Business | Construction
Tabreed to form asset holding company to raise profit
The National Central Cooling Company Tabreed, plans to form an asset holding company in a bid to boost profitability.
- Bloomberg
- Published: 10:30 June 29, 2008
Dubai: The National Central Cooling Company Tabreed, plans to form an asset holding company in a bid to boost profitability.
Tabreed will transfer its assets into the new holding company then act as the manager of the assets, the company said in a filing to the Dubai Financial Market today.
The change will help "reduce long-term debt, avoid raising additional shareholder equity and increase the return on equity,'' the filing said, without being more specific.
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