Mubasher: Al Mal Investment reported a decline of 93.8% in losses during the fourth quarter of 2017 compared to the same period in the previous year.

Losses decreased to KWD 258,000 ($861,130) in Q4-17 from KWD 4.17 million ($13.92 million) in Q4-16, according to a bourse statement on Wednesday.

During fiscal year 2017, Al Mal incurred a loss of KWD 1.62 million, which is 91.1% lower than KWD 18.29 million in the prior fiscal year.

The board members of Al Mal recommended zero cash dividends for FY17, the statement added.