2018

May

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Basim AlSaie was appointed by Mumtalakat as the new Chairman for Gulf Aluminium Rolling Mill Company (GARMCO) to lead the first and one of the largest downstream aluminium facilities in the Middle East for rolling, cutting and fabricating aluminium.

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May 30, 2018

May

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As part of our continuous efforts to lead by example and reduce costs, we successfully migrated Mumtalakat's IT infrastructure to the Amazon Web Services (AWS) cloud and closed our onsite and offsite data centres. We were the first government-owned company in Bahrain to fully migrate all its technology infrastructure.

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July 1, 2018

July

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We reported our audited consolidated financial results for 2017, which saw an increase in our consolidated total assets by 46.4%, reaching US $15.4 billion.

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July 30, 2018

July

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Alongside RDIF, we made our first investment in infrastructure, by acquiring a stake in The Main Road Company, which specialises in transport infrastructure projects in Russia.

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August 1, 2018

August

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We sold our stake in Nobel Learning Communities, one of the leading providers of private education in the United States. During our investment period of three years, Nobel’s network grew significantly through several M&A initiatives as well as greenfield investments, adding a total of 34 new schools to their network.

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September 2, 2018

September

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As part of our co-investment programme with RDIF, we acquired a stake in WayRay, a holographic augmented reality technology company headquartered in Zurich.

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October 15, 2018

October

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Our legal team was recognised, for the second consecutive edition, by The Legal 500 GC Powerlist Middle East: Teams, as one of the top 100 in-house legal teams.

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October 1, 2018

October

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Marking our first investment in agriculture outside Bahrain, construction work for Khairat Bahrain, a farming project located in the world’s richest expanse of groundwater (the great Nubian Sandstone Basin) in Sudan, began.

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November 1, 2018

November

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We made our second investment in the United States commercial real estate market in partnership with Sentinel, by acquiring office buildings in Charlotte, North Carolina Metropolitan Area. The offices are fully occupied by The Lash Group.

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December 11, 2018

December

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Reflecting our belief in the indispensable contributions of the many individuals within our Group to the economy, we commemorated the outstanding employees within our local portfolio companies in a special luncheon on the occasion of Bahrain’s National Day, closing our annual “Many Stories, One Bahrain” campaign.

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