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Abu Dhabi University all set to host "Top 10 Abu Dhabi Securities Exchange companies"
2013-01-16 11:29:09
WAM Abu Dhabi, Jan 16th, 2013 (WAM) -- The Abu Dhabi University will host the "Top 10 Abu Dhabi Securities Exchange registered companies" Awards Ceremony later this month.

Organized by "Alliance Capital", with Abu Dhabi Media as the strategic media partner, the preparations to award and recognize the best companies in Abu Dhabi Securities Exchange ranked by net profit and market value are complete. This is based on their economic performance during 2011 in market value and net profit. Etisalat Telecommunications Company is at the forefront for winning first place in net profit and market value.

Chancellor of Abu Dhabi University, Dr. Nabil Ibrahim, explained: "University had assigned a specialized and dedicated committee of faculty and staff in collaboration with "Alliance Capital", in order to implement the various requirements needed to ensure the success of the ceremony. Th exceptional initiative offers the University new horizons to explore for collaboration with the business market leaders who made it on this exclusive list." According to the Abu Dhabi Securities Exchange, Etisalat Telecommunications Company won first place in net profit during 2011 with 4,610,148,000 while its market value was 72,151,839,261. First Gulf Bank came in second place with a net profit of 3,707,755,000 and in third place in the market value category with 23,175,000,000, and finally the National Bank of Abu Dhabi National came in third place in the net profit with 3,707,547,000 and second place with a market value of 31,426,973,817.

The detailed list of finalists and rankings can be found on www.businessinabudhabi.com or for participation project@businessinabudhabi.com and post audited annual report to P.O. Box 72228, Abu Dhabi, before 20.1.2013.

Praising the initiative to choose the the best 10 companies operating in the market, Rashed Al Baloushi CEO of Abu Dhabi Securities Exchange (ADX) said: "This initiative will provide an incentive for companies to improve their performance and adopt the best practices in performing corporate research and evaluation processes. It also encourages active participation in building a knowledge-based economy driven by innovation, encourages entrepreneurship and creativity." WAM/AM
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