Jan 28 2008 |
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United Industries wins KOC's KD 28.4mln contract
KUWAIT : United Industries Company (UIC) has confirmed that one of its sister companies, which is under the United Industries Group (UIG) and owns 47.5 percent of the shares in the group, signed a contract with Kuwait Oil company (KOC) to execute a contract on digging deep wells at a total value of KD 28, 443,680 within five years. Also, the same company has extended the validity of two contracts with KOC for another six months starting from Feb 29, 2008 to Aug 31, 2008 at a total cost of KD 2,093,611. The company will update Kuwait Stock Exchange (KSE) on any new development in this regard.The Board of Directors of Al-Fajeera Cement Industries Company (Al-Fajeera) met on Jan 24, 2008 and endorsed the company's annual financial statements for the fiscal year ending Dec 31, 2007.
Accordingly, the company's profits are estimated at KD 12, 777,709, which is equivalent to 45 fils per share compared with KD 11,744,611 with per share valued at 42 fils for the fiscal year ending Dec 31, 2006. The total revenue is KD 7,563,216 while the total expenses amounted to KD 1,472, 545. The Board has also recommended the distribution of cash dividends to the existing shareholders by 20 percent of the nominal value of the share, which is equivalent to 20 fils for each share and distribution of bonus shares by 10 percent of the paid capital, that is a share for every 10 shares. Note that this recommendation is subject to the approval of the general assembly and other competent authorities.
Al-Deera Holding Company (Al-Deera)
has announced that one of its affiliated companies,
Al-Deera International Communications Company (DICC)
, recently finalized a deal on the purchase of 39 percent of the shares in
Fast Telecommunications Company (FAST TELCO)
, a Kuwaiti company specialized in Internet, information and communications technology. The value of the deal is KD 6,240,000.
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