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United Foodstuff waives beneficiary right of property

United Foodstuff waives beneficiary right of property
Photo Credit: Arabianeye-Reuters
UFIG
UFIG
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Kuwait-Mubasher: United Foodstuff Industries Group (UFIG) has given up its beneficiary right for using an industrial voucher for 1000 square meters in Sabhan Industrial Area, with a book value worth about KWD 108,630.

According to a bourse statement, the move will be in return for a cash of about KWD 400,000.

The deal’s financial impact will reflect on the company’s financial statements in the fourth quarter of 2015.