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Mar 10 2008

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BPCC logs KD 8.4m profit

Kuwait Stock Exchange (KSE) announces that the general assembly meeting of the KIPCO Asset Management Company (KAMCO) will be held on Wednesday March 26, 2008 at 12.30 noon at the headquarters of the company , where the company would discuss the recommendation of the Governing Council for the financial year ending Dec 31, 2007 including:

* Distribution of cash dividends at 55 percent of the nominal value per share (5 Kuwaiti fils per share).

* The distribution of bonus shares at 5 percent of the paid-up capital (5 shares for every 100 shares).

To shareholders registered company records on the general assembly. The council will also discuss other items on the agenda.

The Board of Directors of the Al-Enma'a Real Estate Company ( ERESCO ) met on Monday March 10, 2008, approved and adopted the financial statements of the company for the three months ending Jan 31, 2008.

The company reported a profit of KD 3,026,668 for the three months ending Jan 31, 2008 with the earnings per share amounting to 7.05 Kuwaiti fils compared to a profit of KD 1,902,360 with earnings per share of 4.43 Kuwaiti fils for the three months ending Jan 31, 2007.

The company also announces that the net profit includes unrealized profit of KD 1,547,980, unrealized revenue worth KD 708,377 and unpaid expenses from transactions amounting to KD 470,872.

Kuwait Stock Exchange (KSE) announces that the Kuwait and Gulf Link Transport Company (KGL) reported that the Central Tenders Committee has awarded KGL with two tenders for the cleaning service of the refineries of Kuwait National Petroleum Company Part I at a total value of KD 4,671,900 for a period of five years and Part IV-A at total value of KD 2,296,000, for a period of five years.

Burgan Group Holding Company (BurganGrp) reported that the company board will meet on Wednesday March 12, 2008 at 1:00 pm, in order to discuss the annual financial statements of the company for the financial year ending Dec 31, 2007

Salhia Real Estate Company's Board of Directors will meet on Wednesday March 12, 2008 at 12:30 noon, in order to discuss the annual financial statements of the company for the fiscal year ending Dec 31, 2007

Kuwait Stock Exchange (KSE) announces that the general assembly meeting of United Industries Company (UIC) was convened on Monday March 10, 2008 and approved the recommendation of the Board of Administration distribute cash dividends at 35 percent of the nominal value of shares (35 fils per share) and bonus shares at 5 percent of the paid-up capital (5 shares for every 100 shares) for the financial year ending Dec 31, 2007 shareholders registered records On the company's general assembly.

The general assembly meeting of Advances Technological Company (ATC) will be held on Wednesday March 12, 2008 at 11.30 am in the Ministry of Trade and Industry to discuss the recommendation of the Governing Council for the financial year ending Dec 31, 2007 to distribute cash dividend by 27.5 percent of the nominal value of shares (27.5 Kuwaiti fils per share) to shareholders registered company records on the general assembly. The council will also discuss other items on the agenda.

Kuwait Stock Exchange (KSE) announces that the general meeting of First Investment Company (FIC) will be held on Wednesday March 26, 2008 at 10 am in the Chamber of Commerce and Industry in Kuwait to discuss the recommendation of the Governing Council for the financial year ending Dec 31, 2007 for the distribution of cash dividends by 30 percent of the nominal value of shares (30 Kuwaiti fils per share) and the distribution of bonus shares by 10 percent of the paid-up capital (10 shares for every 100 shares) to shareholders registered company records on the general assembly.

Kuwait Stock Exchange (KSE) announces that board of Commercial Facilities Company (CFC) will be meet on Tuesday March 18, 2008 at 10 am in the Ministry of Trade and Industry to discuss the recommendation of the Governing Council for the financial year ending Dec 31, 2007 for the distribution of cash dividends at 50 percent of the nominal value of shares (50 Kuwaiti fils per share) and bonus shares at 5 percent of the paid-up capital (5 shares for every 100 shares) to shareholders registered company records on the general assembly.

The Board will also discuss other items on the agenda.

The Board of Directors of Boubyan Bank will meet on Sunday March 16, 2008 at 11 am at the Ministry of Trade and Industry to 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) to shareholders registered on the company's records. The Board will also discuss other items on the agenda.

Note that this recommendation is subject to approval by the General Assembly and the competent authorities.

Kuwait Stock Exchange (KSE) announces that the Board of Directors of Kuwait Investment Projects Holding Company (KIPCO) will meet on Tuesday March 25, 2008 at 11 am at the headquarters of the company to discuss the recommendation of the Board for the financial year ending Dec 31, 2007 for the distribution of cash dividends at 90 percent of the nominal value of shares (90 Kuwaiti fils per share) and bonus shares by 10 percent of the paid-up capital (10 shares for every 100 shares) to shareholders registered company records on the general assembly.

The general assembly meeting of Mabanee Company will be held on Tuesday March 25, 2008 at 12 noon in the Ministry of Trade and Industry to discuss the recommendation of the Governing Council for the financial year ending Dec 31, 2007 to distribute bonus shares at 15 percent of the paid-up capital (15 shares for every 100 shares) to shareholders registered company records on the general assembly. The Council will also discuss other items on the agenda.

Note that this recommendation is subject to approval by the General Assembly and the competent authorities.

Abyaar Real Estate Development Company would like to clarify about what was published in some local newspapers about the sale of Olgana Tower and 70 percent of the housing units in Helena in Dubai.

The company reported that it had sold its housing units in Olgana Tower full and 70 percent of Helena tower units at a total amount of one billion and two hundred thousand AED.

Safat Investment Company had signed a contract for beneficially owned land located in the district of Alillaih area of 194,250 square meters the deal KD 22,000,000. Note that the company's share of the deal is 80 percent equivalent to KD 17,600,000.

While Jeezan Holding Company signed a contract for 20 percent of the same land which is equivalent to KD 4,400,000.

Kuwait Stock Exchange (KSE) announces that the Al Madar Finance and Investment Company had obtained the approval of the Central Bank of Kuwait on its financial statements

Annual financial year ending Dec 31, 2007, dated March 09, 2008. The company reported a profit of KD 9,041,174 for the year ending Dec 31, 2007 compared to a profit of KD 7,239,343 for the year ending Dec 31, 2006. The earnings per share for the year ending 2007 valued at 27.79 Kuwaiti fils.

Note that the profit in the fiscal year ending Dec 31, 2007 includes unrealized gains of KD 2,675,329 and outstanding total expenses from transactions amounting to KD 198,000.

Kuwait Stock Exchange announces that the company board of Al Oula Fuel Marketing Company had met on Sunday, March 09, 2008 approved and adopted the financial statements of the company for the financial year ending Dec 31, 2007, earning a profit of KD 4,040,294 with EPS of 13.48 Kuwaiti fils.

The Council recommended distribution of cash dividends 10 percent of the nominal value of shares of 10 Kuwaiti fils per share.

Note that these recommendations are subject to approval by the general assembly of the company and the competent authorities.

The Board of Directors of the Al-Ahleia Group Holding had met on Sunday March 09, 2008 approved and adopted the financial statements of the company for the financial year ending Dec 31, 2007, earning a profit of KD 20,295,733 with EPS valued at 21.17 Kuwaiti fils. While for the year ending Dec 31, 2006 the company earned a profit of KD 12,051,311 with EPS of 14.30 Kuwaiti fils. The net profit includes unrealized gains of KD 7,412,645, unrealized revenue worth KD 3,691,633 and outstanding expenses from transactions amounting to 467,590.