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Dubai World assets in excess of US$120 billion

DUBAI: State-linked Dubai World's property and investment assets exceeded US$120 billion (RM410.4 billion) at the end of 2009 and could cover its debt of US$57 billion, an Arabic-language daily said on Jan 14.

Citing a recent internal report shared with creditors, Al Ittihad newspaper said the value of the company's property assets dropped around 35% in 2009, compared with US$157 billion in 2008.

"The drop in the value of investment and strategic assets for the group did not exceed 20%," the paper said. -- Reuters
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