Sector News

Mubasher: Boursa Kuwait announced that an auction will be held on Wednesday to offer 21.7% of Al Kout Industrial Projects’ capital for sale. Al Kout will offer 21.9 million of its shares for sale at a premium price of 710 fils each, with a total …

Mubasher: The Capital Markets Authority (CMA) has approved United Real Estate’s prospectus to issue bonds at a total value of KWD 60 million ($200 million) or KWD 50,000 per bond. The bonds will be issued in two tiers, fixed and floating, with a …

Mubasher: The ordinary general meeting (OGM) of Unicap Investment and Finance approved on Tuesday the board’s recommendation to distribute 3% of the capital as a cash dividend for fiscal year 2017. Unicap will pay 3 fils per share to the entitled …

Mubasher: The board of the Securities House has submitted its resignation on Sunday, 2 April, and will pass it to the ordinary general meeting (OGM). The resignation of the current board, of which tenure ends in 2018, is a preliminary procedure …

Mubasher: International Financial Advisors (IFA) suffered a loss of KWD 9.72 million ($32.52 million) in the fourth quarter of 2017 against profits worth KWD 1.96 million ($6.56 million) in the same period a year ago. IFA, which is listed on both …

Mubasher: Kuwait-based Aayan Leasing on Thursday said that it has settled KWD 10 million of a debt owed to one of the banks, in addition to an interest of KWD 2 million. The firm implemented an Islamic finance agreement (Murabaha) to renew the …

Mubasher: Al Madar Finance and Investment on Thursday reported a 91.8% year-on-year drop in losses during the fourth quarter of 2017. Losses trimmed to KWD 247,000 in Q4-17, down from KWD 3.02 million in Q4-16, according to the company’s statement …

Mubasher: Amwal International Investment has suffered a loss of nearly KWD 25,510 ($85,320) during the fourth quarter of 2017 against profits worth around KWD 287,440 ($961,410) in the same quarter a year ago. During fiscal year 2017, the Boursa …

Mubasher: Kuwait Finance and Investment (KFIC) incurred an increase of 573.4% in losses during the fourth quarter of 2017 compared to the same period in the previous fiscal year. Losses enlarged to about KWD 72,790 ($243,110) in Q4-17 from nearly …

Mubasher: Coast Investment and Development achieved an increase of 58.8% in profits during the fourth quarter of 2017 compared to the same period in the prior year. Earnings grew to KWD 1.52 million ($5.08 million) in Q4-17 from KWD 957,000 ($3.2 …

Mubasher: Al Madina for Finance and Investment suffered losses of KWD 476,000 ($1.59 million) during the fourth quarter of 2017 against a profit worth KWD 372,000 ($1.24 million) in the same period a year ago. Al Madina, which is listed on both …

Mubasher: The ordinary general meeting (OGM) of Al Imtiaz Investment Group approved the board’s recommendation to distribute 7% of the capital as a dividend at a total value of KWD 7.61 million. The Kuwait-based investment firm will pay 7 fils per …

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 …

Mubasher: First Investment on Tuesday announced turning a profit in the fourth quarter of 2017, against suffering losses in the year-ago period. The firm’s profits amounted to KWD 265,340 ($885,830) in Q4-17, against suffering KWD 17,140 ($57,220) …

By: Mohamad Farouk Mubasher: The stock of Aayan Leasing dropped 7.94% or 2.7 fils to 31.3 fils on Monday. By 11:50 am Kuwait time, the stock registered its lowest decline in about 18 months in line with the announcement of the negative turn in the …

Mubasher: Aayan Leasing and Investment has suffered a loss of KWD 7.75 million ($25.88 million) during the fourth quarter of 2017 against profits worth KWD 2.16 million ($7.21 million) in the same period a year ago. During the fiscal year 2017, …

Mubasher: The Securities House reported an increase of 95.8% in profits to about KWD 593,200 ($1.98 million) in the fourth quarter of 2017 compared to around KWD 302,960 ($1.01 million) in the same period in the previous year. During FY17, the …

Mubasher: The shareholders of Kuwait Financial Centre (Markaz) agreed during the ordinary general meeting (OGM) to distribute 7% of capital as cash dividends for fiscal year 2017. The investment banking and financial services provider will pay 7 …

Mubasher: Manazel Holding has suffered a loss of about KWD 230,100 ($768,000) in the fourth quarter of 2017 against profits worth KWD 1.71 million ($5.7 million) in the same quarter a year ago. During fiscal year 2017, the Boursa Kuwait-listed …

Mubasher: International Financial Advisors (IFA) said that the company is in negotiations to settle part of its debt and reschedule the remaining amount. IFA, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), said that …

Mubasher: National International Holding achieved a profit of KWD 136,000 ($454,000) in the fourth quarter of the fiscal year 2017 against losses worth KWD 338,000 ($1.13 million) in the same period a year ago. During FY17, National International …

Mubasher: Unicap Investment and Finance announced that its subsidiary, Iskan Oman Investment Company, has passed its recommendation to the extraordinary general meeting (EGM) to sell one of its assets in Oman. The financial impact of this deal …

Mubasher: Kuwait Projects Holding (KIPCO) reported a decline of 48.1% in profits to KWD 23.6 million ($78.2 million) during fiscal year 2017 compared to KWD 45.5 million ($150.8 million) in the previous year. The board members of KIPCO recommended …