Annual Report 2010

“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.ionally difficult period is encouraging for all concerned.ionally difficult period is encouraging for all concerned.“

“Last year, a number of our assets reached important milestones against their long-term plans. We are confident that through the progress we have made and continue to make, we are delivering a tangible impact on the economy of Abu Dhabi.“

“Last year, a number of our assets reached important milestones against their long-term plans. We are confident that through the progress we have made and continue to make, we are delivering a tangible impact on the economy of Abu Dhabi.“

“Group Communications continued to handle the business’s multi-faceted communications needs, articulating complex messages to a diverse range of local and international stakeholders.“

“Emirates Aluminium (EMAL) reaching full first-phase production capacity only a year after producing its first tonne of metal was a remarkable achievement, with its completion setting a new industry benchmark. The project also boasts an impeccable environmental, health, and safety record, of which we are proud.“

“All projects under development proceeded according to plan – notably Arzanah and Sowwah Island, where we concluded our first investment with the Farglory Group, Taiwan's leading real estate and construction company.“

“Last year, a number of our assets reached important milestones against their long-term plans. We are confident that through the progress we have made and continue to make, we are delivering a tangible impact on the economy of Abu Dhabi.“

“Last year, a number of our assets reached important milestones against their long-term plans. We are confident that through the progress we have made and continue to make, we are delivering a tangible impact on the economy of Abu Dhabi.“

“Last year, a number of our assets reached important milestones against their long-term plans. We are confident that through the progress we have made and continue to make, we are delivering a tangible impact on the economy of Abu Dhabi.“

“2010 was a seminal year for Mubadala Healthcare, and one which saw the unit post an AED 20.5 million profit. The continuing development of Cleveland Clinic Abu Dhabi, and opening of the Tawam Molecular Imaging Centre, helped to mark an exciting year of growth.“

“2010 was about delivery and growth – from core assets like Dolphin and Mukhaizna to new opportunities and exploration in Malaysia and Kazakhstan. We enhanced our technical capabilities and proved ourselves to be a safe and highly competent operator, building the platform for the next stage in our development.“

“Our domestic telecom operator – du – reached an excellent and mature 39 percent mobile market share position in the UAE, while all our other domestic and international ICT interests performed well.“

“As our financial and operating performance for the year demonstrates, Mubadala continues to develop a strong portfolio of assets that will increasingly contribute to the diversification of our revenues and profits.“

“As our financial and operating performance for the year demonstrates, Mubadala continues to develop a strong portfolio of assets that will increasingly contribute to the diversification of our revenues and profits.“

“We laid the foundations for a new technology infrastructure, forming a new IT team to drive the process. We also maintained our focus on improving intra-BU efficiencies, enhanced our Intranet capability, and further automated manual processes and workflows, including career mapping and tracking corporate registrations, to streamline operational performance.“

“We successfully launched Mubadala Capital, a direct investing platform that is primarily responsible for Mubadala’s financial investing activities. We are looking forward to the continued successful build-out of Mubadala Capital during 2011.“

“Significant progress was made on the construction of all four universities being developed within our portfolio, from the management of construction and budget through to completion and handover.“

“2010 saw the Legal & Compliance Unit continuing to protect and promote the best interests of the Mubadala Group by working closely with the Business and Corporate Units. Of particular significance to the team was the successful launch of the Mubadala Code of Conduct.“

“Our first recruits started coming on board in March, and by late summer we had completed our first high-level risk assessment of the Group’s most important activities. This work led to our risk-based audit plan for 2011 and laid the foundations for the year ahead.“

“The Structured Finance & Capital Markets Unit was established in 2010 to centralize management of the Company’s debt procurement, global funder, and credit rating agency relationship initiatives. This year we successfully broadened our access to the traditional project finance and global debt capital markets and are well positioned to meet the Company’s funding needs in 2011 and beyond.“

“The formation of Mubadala Pramerica Real Estate Investors joint venture and the launch by Abu Dhabi Finance of Mamlakaty, a new mortgage product targeted at UAE Nationals; the more than doubling of Eships’ revenues and sell down of half of our stake in Abu Dhabi Terminals; and the establishment of Bayanat, were some of our stand-out achievements in financial services, transportation and defense during 2010.“

“2010 was a year of delivery for Aerospace; from the delivery of STRATA’s first aerostructures components, to the introduction of the Advanced Military Maintenance Repair and Overhaul Center (AMMROC), and the establishment of the NASA internship program.“