Chairman's Awards launched at inaugural event of Investment Corporation of Dubai

The Chairman's Award is the world's first initiative to recognize outstanding economic value creation and corporate excellence through good governance.

His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates Group, their Highnesses and Ministers of the UAE Cabinet were among the eminent guests who attended the special ceremony held at Emirates Towers Hotel.

The event was also attended by Prof. S. Jayakumar, Singapore's Deputy Prime Minister, and Co-ordinating Minister for National Security and Minister of Law, and the heads of various ICD portfolio companies.

The first Prime Minister of modern Singapore, His Excellency Minister Mentor Lee Kuan Yew was invited to present the Chairman's Award to the winners. His Highness Sheikh Mohammed Bin Rashid Al Maktoum bestowed a lifetime achievement award, the ICD Global Value Creation Award on His Excellency Lee Kuan Yew for his remarkable contribution towards international business and finance.

Instructed to speak on behalf of His Highness Sheikh Mohammed bin Rashid al Maktoum, His Excellency Mohammed Al Shaibani, Director-General of HH The Ruler's Court and Executive Director and Chief Executive Officer of ICD, said: "Dubai and our companies now have to think global. In the past we have competed locally to set new standards of excellence. Now we have to collaborate so that we can succeed globally. That is why I created the Investment Corporation of Dubai. ICD will pool the energies of our winner companies ... bring best practices in corporate governance... so that brand Dubai becomes the new standard of excellence around the world".

ICD's mandate is to ensure the future of Dubai. ICD will do this by sharing best practices across the portfolio companies, assist in globalization and privatization, and optimize risk management. ICD will also assist in shaping efficient industry structures and undertake new investments to further diversification objectives. ICD is an enabling organization and its strategic goal is to ensure that portfolio companies become outstanding examples of business excellence and good corporate governance.

The Chairman's Awards are an important step in realizing the strategic goals of ICD.

Speaking on the occasion, His Excellency Lee Kuan Yew said: "We applaud the visionary leadership of His Highness Sheikh Mohammed Bin Rashid for establishing the ICD as a separate and professionally-managed investment agency that will ensure that the government's accumulated assets are properly invested for good financial returns. I congratulate the Dubai government and ICD and wish you all the best as you face the challenges ahead and decide on the model that is appropriate for your success."

His Excellency Lee Kuan Yew gave away the ICD Chairman's Awards to the winners.

Winners of the inaugural ICD Chairman's Awards

Category/Winner

Transportation (Unlisted)
Emirates Group

Financial Sector (Listed)
Emirates National Bank of Dubai (ENBD)

Real Estate and
Holding Company (Listed)
EMAAR

Real Estate and
Holding Company (Unlisted)
Emirates Investments and Development

Industrial (Unlisted)
Dubai Cable Company (Ducab)

Transaction of the Year
Borse Dubai

Privatization of the Year
DP World

ICD Global Value Creation Award His Excellency Lee Kuan Yew