عربي

Annual Report 2010

Chief Executive Officer's Message

Given the far-reaching effects of the recent global economic downturn, the stand-out development for Mubadala in 2010 was, for me, the company’s operational performance. To have continued to flourish during this exceptionally difficult period is encouraging for all concerned.

During the last twelve months, a number of our local assets reached significant milestones in their development. EMAL emerged as a key asset, reaching full production capability and substantially boosting its net worth to our shareholder, while STRATA was another prime performer, with the facility coming online on time and ahead of budget.

However, our projects are not confined to Abu Dhabi or the borders of the UAE; we are also driving value with our partners in overseas markets. One of our main challenges in 2010 was to optimize our existing investments – domestically and internationally – in the prevailing economic conditions, and to proactively manage our portfolio in markets that are still in recovery. Of course, these conditions also presented new opportunities and we remained ever alert to the possibility of branching into emerging markets and sectors.

In keeping with that sentiment, 2010 saw us establish several relationships in new markets. These included an agreement with Farglory Group, one of the leading real estate and investment companies in Taiwan, to develop plots on Sowwah Island, and the placement, by Mubadala, of $100 million into funds managed by Verno Capital, the capital markets fund manager in Russia.

We will continue to proactively explore further opportunities in these and other markets, during 2011 and beyond.

Our financial activity is balanced by our active socio-economic contribution, and during 2010 this was apparent on a number of fronts. We are actively helping to raise the standard of living in our community by creating jobs, providing training, improving facilities and, in the case of care provision, driving standards to new levels.

Finally, the contribution of Mubadala’s multi-national workforce during 2010 was, once again, outstanding. Their commitment and performance gives me every confidence that Mubadala is well placed to realize further opportunities in the year ahead.

Khaldoon Khalifa Al Mubarak
CEO and Managing Director