Kevin Hackett
As regular readers will be aware, I recently treated myself to a classic car, or as I like to refer to it in front of Mrs Hackett, an “investment”. She’s really good with money and I’m really not, you see.
But in this particular instance, I know I’ve bagged a bargain and I can enjoy some good old-fashioned, guilt-free motoring in a car I’ve always wanted to own – one that’s simple in its construction, stylish in its appearance, and has the ability to turn heads and get its rear-end hanging out while taking corners at nearly pedestrian speeds. It hits every mark, ticks every box, and in the two months since it arrived on these shores, I’ve driven it at every opportunity.
But as I mentioned a couple of weeks ago, the time has come for it to be secreted away in a secure, air-conditioned storage facility where it will be safe from harm caused by the harsh summer temperatures, and will be worked on to ensure it’s in the finest fettle for winter when I intend to use it as my daily driver.
Many people have asked me why I chose a Triumph TR6 and the answer is quite simple: it’s the car that got me into cars. When I was 8 years old, my father bought an early example to use as the family runaround, despite its lack of any rear seats. In those heady days of not actually caring what might happen in a potential accident, my two brothers and I squished up on the rear “shelf”, with a cushion lovingly crafted by my mum. We went on family holidays in it, he drove to work in it, and when he decided to sell it, I actually wept. In a few short months that TR6 had changed me forever.
It became something of a running joke that my father had sold the car to finance a top-loading Betamax video recorder (it was almost as big as the Triumph), as that’s what he used the money for.
But the truth of the matter was that it was a millstone around his neck. I recall him constantly chasing rust on it, patching it up, repainting it and despairing when its troublesome Lucas electrics packed up – which was fairly frequent. He stopped enjoying it, and when that happens, it’s usually time to say goodbye to a car, no matter how desirable it is on good days.
Still, that car’s hooks have remained in me for 35 years. When it provided family transport for us in 1980, it was less than 10 years old, but was even then considered “past it”. British cars back then were slung together and untold millions were reduced to little more than piles of brown powder or derelict monoliths dying undignified deaths in overgrown gardens outside rundown houses. Cars aren’t built like they used to be, and that’s the best possible news in many respects. The survivors, though, are more often than not fully restored cars that will hopefully never go the way of those that were left to the ravages of time. And my TR6 falls firmly into the “fully restored” category, having cost its owner huge sums of money that he would never recuperate.
It’s easy to see that this man, who lived in Germany, had been bitten by the same bug that got me when I was a pre-teen and he’d left no stone unturned while returning this car to its former glory. The stack of documents and photographs that came with the car when I bought it showed serious amounts of dedication and spending power, but once it was like new (better than new, really) again, it appears that it was never used. Rather, it was kept in a garage under a cover for years, inherited by the man’s son who obviously had no interest in it.
Eventually this man’s son asked a man who knows about these things to re-commission the TR6 and sell it on his behalf. That man was the one I bought it from, and lest we forget, I did so unseen. The first time I clapped eyes on my car was when the container doors were swung open in a Dubai shipping yard.
While my intention was always to make a bit of money when the time comes to sell it, not using this car never figured in my game plan. So as soon as it was road legal, I set about racking up as many kilometres as possible – both to get used to its idiosyncrasies and to discover problems that might have been hidden, safe in the knowledge that it would soon be going into forced hibernation when anything that needed sorting would be.
Initial findings were limited to little more than the engine running a bit roughly, particularly just after start-up, but that seemed to sort itself once on the open road and I put it down to the twin carburettors needing some fine adjustment. The ambient temperatures and humidity can cause these things to play up. I also found the brakes to be next to useless and when I drove over a speed hump, the front suspension groaned and squeaked. None of which caused me too much concern, because in a digital world, this is perhaps the ultimate analogue car and would be both simple and inexpensive to put right.
But I always knew that some day, sooner or later, it would break down on me. I signed up for this experience, warts ’n’ all, so I would never be able to put the blame on anyone else’s shoulders, but I wasn’t expecting it to happen quite so soon.
It was a Wednesday night and I needed to be out early the following morning to grab some shots of the car for these very pages before the heat made being outside unbearable. I knew the fuel level was at “critical” rather than just “low”, so headed to my nearest petrol station to fill up, rather than do it in the morning. As I pulled onto the forecourt, my brow already soaked, the sight of dozens of queuing cars meant I was going to be here for a while. After 10 minutes, the TR6 coughed and spluttered before the engine stopped turning. I’d run it dry.
In front of far too many motorists, I pushed the car to the pump, filled it up and turned crimson from embarrassment as it point blank refused to start again. So I pushed it into a car park bay (it weighs less than a tonne and is remarkably easy to manoeuvre with one hand on the wheel and another on its windscreen surround) and tried, in vain, to get it going. People stared, pointed and smirked. One or two stopped to tell me how beautiful my car is, but I was too busy panicking to appreciate the compliments.
