Agthia, which owns the Al Ain, Bayan and Alpin water brands, is included in MSCI Small Cap Emerging Markets index. Sammy Dallal / The National
Agthia, which owns the Al Ain, Bayan and Alpin water brands, is included in MSCI Small Cap Emerging Markets index. Sammy Dallal / The National
Agthia, which owns the Al Ain, Bayan and Alpin water brands, is included in MSCI Small Cap Emerging Markets index. Sammy Dallal / The National
Agthia, which owns the Al Ain, Bayan and Alpin water brands, is included in MSCI Small Cap Emerging Markets index. Sammy Dallal / The National

Abu Dhabi's Agthia joins MSCI Small Cap Emerging Markets index


Sarmad Khan
  • English
  • Arabic

Abu Dhabi -based food and beverage company Agthia said on Wednesday it is joining Morgan Stanley Capital International's (MSCI) Small Cap Emerging Markets index from May 27.

The company made the announcement in a short bourse filing on the Abu Dhabi Securities Exchange.

The index includes small cap companies across 27 emerging markets countries. With 1,680 constituents, it covers approximately 14 per cent of the free float-adjusted market capitalisation in each country.

The small cap segment of the MSCI indexes tends to capture more local economic and sector characteristics relative to larger emerging markets capitalisation segments, according to MSCI.

Agthia employs more than 4,000 people and owns the Al Ain water, Grand Mills bakery and the Agrivita animal feed brands, among others, It plans to add other brands to further expand its portfolio.

In April, Agthia announced a five-year strategy to become the biggest food and beverage company in the region by 2025.

The food and beverage company's inclusion comes after Adnoc Distribution said this month it is joining MSCI Emerging Markets index on May 27.

The UAE's largest fuel retailer will join nine other UAE-listed companies including some of the biggest banks and property developers that are part of an index tracked by funds with billions of dollars worth of assets.

Adnoc Distribution's inclusion is expected to increase the attractiveness of its shares to potential international investors and help to further diversify the company's investor base, the company said in a statement.

The move has made Adnoc Distribution "eligible to the investable universe with an estimated weight of 0.04 per cent [in the index], which would generate inflows ... [of] around $244 million on May 27, which is the trade day for index changes implementation", Ahmed El Difrawy, managing director, head of data and index research at EFG Hermes Holding, said at the time.

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Duminy's Test career in numbers

Tests 46; Runs 2,103; Best 166; Average 32.85; 100s 6; 50s 8; Wickets 42; Best 4-47

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if you go

The flights 

Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning. 

The trains

Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.

The hotels

Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.

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The Bio

Favourite place in UAE: Al Rams pearling village

What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft

Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans

Best time to swim in the sea: When there is enough light to see beneath the surface

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

PAKISTAN v SRI LANKA

Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore

Tickets are available at www.q-tickets.com

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

How to avoid crypto fraud
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  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
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  • Store funds in hardware wallets as opposed to online exchanges.
PROFILE OF STARZPLAY

Date started: 2014

Founders: Maaz Sheikh, Danny Bates

Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners