25 October 2007
Global Investment House 'Global' posted a net profit of $221 million for the nine months ending September 30, 2007, compared to $197 million profit for the entire year in 2006. The total revenue for Q3 2007 was put at $371 million.
Maha K. Al-Ghunaim, Global's Chairperson and Managing Director, described the nine-month period as dynamic with many developments on the investments and products sides and on all geographic fronts.
This contributed to the high revenue growth of 30 per cent, while total assets stood at $2.9 billion.
Assets Under management grew by 13 per cent since the beginning of 2007 reaching $8.4 billion thanks to capital acquired by existing investment funds and new funds launched this year, in addition to assets managed by Global.
She said Global acquired through its private equity funds a significant stake in Ajlan Bin Abdulaziz Al Ajlan & Brothers 'Ajlan', a major Saudi Arabian textile manufacturer. "The purchase of a significant stake is an important step to strengthen our relations with our clients in Saudi Arabia and to cement our presence in the lucrative Saudi market".
On Global's launch of a Real Estate Ijarah Fund, she said that the new fund thrived on two driving forces the MENA region's current economic prosperity - investment in real estate and Islamic Shari'a financing tools.
Global ended up from First Jordan company with over-subscription procedures, which was a success in terms of the large number of subscribers of (67,387), to the tune of Jordanian Dinars 224,288,004.
Al-Ghunaim said Global researches received top rankings from Euromoney magazine, cementing Global's firm belief in scientific approach to investments in the region. "Since its inception, Global saw research as valuable economic instrument which the region has lacked and we were determined to change the prevalent attitudes back then towards research in general and to what was considered taboo of some sorts in evaluating listed companies," she explained.
Al-Ghunaim thanked Global's clients and shareholders for their valuable trust and continuous support and also the efforts of the company management and staff for their in extending the benefit to shareholders. Global stock lists on the Kuwait, Bahrain, and Dubai Stock Exchanges, with branches and affiliates in Bahrain, Dubai and Abu Dhabi (UAE), Jordan, Qatar, and Sudan.
Global Investment House 'Global' posted a net profit of $221 million for the nine months ending September 30, 2007, compared to $197 million profit for the entire year in 2006. The total revenue for Q3 2007 was put at $371 million.
Maha K. Al-Ghunaim, Global's Chairperson and Managing Director, described the nine-month period as dynamic with many developments on the investments and products sides and on all geographic fronts.
This contributed to the high revenue growth of 30 per cent, while total assets stood at $2.9 billion.
Assets Under management grew by 13 per cent since the beginning of 2007 reaching $8.4 billion thanks to capital acquired by existing investment funds and new funds launched this year, in addition to assets managed by Global.
She said Global acquired through its private equity funds a significant stake in Ajlan Bin Abdulaziz Al Ajlan & Brothers 'Ajlan', a major Saudi Arabian textile manufacturer. "The purchase of a significant stake is an important step to strengthen our relations with our clients in Saudi Arabia and to cement our presence in the lucrative Saudi market".
On Global's launch of a Real Estate Ijarah Fund, she said that the new fund thrived on two driving forces the MENA region's current economic prosperity - investment in real estate and Islamic Shari'a financing tools.
Global ended up from First Jordan company with over-subscription procedures, which was a success in terms of the large number of subscribers of (67,387), to the tune of Jordanian Dinars 224,288,004.
Al-Ghunaim said Global researches received top rankings from Euromoney magazine, cementing Global's firm belief in scientific approach to investments in the region. "Since its inception, Global saw research as valuable economic instrument which the region has lacked and we were determined to change the prevalent attitudes back then towards research in general and to what was considered taboo of some sorts in evaluating listed companies," she explained.
Al-Ghunaim thanked Global's clients and shareholders for their valuable trust and continuous support and also the efforts of the company management and staff for their in extending the benefit to shareholders. Global stock lists on the Kuwait, Bahrain, and Dubai Stock Exchanges, with branches and affiliates in Bahrain, Dubai and Abu Dhabi (UAE), Jordan, Qatar, and Sudan.
© Bahrain Tribune 2007
