Sector News

Mubasher: Qurain Petrochemical Industries Company (QIPC) has achieved a net profit of KWD 28.23 million ($ 91.37 million) in fiscal year (FY) ended on 31 March 2020, compared to KWD 45.33 million ($ 146.72 million) in the previous year. Earnings …

Mubasher: Al Kout Industrial Projects has signed a credit facility agreement with Boubyan Bank at a total value of KWD 10 million to finance the company’s activities. The transaction has a positive impact that will reflect on the company's …

Mubasher: The ordinary general meeting (OGM) of Kuwait Foundry Company approved distributing KWD 1.08 million or 15% of the share’s nominal value as cash dividends for fiscal year (FY) 2019 as was previously proposed by the board. The company’s …

Mubasher: Al Kout Industrial Projects recorded 23.9% lower profits in the fiscal year (FY) 2019 at KWD 4.79 million ($15.42 million), compared with KWD 6.29 million ($20.25 million) a year earlier. The drop in the 2019 results was helped by lower …

Mubasher: Al Kout Industrial Projects has signed a one-year contract to supply Saudi Arabia with 70,000 tonnes of hydrochloric acid at a total value of $7.7 million. The agreement was penned with Rawabi Marketing International Company …

Mubasher: Kuwait Foundry Company has turned to a profit of KWD 894,912 ($2.86 million) in the fiscal year (FY) 2019, against a loss of KWD 1.15 million ($3.68 million) in 2018. In the fourth quarter (Q4), the company registered KWD 149,145 worth …

Mubasher: The net profit of Boubyan Petrochemical Co. surged by 42% year-on-year (YoY) over the nine-month period ended on 31 January 2020 to stand at KWD 4.48 million ($14.7 million) from KWD 3.15 million ($10.34 million).   Earnings per share …

Mubasher: Boubyan Petrochemical Company announced its share of cash dividends from EQUATE Petrochemical Company and the Kuwait Olefins Company. The Kuwaiti firm will receive dividends of EGP 17.42 million from the two companies in which it owns a …

Mubasher: Qurain Petrochemical Industries Company announced that its share of dividends from EQUATE Petrochemical Company and the Kuwait Olefins Company for 2019 reached KWD 11.62 million. Qurain owns 6% of the paid-up capital of the two …

Mubasher: Qurain Petrochemical Industries Company reported an 8% annual drop in profits over the nine-month period ended 31 December 2019, given that the fiscal year of the company starts on 1 April.   The profits amounted to KWD 14.29 million …

Mubasher: Boubyan Petrochemical Company on Wednesday said that a board member bought 1.56 million shares, according to its bourse statement. The board member, who represents Mubarak Al Dabbous Sons General Trading and Contracting Co, purchased the …

Mubasher: Boubyan Petrochemical Company has subscribed to Saudi Arabian Oil Co's (Saudi Aramco) initial public offering (IPO) and was allocated 3.326 million shares.   The subscribed shares are valued at SAR 106.444 million (KWD 8.6 million), …

Mubasher: Al Kout Industrial Projects has reported a 7.14% increase in profits during the third quarter (Q3) of the year, according to a statement to Boursa Kuwait on Thursday. Profits reached KWD 1.43 million ($4.72 million) in Q3-19, compared …

Mubasher: Kuwait Foundry Co. reported a 19.8% year-on-year decline in profit during the third quarter of 2019 to nearly KWD 158,000 ($521,400) from approximately KWD 197,000 ($650,100) in the corresponding quarter in 2018. During the …

Mubasher: Qurain Petrochemical Industries Company reported a year-on-year profit increase of 0.8% during the first half of fiscal year 2019, while its gross profit jumped by 13%, according to the oil company’s official statement. Qurain …

Mubasher: The board of Boubyan Petrochemical Company rejected the offer proposed to sell its entire 21.12% stake in Nafais Holding Company for KWD 21 million or KWD 1 per share.    During its meeting on Monday, the board reemphasised its interest …

Mubasher: Boubyan Petrochemical Company received an offer to sell its entire 21.12% stake in Nafais Holding Company.   The total value of the offer is KWD 21 million or KWD 1 per share, according to a recent bourse statement on Wednesday. The …

Mubasher: EQUATE Group has announced that the start-up of MEGlobal Oyster Creek Site’s commercial production of fiber-grade, on-spec monoethylene glycol. MEGlobal Oyster Creek is considered EQUATE Group’s first manufacturing facility in the United …

Mubasher: Al Kout Industrial Projects signed a contract worth KWD 879,780 with the Kuwaiti Ministry of Electricity and Water. The 36-month contract has been effective from 6 October 2019, according to a bourse filing on Wednesday. The project …

Mubasher: The ordinary general meeting (OGM) of Kuwait Foundry Co. approved the board of directors’ recommendation to distribute a cash dividend of 40 fils per share or 40% of the capital for the first half of 2019. The total value of the …

Mubasher: Kuwait-based Boubyan Petrochemical Company’s profit jumped 58% year-on-year to KWD 2.2 million ($7.26 million) during the first quarter of the fiscal year 2019/2020. The company ascribed the increase in profit to the growth of its share …

Mubasher: Boursa Kuwait has resumed trading on the stock of Al Kout Industrial Projects as of Sunday, 8 September 2019. Boursa Kuwait clarified that resuming trading activity on Al Kout has followed the company’s disclosure of its financial …

Mubasher: Kuwait Foundry’s board of directors has recommended the distribution of semi-annual dividends valued at 40 fils per share or KWD 2.893 million to shareholders The dividends will be deducted from the retained earnings to shareholders …