Kuwait-Mubasher: Al Masaken International Real Estate Development posted losses worth around KWD 700,680 ($2.3 million) in the fourth quarter of 2015, against profits worth nearly KWD 555,900 ($1.8 million) in the same period of 2014.

Similarly, the KSE-listed firm’s financials turned negative in 2015 when it posted losses worth approximately KWD 327,900 against earnings worth KWD 1.46 million in 2014.

Al Masaken’s board has recommended withholding dividends for FY15, as well as decreasing the capital to KWD 10 million from KWD 20 million.