Help was at hand though, in the form of a service centre at the far end of the forecourt. So I pushed it over, spoke to the man in charge and lifted its bonnet. He took out the spark plugs and cleaned them. He removed the fuel filter and blasted compressed air through it. He fiddled with the carburettor settings and eventually got it running again. It turned out that running the tank dry had flushed a load of contaminants into the fuel lines.
The mechanic, a friendly man named Seth, agreed to source me another fuel filter, and I asked him how it was he knew about old engines. “I’m from the Philippines,” he replied. “These kind of engines are common there – they are what I grew up working on.” This was a most welcome development – I had already found a trusted mechanic to at least keep the engine on fine form.
A couple of weeks later, I returned to have the new fuel filter fitted, and for the first time, got underneath the car for a good snoop around while it was on the ramps. And what I found was, as I’ve already described in a previous column, a car that was practically new. The feeling of relief was palpable.
And now, as it resides at Parc Fermé, it has been thoroughly inspected and I’ve been given a shopping list of things to pick up for it while I’m spending a few weeks in the UK. It needs a new water pump, it could do with a larger radiator, and the brakes definitely need a new actuator – none of which will cost me much financially.
I’m looking into having those pesky Stromberg carbs replaced with new, more reliable units and I’ll upgrade the headlamps so it’s easier to see at night while driving – again, these are things that will increase the pleasure of ownership, but without breaking the bank. Come November, this classic British car will be back on the road, tearing up the tarmac and putting a huge smile on my silly face.
My wife has bought a colour-coordinated headscarf for the Hollywood screen siren look and I am now planning in my mind the various drives I will take it on. It’s better than money in the bank for a great many reasons, but there’s still one thing nagging away at me: its insurance status.
The fact of the matter is that cars in the UAE that are more than 20 years old cannot be covered by more than the most basic third-party liability. And that means I’m extremely vulnerable – if someone crashes into me, I lose my car with little or no financial compensation as a result, and that’s plainly wrong. So I’m investigating alternative arrangements while it’s locked away and will report back with my findings as soon as there’s anything to report.
In the meantime, if you’re procrastinating over the decision about treating yourself to a classic “investment”, take my advice and do it. In these times of anonymous automobiles, there’s little to make you feel better about being on the road than a classic car that hasn’t set you back a small fortune.
If you are interested in more information about what’s involved and what the various pitfalls of importing a classic car are, feel free to email us in touch at motoring@thenational.ae.
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Match info
Uefa Champions League Group H
Juventus v Valencia, Tuesday, midnight (UAE)
Suggested picnic spots
Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Emiratisation at work
Emiratisation was introduced in the UAE more than 10 years ago
It aims to boost the number of citizens in the workforce particularly in the private sector.
Growing the number of Emiratis in the workplace will help the UAE reduce dependence on overseas workers
The Cabinet in December last year, approved a national fund for Emirati jobseekers and guaranteed citizens working in the private sector a comparable pension
President Sheikh Khalifa has described Emiratisation as “a true measure for success”.
During the UAE’s 48th National Day, Sheikh Khalifa named education, entrepreneurship, Emiratisation and space travel among cornerstones of national development
More than 80 per cent of Emiratis work in the federal or local government as per 2017 statistics
The Emiratisation programme includes the creation of 20,000 new jobs for UAE citizens
UAE citizens will be given priority in managerial positions in the government sphere
The purpose is to raise the contribution of UAE nationals in the job market and create a diverse workforce of citizens
UNSC Elections 2022-23
Seats open:
- Two for Africa Group
- One for Asia-Pacific Group (traditionally Arab state or Tunisia)
- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Expert input
If you had all the money in the world, what’s the one sneaker you would buy or create?
“There are a few shoes that have ‘grail’ status for me. But the one I have always wanted is the Nike x Patta x Parra Air Max 1 - Cherrywood. To get a pair in my size brand new is would cost me between Dh8,000 and Dh 10,000.” Jack Brett
“If I had all the money, I would approach Nike and ask them to do my own Air Force 1, that’s one of my dreams.” Yaseen Benchouche
“There’s nothing out there yet that I’d pay an insane amount for, but I’d love to create my own shoe with Tinker Hatfield and Jordan.” Joshua Cox
“I think I’d buy a defunct footwear brand; I’d like the challenge of reinterpreting a brand’s history and changing options.” Kris Balerite
“I’d stir up a creative collaboration with designers Martin Margiela of the mixed patchwork sneakers, and Yohji Yamamoto.” Hussain Moloobhoy
“If I had all the money in the world, I’d live somewhere where I’d never have to wear shoes again.” Raj Malhotra
UAE cricketers abroad
Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.
Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.
Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.
Killing of Qassem Suleimani
Book%20Details
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SPECS
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The biog
Name: Mariam Ketait
Emirate: Dubai
Hobbies: I enjoy travelling, experiencing new things, painting, reading, flying, and the French language
Favourite quote: "Be the change you wish to see" - unknown
Favourite activity: Connecting with different cultures
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
UAE currency: the story behind the money in your pockets
The specs
Engine: 1.5-litre, 4-cylinder turbo
Transmission: CVT
Power: 170bhp
Torque: 220Nm
Price: Dh98,900
