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Asset/Investment Management
meydangroup.com.au

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Investments

1

Partners & Customers

2

About Meydan Group

Meydan Group is a privately owned Australian-based global asset manager. With over several hundred million of assets under management across diverse businesses and industry sectors, Meydan Group's purpose is value creation at every point in the investment cycle.

Meydan Group Headquarter Location

Level 40, 120 Collins Street

Melbourne, Victoria, 3000,

Australia

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Latest Meydan Group News

WCT gets RM828mil as final settlement on Dubai contract

Jul 15, 2021

has agreed to a final settlement of RM828.24mil with Meydan Group LLC over the cancelled Nad Al Sheba Dubai racecourse contract. In a filing with Bursa Malaysia yesterday, WCT said the sum was equivalent to 65% of the principal sum of RM1.31bil which the arbitral tribunal had awarded to WCT earlier. The amount is larger than WCT’s current market capitalisation of RM780mil based on the share price of 55 sen. On Jan 13, a judicial committee had upheld the Dubai Court of Appeal’s decision that recognised the final award in favour of the company in its dispute with Meydan Group LLC. WCT said since the issuance of the final award, it had been pursuing the necessary legal proceedings for recognition and enforcement of the final award. However, with the successful settlement, WCT will receive RM318.55mil on or before July 20. The balance of RM509.59mil will be in 12 installments of RM42.47mil starting Oct 20. “The board of directors of WCT is of the view that, barring any unforeseen circumstances, the settlement when completed, is expected to contribute positively to the earnings per share and net assets per share of the group. “The net gearing ratio of the group is also expected to improve, ” it said. Back in 2007, WCT, together with its 50:50 joint venture (JV) partner Arabtec Construction LLC, had won a US$1.3bil (at that time RM4.6bil) contract to build the project in Dubai. However, in January 2009, WCT announced that the JV with Arabtec had been given a cancellation notice by Meydan relating to the construction of the premier racecourse project. WCT and Arabtec had contested Meydan’s move in 2009 to terminate its contract. In 2015, the Dubai International Arbitration Centre ruled that Meydan’s cancellation and purported termination of the contract was unlawful, invalid and of no effect. Article type: metered

Meydan Group Investments

1 Investments

Meydan Group has made 1 investments. Their latest investment was in Openpay as part of their Unattributed on October 10, 2017.

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Meydan Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/26/2017

Unattributed

Openpay

$7.66M

Yes

2

Date

10/26/2017

Round

Unattributed

Company

Openpay

Amount

$7.66M

New?

Yes

Co-Investors

Sources

2

Meydan Group Partners & Customers

2 Partners and customers

Meydan Group has 2 strategic partners and customers. Meydan Group recently partnered with SNC-Lavalin on July 7, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

7/24/2018

Vendor

Canada

SNC-Lavalin wins contract for three substations for prestigious Meydan One development in Dubai, UAE

MONTREAL , July 24 , 2018 / CNW Telbec / - SNC-Lavalin -LRB- : SNC -RRB- announces today that it has been awarded a contract to provide engineering and procurement services for the Meydan Group LLC 's Mahra , Jeyad and Forsan 132/11kV substations for the Meydan Group LLC One development in Dubai , United Arab Emirates , valued at approximately $ 90 million -LRB- USD70 million -RRB- .

2

Partner

Malta

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10

Date

7/24/2018

Type

Vendor

Partner

Business Partner

Country

Canada

Malta

News Snippet

SNC-Lavalin wins contract for three substations for prestigious Meydan One development in Dubai, UAE

MONTREAL , July 24 , 2018 / CNW Telbec / - SNC-Lavalin -LRB- : SNC -RRB- announces today that it has been awarded a contract to provide engineering and procurement services for the Meydan Group LLC 's Mahra , Jeyad and Forsan 132/11kV substations for the Meydan Group LLC One development in Dubai , United Arab Emirates , valued at approximately $ 90 million -LRB- USD70 million -RRB- .

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Sources

2

10

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