Friday, October 18, 2019
"Al Futtaim Group" current industry situation Essay
"Al Futtaim Group" current industry situation - Essay Example It grew by ten percent to reach three billion and six hundred billion. Majid Al Futtaim issued its first ten year fifty million dollar bond in May 2014. This extended the life average life of the portfolio of the company. The bond was the first issuance since 2010 and also the longest tenure achieved in Dubai by a corporate issuer. The company optimized its debt portfolio since it had strong liquidity and a solid financial performance in the banking market. They also received the most innovative treasury award from Global Capital (Browne, 1999. Pp52). In January 2015, Majid Al Futtaim which is the leading shopping mall, retail and leisure pioneer across North Africa and the Middle East reported a steady growth as it prepared for a further regional expansion. The company continues to develop a strong balance sheet with assets valued at more than forty five billion AED and net debt of around eight billion AED. The standard and poorââ¬â¢s and Fitch Rating reaffirms the companyââ¬â¢s investment-grade ratings of BBB which is a stable outlook during the year. The company has a vision of future expansion across North Africa and the Middle East and to bring innovative new experiences to new populations strongly focusing on Egypt and Saudi Arabia (Shaw-Smith, 2015.
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