Prado engineer: forget the off-road gizmos, listen to the music instead


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The Toyota Prado's chief engineer, Makoto Arimoto, and Hideo Suzuki, GM of Toyota's Sales and Marketing for the Middle East and Southwest Asia, talks about the launch of a Toyota Land Cruiser Prado model upgrade. Does Toyota still believe that the off-road technologies on the new Prado are still essential considering how few people drive off-road? Makoto Arimoto Usage in extreme conditions here will be a very small percentage, however the Prado is sold in more than 180 countries, where they may be using the vehicle in very extreme conditions.

In the development of this car there were two key phrases: one is off-road capability and the other is everyday comfort. The first is very important, but the comfort is another very important factor too. Are the Multi-Terrain Select, Crawl Control and Kinetic Dynamic Suspension System available on any other Toyota models? MA Multi-Terrain Select and the Multi-Terrain Monitor are firsts on this Prado, while Multi-Terrain Monitor is also a world first. Crawl Control is already available in the current Land Cruiser, and in fact all the development of the system was done in the Prado.

What is the appeal of the Prado over the Land Cruiser? MA The size is more appropriate. The Land Cruiser could be a bit too big, in my opinion. The Prado is a car that both husbands and wives can drive easily. What feature of the Prado are you most proud of? MA It's very difficult to pick out one feature. This is a full model change after seven years. As an engineer there are so many new technologies I wanted to incorporate in the vehicle before but couldn't I do it. I had a very long wish list. However, I studied as an audio engineer so if I was to pick out one, it would be the JBL 17-speaker sound system.

Where was the real-world testing of the Prado done? MA In Japan, Australia, Europe, and the Middle East in summer. Is it a different air conditioning system for this region? MA The basic components are the same across all markets, but we've added features to make it stronger. The pipes have more insulation in the Middle East. With 10 per cent share of regional Toyota sales what are your hopes for the Prado in 2010?

Hideo Suzuki In general terms, for the Middle East, according to our internal forecast, we believe that the total automotive market will recover to the 2008 level by maybe 2012 or 2013. So this year will be the bottom and we'll see a gradual recovery from next year. But this segment will continue to be very strong. Are there plans to introduce a hybrid powertrain like the 2.7-litre in the Camry?

MA Although the [2.7-litre] Prado has a four-cylinder engine, it is mounted longitudinally, whereas the Camry is mounted transversely therefore you have more space to accommodate the battery, electric motor and so on. It is also a front-wheel drive whereas the Prado is four-wheel drive. For the long-term there is a question of whether hybrid continues to be the mainstream. Fuel cell - for which I was in charge of the development - could become the mainstream.

Sadly, Toyota has decided to pull out of Formula One but is that a forecast of the corporation pulling out of other sporting events? HS Not really. This doesn't mean that we will withdraw from all the motorsports activities. We are shifting the resources from Formula One to the development of a sportscar that you can actually buy. How is the corporation dealing with the downturn in global sales?

HS In terms of volume we are seeing significant reductions in comparison to last year which was a record year. This year we will end maybe 20 to 25 per cent down on volume. In terms of the financial situation we are seeing progress in our profit recovery, so hopefully next fiscal year we will come back to some profitable situation. Volume, share and profit are all very important but the president [Akio Toyoda] is always saying we should concentrate on customer satisfaction. Sometimes we forget that philosophy and we try to maximise the volume. In the Middle East the after-sales service is a critical part of the ownership of the vehicle

motoring@thenational.ae

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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.

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Results

Stage three:

1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-43

2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s

3. Tom Dumoulin (NED) Jumbo-Visma, at 14s

4. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s

5. Joao Almeida (POR) UAE-Team Emirates, at 22s

6. Mikkel Bjerg (DEN) UAE-Team Emirates, at 24s

General Classification:

1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-13-02

2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s

3. Jasper Philipsen (BEL) Alpecin Fenix, at 12s

4. Tom Dumoulin (NED) Jumbo-Visma, at 14s

5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s

6. Joao Almeida (POR) UAE-Team Emirates, at 22s

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

All or Nothing

Amazon Prime

Four stars

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

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BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

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ABU DHABI CARD

5pm: UAE Martyrs Cup (TB) Conditions; Dh90,000; 2,200m
5.30pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 1,400m​​​​​​​
6pm: UAE Matyrs Trophy (PA) Maiden; Dh80,000; 1,600m​​​​​​​
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige; Dh100,000; 1,600m​​​​​​​
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige; Dh125,000; 1,600m​​​​​​​
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1; Dh5,000,000; 1,600m

India Test squad

Virat Kohli (c), Mayank Agarwal, Rohit Sharma, Cheteshwar Pujara, Ajinkya Rahane, Hanuma Vihari, Rishabh Pant (wk), Wriddhiman Saha (wk), Ravichandran Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Ishant Sharma, Shubman Gill

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Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

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Torque: 275Nm from 2,000-4,000rpm

Transmission: 6-speed auto

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On sale: now

'I Want You Back'

Director:Jason Orley

Stars:Jenny Slate, Charlie Day

Rating:4/5

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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners