Dubai Holding Commercial Operations Group (DHCOG), a unit of global investment holding company Dubai Holding, has posted a net profit of Dh2.1 billion ($571.5 million) during the first half of the year.
DHCOG’s revenue reach
Dubai Holding Commercial Operations Group (DHCOG), part of a conglomerate owned by the emirate's ruler, will repay $319.3 million on May 13, more than 18 months before the debt is due, it said in a statement on Wednesday.
Dubai ruler's flagship company Dubai Holding said on Sunday its unit Dubai Holding Commercial Operations Group (DHCOG) has almost tripled its 2013 net profit to 3.3 billion dirhams thanks to a surge in core operational revenues.
Moody's Investors Service has upgraded the corporate family rating (CFR) of Dubai Holding Commercial Operations Group (DHCOG) to B1 from B2 and the company's probability of default rating (PDR) to B1-PD from B2-PD.
The flagship company in the ruler of Dubai's personal business empire, Dubai Holding, will repay a 750 million euro ($1.04 billion) bond maturing in January 2014 from available funds, Dubai Holding said in a statement on Wednesday.
Dubai Holding's main unit posted a six-fold increase in net profit for 2012 driven by higher revenues, cost cuts and a significant drop in impairment expenses.
Dubai Holding Commercial Operations Group (DHCOG),
Dubai Holding's main unit reported a 61-per cent rise in yearly profits on Wednesday thanks to lower impairment charges and the disposal of non-core assets which helped offset a decline in revenues.
Dubai Holding Commercial Operations Grou
Dubai Holding's main unit, which said on Thursday it repaid a 250 million Swiss franc ($304.9 million) bond, may sell its entire telecom portfolio over the next three years primarily to repay contractor liabilities, JP Morgan said in a note.
Dubai Holding Commercial Operations Group (DHCOG), a unit of the conglomerate owned by Dubai's ruler, on Thursday said it had repaid a 250 million Swiss franc ($305 million) bond, maturing on July 14.
"Dubai Holding Commercial Operations G
Conglomerate Dubai Holding's main unit has reached a deal with lenders to convert a $555 million revolving credit facility into a five-year term loan, the company said in a statement.
Dubai Holding's loss-making hospitality and property ar