UAE-based leading telecom operator Etisalat led the list of Abu Dhabi's Top 100 key government investment companies listed on the Abu Dhabi Securities Exchange (ADX), according to a new index.

The company was honoured at a recently held awards ceremony hosted by Abu Dhabi University.

Etisalat topped the list with net profits of Dh5.8 billion ($1.58 billion) for 2011, and the telecoms operator's market capital was pegged at Dh72 billion according to figures provided by ADX.

Rashed Al Baloushi, chief executive at Abu Dhabi Securities Exchange, and Mohammed Omar Abdullah, undersecretary of the Department of Economic Development (DED), handed over the certificates in the presence of Fahad Saeed Al Raqbani, deputy director general of the Abu Dhabi Council for Economic Development (ADCED), and Dr Abdulwahid bin Khalid Al Homaid, Deputy Minister of Labour.

Ali Al Ahmed, chief of corporate communications, Etisalat, said: “It is an honor for Etisalat to receive this award, which recognises our outstanding financial track record over the years. Our loyal and expanding customer base offers testimony to our customer-centric services, which are responsive to changing market dynamics.”

“We are confident that we will continue to achieve greater milestones that will help us maintain our position as a leading global ICT company and significantly contribute to positioning the UAE as the ideal destination for working, studying, living and tourism.”

“Etisalat will continue to work with local, regional and international partners across the telecom spectrum to develop cutting-edge technologies. We are confident we will capitalise on the current dynamic environment through our investment in FTTH fibre-optic cabling and the LTE 4G network for the benefit of our customers,” Al Ahmed said.

Set up to recognise Abu Dhabi companies based on their economic performance, the award categories include top companies listed on the exchange, key government investment companies, largest regional private sector natural gas producers, those with the highest number of employees and those employing the maximum number of UAE nationals. – TradeArabia News Service