High Profile Board Members Finalized
Kuwait City, Kuwait: Al Masah Capital Limited, a new, major player which entered the Alternative Asset Management field in January 2010 with the promise of creating a viable and value added option to economic investment has gone on stream with the finalization of its board members. The six individuals who will dictate the company's core competence have expressed a deep and long term commitment on maximizing investment opportunities in both, the long and short term scenarios. The strategies will be event driven and specific and will also encompass IPOs in Hong Kong and India.
The Board and investors in the company who come from Kuwait, India and UAE has as the Chairman Mr. Najjad Zeenni, a graduate from American university of Beirut who brings with him a strong technical expertise. Mr Zeenni is today in command of as many as nine successful companies and has enjoyed a 6 year tenure with ADNOC.
The well known Indian entrepreneur KD Singh is the Vice Chairman and Shailesh Dash who earned a major name for himself during his tenure with Kuwait based Global Investment House will be the CEO.
Joining them on the Board is Sheikh Sagr Humaid Alqassimi who has been instrumental in creating a strong nexus between the petroleum companies and by-products in the pharmaceutical industry. With a natural flair for planning and making strategic corporate decisions he has today earned an enviable reputation.
The other founder member is Mr. Jassem Zainal, widely acknowledged as one of the best seasonal investors in the region. He is currently the Chairman and Managing Director of the Automated System Company and, under his stewardship, has established very strong credentials in the market. Mr. Zainal is also a Board Member in Bank of Bahrain and Kuwait, a position he has held since 1994 and a Board Member in Kuwait Airways. Earlier, he held the position of Chairman and Managing Director of Z-Invest, an investment firm in Kuwait established in March 2005. For 25 years, Mr. Zainal worked at Gulf Bank Kuwait, where he held different positions like Corporate Secretary (Spokesman of the Bank) and General Manager of the Investment Group as well as Acting CEO. He is known to have established several original banking initiatives and is held in very high esteem by his peers.
Mr. Zainal has held several top level posts among them Chairman of International Fund Managers Ltd in Ireland & Khaleej Islamic Investment Bank in the Kingdom of Bahrain as well as Deputy Chairman of Al Madina Finance and Investments, Kuwait.
He is also one of the founders of Addax Investment Bank, Bahrain.
Having studied at Harvard and Wharton, his presence on any corporate letterhead is a imprimatur of unquestionable credibility.
A powerhouse on his own is Mr. KD Singh who is presently the Chairman of Alchemist Group. Alchemist was conceived by Mr. Singh in 1981 and he has steered it astutely and with great industrial skill to becoming a $1.5 billion conglomerate, employing more than 8,000 personnel across India.
A new member is Waleed Abdulatif Al-Nusif, the chief editor of one of the leading local newspapers. He is currently the vice-chairman of Ajial Realestate and Entertainment Company, a listed company. In addition, Mr. Al-Nusif is the chairman of both subsidiaries Al-Hamra Cinema Company and Al-Hamra Real Estate Company, a landmark project of the world's tallest sculpted structure and has a very popular profile in Kuwait as an astute businessman and realtor and a person who has the uncanny ability to decipher the trends of the market and the pulse of the public. His presence adds a certain entrepreneurial depth to the Al Masah frontline.
The Board met for its inaugural meet last week and decided to launch 2 funds. These are Al Masah Capital Multi strategy fund Al Masah Social Infrastructure.
The company would also be announcing its regional and international advisory Board soon. The recruitment has already started and by the end of May 2010 the company would have 15 investment professionals in active mode.
AMCL, which has been incorporated as an exempted limited liability company under the provisions of the Companies Law (as amended) of the Cayman Islands intends to take investment options to a more dynamic level and offer its client base a service that is unrivalled.
Dash struck a note of high optimism for economic recovery by saying, "Based on the current market indicators, I believe the markets are going to exponentially improve in the next 12 to 18 months. I see us in a position to invest and capture the upside for our investors. It suits the liquidity profile of the investors today with the ticket size of subscription being only USD200,000 and functioning as a 2 year fund. Investors can redeem their holdings after 1 year. The Fund would be launched in May 2010 and the company is in serious discussions with many Private Banks for marketing the fund."
-Ends-
The Guild
© Press Release 2010
