Mubasher: Kuwait Foundry has realised a profit of nearly KWD 42,720 from Foulath Holding’s loan settlement.

The loan is valued at $6.041 million (KWD 1.83 million) of which Kuwait Foundry has a 5% share, according to a bourse disclosure on Sunday.

Repaying this loan will result in an increase of KWD 1.83 million in Kuwait Foundry’s cash which will be registered in the income statements as on the expected date of receiving the debt settlement value; 1 July 2019.

It is noteworthy that Foulath Holding is a Bahraini company established in June 2008, it is an investment vehicle and holding company primarily focused on investing in the growth of the steel industry across the GCC region.