The Abu Dhabi skyline. Chimera Investment's diversified portfolio of proprietary assets is worth $6 billion. Khushnum Bhandari / The National
The Abu Dhabi skyline. Chimera Investment's diversified portfolio of proprietary assets is worth $6 billion. Khushnum Bhandari / The National
The Abu Dhabi skyline. Chimera Investment's diversified portfolio of proprietary assets is worth $6 billion. Khushnum Bhandari / The National
The Abu Dhabi skyline. Chimera Investment's diversified portfolio of proprietary assets is worth $6 billion. Khushnum Bhandari / The National

IHC's Chimera consolidates asset and investment management businesses


Sarmad Khan
  • English
  • Arabic

International Holding Company, the UAE's most valuable listed company, is streamlining the asset and investment management businesses of subsidiary Chimera Investment as part of plans to develop a regional investment champion.

The company’s board has approved plans to initiate the Chimera Investment transaction through the common control method, which will be subject to regulatory approvals, IHC said on Tuesday to the Abu Dhabi Securities Exchange, where its shares are traded.

A common control transaction is a transfer of assets or an exchange of equity interests among entities under the same parent's control.

Chimera Investment owns Chimera Capital Holding and its subsidiaries — Chimera Capital Limited, an asset manager licensed and regulated by the Abu Dhabi Global Market Financial Services Regulatory Authority, and Chimera Capital, an investment manager regulated by the UAE’s Securities and Commodities Authority.

“The move aligns with IHC's local and international growth plans within the financial services and asset management space, and lays the foundation for the development of a regional champion,” the company said.

Chimera Investment's diversified portfolio of proprietary assets is worth Dh22 billion ($6 billion).

Its subsidiary Chimera Capital Holding has more than Dh48 billion of assets under management and holds stakes in investment companies that have assets worth Dh26 billion.

Chimera focuses on building products for third-party clients across various asset classes, including public markets, private equity, venture capital and credit strategies.

With more than $10 billion in global venture capital, Chimera is the largest venture capital asset manager in the Mena region.

It also offers corporate finance advisory services and has advised IHC previously on its acquisition of 50 per cent of Kalyon Enerji in Turkey in 2022, as well as Q Holding on its acquisition of Tamouh Investment in 2021.

Its ADGM-registered entity is also approved by the Central Bank of Ireland to act as an investment manager to authorised Irish investment funds.

Last November, Chimera Capital and investment company Alpha Wave Global launched an open-ended credit fund with initial commitments of $2 billion that aims to channel into private credit market opportunities globally, the two companies said at the time.

IHC, which plays a key role in supporting the diversification of the UAE economy, invests in agriculture, brokerage and financial services, entertainment, health care, industry, entertainment, retail, property, energy and maritime industries.

The conglomerate, which has more than 422 subsidiaries, including Alpha Dhabi Holding, Q Holding, International Securities, Al Seer Marine and Multiply Group, had total assets of Dh227.5 billion at the end of 2022, up from Dh88.98 billion at the end of 2021.

This month, IHC and ADQ, the Abu Dhabi-based investment and holding company, revealed plans to create the region’s largest multi-asset class investment manager.

The new entity, based in Abu Dhabi, will manage a portfolio of assets from ADQ’s Alternative Investments platform, the Abu Dhabi Growth Fund and IHC, as well as new capital from founding shareholders and future investors to be used globally, the companies said.

Essentials

The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes. 
 

Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes. 


In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes. 
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.

UAE currency: the story behind the money in your pockets
Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

Did you know?

Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.

Brief scoreline:

Crystal Palace 2

Milivojevic 76' (pen), Van Aanholt 88'

Huddersfield Town 0

Important questions to consider

1. Where on the plane does my pet travel?

There are different types of travel available for pets:

  • Manifest cargo
  • Excess luggage in the hold
  • Excess luggage in the cabin

Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.

 

2. What is the difference between my pet traveling as manifest cargo or as excess luggage?

If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.

If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.

 

3. What happens when my pet arrives in the country they are traveling to?

As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.

If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty. 

If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport. 

 

4. How long does the travel paperwork and other travel preparations take?

This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.

In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.

 

5. What vaccinations does my pet need to travel?

Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.

Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.

Source: Pawsome Pets UAE

Titanium Escrow profile

Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue  
Stage: Early stage
Investors: Founder's friends and Family

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
COMPANY%20PROFILE
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Kanye%20West
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England v South Africa Test series:

First Test: at Lord's, England won by 211 runs

Second Test: at Trent Bridge, South Africa won by 340 runs

Third Test: at The Oval, July 27-31

Fourth Test: at Old Trafford, August 4-8

Recent winners

2002 Giselle Khoury (Colombia)

2004 Nathalie Nasralla (France)

2005 Catherine Abboud (Oceania)

2007 Grace Bijjani  (Mexico)

2008 Carina El-Keddissi (Brazil)

2009 Sara Mansour (Brazil)

2010 Daniella Rahme (Australia)

2011 Maria Farah (Canada)

2012 Cynthia Moukarzel (Kuwait)

2013 Layla Yarak (Australia)              

2014 Lia Saad  (UAE)

2015 Cynthia Farah (Australia)

2016 Yosmely Massaad (Venezuela)

2017 Dima Safi (Ivory Coast)

2018 Rachel Younan (Australia)

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
SPEC%20SHEET%3A%20APPLE%20IPHONE%2014
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UAE currency: the story behind the money in your pockets
Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

BMW%20M4%20Competition
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Updated: March 14, 2023, 10:59 AM`