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Al Masaken board proposes FY11 dividend freeze

MASAKEN MASAKEN 1.01% 30.00 0.30

Kuwait Stock Exchange (KSE) announces that the board of Al Masaken International Real Estate Development Company, in a meeting held today, Thursday, 29/03/2012, endorsed financial statements for the fiscal year that ended on 31/12/2011, as follows:
1) Financial statements:

Item

FY ended 31/12/2011

FY ended 31/12/2010

Profit (Loss) (KWD)

(1.455.755)

(625.272)

EPS (LPS) (fils)

(7.28)

(3.13)

Total current assets

12.576.594

14.799.818

Total assets

25.221.393

26.667.370

Total current liabilities

2.337.643

2.482.909

Total liabilities

2.402.811

2.540.055

Total shareholders' equity

22.694.228

24.002.270


Revenue and expenses of dealings with related parties totaled KWD 103.964 and KWD 22.534 respectively.
2-Proposed dividend:
The board recommended withholding FY11 dividend, pending the approval of shareholder meeting and competent authorities.


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