The Environment Agency – Abu Dhabi rescued the young male dugong calf in 2019. Photo: EAD
The Environment Agency – Abu Dhabi rescued the young male dugong calf in 2019. Photo: EAD
The Environment Agency – Abu Dhabi rescued the young male dugong calf in 2019. Photo: EAD
The Environment Agency – Abu Dhabi rescued the young male dugong calf in 2019. Photo: EAD

Malquot the rescued dugong transferred to Yas SeaWorld in Abu Dhabi


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A dugong calf that was rescued and rehabilitated after being found lost at sea in 2019 has been transferred to his new home.

Named Malquot, the male dugong calf travelled in a specially outfitted Marine Wildlife Rescue Vehicle to Yas SeaWorld in Abu Dhabi, specifically to their Research & Rescue Centre.

The Environment Agency – Abu Dhabi’s specialised marine species team, helped by experts from the Conservation of Migratory Species of Wild Animals Regional Office and Worldwide Zoo Consultants, rehabilitated the animal that was found unwell and abandoned by his mother in Marawah Marine Biosphere Reserve.

He then received round-the-clock care in a special facility until he was in full health.

Malquot will receive round-the-clock care. Photo: EAD
Malquot will receive round-the-clock care. Photo: EAD

A team of experts will now take responsibility for his well-being at the newly opened sealife attraction.

“Ever since Malquot was rescued, and in collaboration with our partners, we have always ensured that he is well taken care of at all times," said Ahmed Al Hashmi, executive director of the Terrestrial and Marine Biodiversity Sector at EAD.

"He will provide veterinarians, animal nutrition specialists, and animal care specialists the opportunity to better learn the needs and behaviours of such an enigmatic species.

“As there have been very few successful dugong rehabilitations around the world, Malquot will give both resident and visiting scientists the opportunity to study how he interacts with his environment and how he develops as he grows and reaches maturity."

Abu Dhabi has the second-largest population of dugongs in the world, after Australia. Photo: EAD
Abu Dhabi has the second-largest population of dugongs in the world, after Australia. Photo: EAD

Dugongs are shy creatures known as “sea cows” because they love ocean sea grass. They are effectively wiped out in many parts of the world as a result of pollution, getting tangled in fishing gear, hit by propellers or loss of food. Steller's sea cow – the dugong's nearest modern relative – was hunted to extinction in the 18th century. According to the International Union for Conservation of Nature, dugongs are classed as vulnerable.

But there are about 3,000 dugongs in Abu Dhabi’s waters, and they are mostly found near Bu Tinah Island, which forms part of the Marawah Biosphere Reserve and Al Yasat Marine Protected Area. It is the second-largest population of dugongs in the world, after Australia, and EAD leads efforts to protect the species.

"Malquot's journey has been a testament to the dedication and collaborative efforts of all organisations involved in preserving the well-being of our indigenous marine life," said Rob Yordi, general curator at the Research & Rescue Centre.

"As he continues to thrive in his new surroundings, his presence will serve as a valuable source of scientific knowledge to enhance our understanding of this species."

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.”

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Updated: September 28, 2023, 10:16 AM