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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
  • Gulf News

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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