KUWAIT CITY: Kuwait Stock Exchange (KSE) announces that the Gulfinvest International Company (Gulfinvest) had obtained the approval of the Central Bank of Kuwait on its financial statements for the annual financial year ending Dec 31, 2007, dated March 27, 2008. The company earned a profit of KD 15,123,408 which includes unrealized gains of KD 854,616, unrealized revenue worth KD 73,942 and unpaid expenses worth KD 871,321. For the year ending Dec 31, 2006 the company earned a profit of KD 8,406,137 with profitability of 17.98 Kuwaiti fils.
Central Bank of Kuwait has approved the request of GulfInvest for the extension for a period of six months to buy 10 per cent of its issued shares. The six months period ending on Sept 27, 2008 provided the company adheres to the Central Bank's controls and conditions on contributing to the company's own shares, in addition to the need to adhere to the provisions of article 115 of the Business Companies Act and the provisions of Ministerial Resolution No. 10, in 1987, as amending by resolutions ministerial No. 11 for in 1988 No. 273 for in 1999.
Kuwait Invest Holding Company reported that the Governing Council has met on Thursday March 27, 2008 and adopted annual financial statements of the company for the financial year ending Dec 31, 2007. The company earned a profit of KD 13,081,377 with EPS valued at 50.8 Kuwaiti fils for the year ending Dec 31, 2007 compared to the loss of KD 31,699,951 incurred for the year ending Dec 31, 2006. The net profit includes unrealized gains of KD 5,064,431, unrealized revenue worth KD 5,673,586 and outstanding expenses from transactions worth KD 474,180.
The Council recommended distribution of bonus shares at 25 percent of the paid-up capital of 25 shares for every 100 shares for the financial year ending Dec 31, 2007. This recommendation is subject to approval by the general assembly of the company and the competent authorities.
Kuwait Stock Exchange (KSE) announces that the general assembly meeting of the Egypt Kuwait Holding Company will be held on Monday March 31, 2008 at 12 pm at the Marriott Hotel, Cairo (Egypt) to discuss the recommendation of the Governing Council for the financial year ending Dec 31, 2007 for the distribution of cash dividends at 10 percent of the nominal value per (2.5 American cents per share) and the distribution of bonus shares at 10 percent of the paid-up capital (10 shares for every 100 shares).
The Board of Directors will also discuss other items on the agenda. Note that this recommendation is subject to approval by the general assembly and the competent authorities.
Combined Group Contracting Company (CGC) reported that the Governing Council has met on Sunday March 30, 2008 and adopted annual financial statements of the company for the financial year ending Dec 31, 2007.
For the year ending Dec 31, 2007, the company earned a profit of KD 8,693,257 which includes unrealized gains of KD 334,851, unrealized revenue worth KD1,124,019 and unpaid total expenses worth KD 1,008,929. The earnings per share (EPS) valued at 133.08 Kuwaiti fils. For the Year ending Dec 31, 2006 the company earned a profit of KD 5,955,471 with EPS valued at 90.96 Kuwaiti fils.
The council recommended the distribution of cash dividends at 75 percent of the nominal value of shares i.e. 75 Kuwaiti fils per share and bonus shares at 10 percent of the paid-up capital i.e. 10 shares for every 100 shares. Note that this recommendation is subject to approval by the general assembly of the company and the competent authorities.
Kuwait Stock Exchange (KSE) announces that the on March 27, 2008 Securities House Company (SECH) elected the members of the Board of Directors of the Company; Ayman Abdullah Boodai as Chairman of the Board and Managing Director, Ibrahim Yousef Al-Ghanim, Vice-President, Bader Nasser Abdulaziz Al-Humaidi, Hamad Jarrah Al-Omar and Abdulrahman Abdullah Boodai as members of the council.
The Company will begin the distribution of profits assessed in the general assembly of the company with effect from March 31, 2008 at the Kuwait Clearing Company.
The annual general meeting of the Kuwait Bahrain International Exchange Company will be held on Monday
April 7, 2008 at 10.30 am to discuss the recommendation of the Governing Council for the year ending Dec 31, 2007 which includes distribution of cash dividends at 20 percent of the nominal value of shares (20 Kuwaiti fils per share) and the distribution of bonus shares at 5 percent of the paid-up capital (5 shares for every 100 shares). Note that this recommendation is subject to approval by the General Assembly and the competent authorities.
Kuwait stock Exchange (KSE) announces that the shares of Safat Real Estate Company will be included in the parallel market with effect from Wednesday April 02, 2008 as SAF.R.E.
Ekttitab Holding Company reported that on March 18, 2008 it obtained the approval of the Emirates Securities and Commodities Authority (ESCA) for inclusion of its shares in the Dubai Financial Exchange. The company reported that it has taken the necessary action to meet the requirements of Dubai Financial Exchange. The company will provide management updates any new developments in this regard.
Annual general meeting of the Kuwait Hotels Company (KHOT) will be held on Wednesday April 9, 2008 at 12.30 pm in the Ambassador Hotel, where the board will discuss the recommendation of the Governing Council for the financial year ending Dec 31, 2007 for the distribution of bonus shares at 10 percent of the paid-up capital (10 shares for every 100 shares).
Kuwait stock Exchange (KSE) announces that Iraq Holding Company reported that it had sold the remainder of its shares in Bank of Baghdad in addition to the investment portfolio in the market for Iraq securities for KD 4,000,000. The company achieved a profit of KD 750,000 from the deal.
Kuwait Stock Exchange (KSE) announces that Burgan Company for Well Drilling signed a contract with Kuwait Oil Company valued at KD 59.8 million for exploratory wells and extracting gas for a period of five years.
Villa Moda Life Style Company will meet on Monday, March 31, 2008 at 12:30 pm, in order to discuss the annual financial statements of the company For the fiscal year ending Dec 31, 2007.
Tijara and Real Estate Investment Company reported that had received an offer from one of the parties for the purchase of real estate owned by the company. The company is discussing the offer and will provide updates to the management on the negotiations on the sale.
© Arab Times 2008
