Stockholm - The Swedish investment company Investor AB, which has key stakes in leading Swedish blue-chip companies Wednesday reported a loss for first quarter of 2009 and predicted that the "general economy will be in disarray" for most of the year. The group reported a first quarter loss of 3.02 billion kronor (369 billion dollars), compared to a loss of 8.9 billion kronor for the corresponding business period 2008.

At the end of March the net asset value had declined 2 per cent to 109 billion kronor, compared to 115 billion kronor at the end of 2008.

This was "in line with the general market," Chief Executive Borje Ekholm said.

Ekholm said that while signs were that economic conditions were "worsening" citing rising unemployment, there were some "encouraging signs."

In his outlook, Ekholm said there were also "attractive opportunities" for investments.

Engineering group ABB accounted for 18 per cent of Investor's assets. Investor also has stakes in blue-chip companies like pharmaceutical group Astra Zeneca, banking group SEB, construction and mining tools maker Atlas Copco, telecommunications equipment provider Ericsson, household appliance maker Electrolux, and aviation and military technology concern Saab.

Investor AB has close ties with Sweden's wealthy and influential Wallenberg family.