{"id":99611,"date":"2025-01-14T00:00:00","date_gmt":"2025-01-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-adia-to-invest-in-malaysias-yinson-production-offshore-sharjah-to-roll-out-rental-index\/"},"modified":"2025-01-14T00:00:00","modified_gmt":"2025-01-14T00:00:00","slug":"this-morning-adia-to-invest-in-malaysias-yinson-production-offshore-sharjah-to-roll-out-rental-index","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/14\/this-morning-adia-to-invest-in-malaysias-yinson-production-offshore-sharjah-to-roll-out-rental-index\/","title":{"rendered":"THIS MORNING: Adia to invest in Malaysia\u2019s Yinson Production Offshore? + Sharjah to roll out rental index"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>We have a packed issue for you this morning, with more debt issuances from Aldar Properties<\/strong>, which closed what is to our knowledge the largest sustainability-linked facility in the region<\/strong>, and First Abu Dhabi Bank;<\/strong> as well as news that the US capped tech exports to the UAE<\/strong>, along with 119 other countries; and a takeover bid from ADQ for Aramex<\/strong>. Plus:<\/strong> We have more on the IPO pipeline<\/strong> for the year ahead, as well as updates on the mutual taxation agreement with Bahrain<\/strong>, and a healthy dose of investment<\/strong> news. Let\u2019s dive in. <\/p>\n

\u2601\ufe0fWEATHER- More clouds and possibly showers: <\/strong>Expect to see cloudy skies today, with a chance of light rainfall, particularly over some northern and eastern areas, according to the National Center of Meteorology\u2019s forecast (pdf)<\/a>. The mercury will reach 24\u00b0C today in Dubai <\/strong>before dropping to an overnight low of 16\u00b0C. Meanwhile, in Abu Dhabi<\/strong>, temperatures will peak at 21\u00b0C, with a low of 19\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Adia reportedly set to invest in Malaysia\u2019s Yinson Production Offshore: <\/strong>The Abu Dhabi Investment Authority (Adia) plans to participate in a funding round where Malaysian offshore equipment manufacturer Yinson Production Offshore will offer USD 1 bn worth of convertible preference stocks to investors as early as this week, Bloomberg<\/a> reports, citing people it says are familiar with the matter. British Columbia Investment Management and RRJ Capital will also participate in the funding round of the Yinson Holdings\u2019 subsidiary.<\/p>\n

IN CONTEXT-<\/strong> This comes as the floating production, storage, and offloading (FPSO) unit gears up for an upcoming IPO that could take place within a few years, the sources said. RRJ Capital is expected to contribute USD 320 mn in subscription, while the exact amount of Adia\u2019s investment was not disclosed. The three investors are also expected to subscribe to another USD 500 mn round later down the line, the sources reportedly said. <\/p>\n

Adia \u2764\ufe0f Malaysia: <\/strong>A consortium comprising Abu Dhabi Investment Authority (Adia), Global Infrastructure Partners (GIP), Khazanah Nasional Berhad, Malaysia\u2019s Employees Provident Fund (EPF), and BlackRock recently secured an 84.1% stake<\/a> in Malaysia Airports. The group is advancing towards the 90% threshold required for privatization, after its stake rose to 70.08% earlier this month, up from 40.85% in December.<\/p>\n

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<\/a> #2- Sharjah could roll out its rental index during the Acres real estate exhibition betw<\/strong>een 22 and 25 January<\/strong>, Saeed Ghanem Al Suwaidi, chairman of the Representative Committee of the Real Estate Sector Business Group at the Sharjah Chamber of Commerce and Industry told Khaleej Times<\/a>. The move would help increase transparency on rentals in the emirate\u2019s real estate market, boost investor confidence, and reduce disputes between tenants and landlords<\/p>\n

REMEMBER-<\/strong> Sharjah issued<\/a> a new law for real estate rentals in September, capping rent hikes, imposing stricter eviction rules, and requiring faster ratification of leasing contracts.<\/p>\n

Sharjah isn\u2019t the first one to do it:<\/strong> Dubai launched<\/a> a smart rental index earlier this month, which uses AI and big data analytics to deliver real-time insights into rental trends and valuations, with plans to roll it out for commercial properties<\/a>. Abu Dhabi also rolled out<\/a> its index last year, and plans<\/a> to update its rental index quarterly.<\/p>\n

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<\/a> #3- UAE cuts anti-dumping duties on some Chinese electrical imports:<\/strong> The UAE reduced anti-dumping duties on Chinese-made electrical connectors, switches, plugs, and sockets to 12.2% for some companies, down from 42% in September, Al Khaleej<\/a> reports. The five-year regulation, effective until 2029, left rates unchanged for Zongshan Visbo Electrical at 11.3%, Foshan Vbon Electric at 17.1%, and Zhejiang Taos Electric at 11.3%.<\/p>\n

DATA POINTS- <\/p>\n

#1- Sharjah International Airport received over 17.1 mn passengers in 2024<\/strong>, logging 11.4% y-o-y growth, according to a statement<\/a>. The airport registered 107.8k flights during the year, up 9.5% y-o-y, and saw its cargo handling grow by a record 38.6% y-o-y to reach 196k tons. The airport also added seven new destinations, including Warsaw and Krakow in Poland, Athens in Greece, Vienna in Austria, Mal\u00e9 in the Maldives, and Tripoli in Libya.<\/p>\n

#2- The Gulf Mercantile Exchange (GME) logged a 12% increase in 2024 trading vo<\/strong>lume<\/strong> with 1.3 mn contracts, the GME said in a press release<\/a>. Meanwhile, front-month contracts volume grew 20% y-o-y during the year to a record 959.6k.<\/p>\n

HAPPENING TODAY- <\/p>\n

#1- The <\/strong>Abu Dhabi Sustainability Week (ADSW)<\/a><\/strong> kicked off on Sunday and runs through to 18 January <\/strong>at the Abu Dhabi National Exhibition Center. The event features 11 events gathering policymakers, industry leaders, and youth to discuss global sustainability solutions and foster collaborations.<\/p>\n

Among the biggest events of the week:<\/strong> The International Renewable Energy Agency (IRENA) Assembly<\/a>, which kicked off on Saturday and wraps this week in Abu Dhabi. The event gathers global leaders and decision-makers to discuss the renewable energy transition and address challenges to energy security and financing. Featured in the agenda: An International Renewable Energy Agency Youth Forum<\/a>, which will see interactive sessions, open dialogues, and thematic workshops for youth to contribute to renewable energy deployment and sustainable development.<\/p>\n

Other events include: <\/strong><\/p>\n