Feb 14 2012 |
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CMH pays dividends to investors in aircraft arm
MANAMA - Capital Management House ( CMH ), the Bahrain- based Islamic investment bank, has distributed the regular quarterly dividends, calculated at 10 percent per annum, to its GCC investors of CMH Aircraft Leasing Investment Company for the fourth quarter of 2011 ended Dec. 31."We are delighted to have delivered solid dividends for four consecutive quarters to investors from across the GCC region that participated in our aviation leasing company," said Mohamed Aljasim, Chief Investment Officer of CMH . "Our focus is on investments with significant growth potential but importantly those that are also income-yielding. At the end of 2010, we identified aviation and the leasing sub-segment, in particular, as areas of opportunity and concluded a successful transaction that enabled CMH to realize strong gains and create a steady stream of income for the bank and our investors throughout 2011." CMH is also exploring further attractive opportunities in this sector.
CMH 's aircraft leasing company was created in January 2011 and has been structured around a transaction concluded with Emirates Airlines, one of the world's leading carriers, which consists of the acquisition of a Boeing 777-200ER aircraft from the airline and an agreement whereby it has been leased back to Emirates. The deal, which was undertaken in partnership with Novus Aviation and Muzun Partner Ltd., builds on opportunities in the regional aviation sector, which has shown to be resilient, and on the leasing sub-segment where strong returns can be achieved and where further growth, both in absolute and relative terms, is expected to continue in light of the Middle East's position as one of the fastest growing travel hubs in the world.
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