Abu Dhabi – Mubasher: Al Qudra Holding on Monday announced that it has only two investments with The Abraaj Group, but noted that these investments were in funds not managed by Abraaj.

The cost of these investments is AED 61.61 million as at 31 December 2017, the company said in a filing to the Abu Dhabi Securities Exchange (ADX).

Al Qudra’s announcement comes pursuant to a circular issued by the Securities and Commodities Authority (SCA) in June which requires all companies listed in the UAE’s bourses to uncover the level of their exposure to The Abraaj Group which filed for liquidation last month.

Al Qudra will take the necessary precautions for these investments based on its quarterly estimates for market values, it said.

The fund management division was separated from Abraaj several months ago, Al Qudra highlighted, noting that the mother company’s ongoing massive restructure was unlikely to impact its funds and their values.

On Monday, a host of ADX-listed firms including banks and real estate companies disclosed their exposure or lack of it to the Abraaj group in line with the SCA circular.