Tuesday, Feb 03, 2009
Gulf News
Dubai: Al Rayan Investment on Monday said the company had successfully increased its operating capital by 10 per cent to Dh452,715.50 owing to profits achieved in 2008. The announcement came following the company's annual general meeting (AGM), held recently in Abu Dhabi.
The board presented a particularly positive report on the year ending December 31, 2008, posting net profits of Dh183.66 million compared with Dh89 million in 2007, which represents an increase of more than double.
As a result of this, shareholders proposed the 10 per cent increase in operating capital, distributed as shares at a par value of Dh100 each. During the AGM shareholders were presented with both the board's report on 2008, as well as auditor's report and a balance sheet and profit and loss presentation for the year.
Al Rayan Investment Company is a UAE private joint stock company established in 2004.
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