14 February 2008
KUWAIT : The Board of Directors of Commercial Facilities Company (CFC) has obtained approval from the Central Bank of Kuwait (CBK) on its annual financial statements for the fiscal year ending Dec 31, 2007. The company's profits are estimated at KD 36,480,000 with per share valued at 74 fils compared to KD 29,067,000, which is equivalent to 58 fils per share for the fiscal year ending Dec 31, 2006. The net profits include an unrealized amount of KD 2,751,000. No revenues were recorded and the total expenses was KD 540,000. The company met on Feb 13 to discuss the distribution of profits.
The Board of Directors of Independent Petroleum Group (IPG) met on Feb 12, 2008 and approved the company's annual financial statements for the fiscal year ending Dec 31, 2007.
Profits posted within the abovementioned period are estimated at KD 6,724,584 with per share valued at 44.51 fils compared to KD 6,089,940, which is equivalent to 40.02 fils per share for the fiscal year ending Dec 31, 2006. The net profits include an unrealized amount of KD 1,559,155. The total revenues recorded was KD 49,401,326 and the total expenses was KD 48,548,241.
The Board has also recommended the distribution of cash dividends to the existing shareholders by 30 per cent of the nominal value of the share, which is equivalent to 30 fils for each share.
Note that this recommendation is subject to the approval of the general assembly and other competent authorities.
The Board of Directors of Munshaat Real Estate Projects Company (Munshaat) met on Feb 12, 2008 and endorsed the company's interim financial statements for the last three months ending Dec 31, 2007.
The company posted profits of KD 4,956,619 with per share valued at 15.39 fils compared to KD 13,532,157, which is equivalent to 42.02 fils per share for the fiscal year ending Dec 31, 2006. The net profits include an unrealized amount of KD 829,921. The total revenues recorded was KD 3,627,483 while the total expenses amounted to KD 897,459.
The Board of Directors of Al-Kout Industrial Projects Company (AL-KOUT) met on Feb 12, 2008 and endorsed the company's annual financial statements for the fiscal year ending Dec 31, 2007.
The company's profits are estimated at KD 3,749,128 with per share valued at 42.51 fils compared to KD 2,295,024, which is equivalent to 26.02 fils per share for the fiscal year ending Dec 31, 2006. The net profits include unrealized losses of (KD 62,701).
In addition, the Board has recommended the distribution of cash dividends to the existing shareholders by 35 per cent of the nominal value of the share, which is equivalent to 35 fils for each share.
Note that this recommendation is subject to the approval of the general assembly and other competent authorities.
The Board of Directors of Kuwait Financial Center (KFC) met on Feb 13, 2008 and endorsed the company's financial statements for the fiscal year ending Dec 31, 2007 as follows:
* distribution of cash dividends to the existing shareholders by 25 per cent of the nominal value of the share, which is equivalent to 25 fils per share.
* distribution of bonus shares by 15 per cent of the paid capital, which is equivalent to 15 shares for every 100 shares.
KUWAIT : The Board of Directors of Commercial Facilities Company (CFC) has obtained approval from the Central Bank of Kuwait (CBK) on its annual financial statements for the fiscal year ending Dec 31, 2007. The company's profits are estimated at KD 36,480,000 with per share valued at 74 fils compared to KD 29,067,000, which is equivalent to 58 fils per share for the fiscal year ending Dec 31, 2006. The net profits include an unrealized amount of KD 2,751,000. No revenues were recorded and the total expenses was KD 540,000. The company met on Feb 13 to discuss the distribution of profits.
The Board of Directors of Independent Petroleum Group (IPG) met on Feb 12, 2008 and approved the company's annual financial statements for the fiscal year ending Dec 31, 2007.
Profits posted within the abovementioned period are estimated at KD 6,724,584 with per share valued at 44.51 fils compared to KD 6,089,940, which is equivalent to 40.02 fils per share for the fiscal year ending Dec 31, 2006. The net profits include an unrealized amount of KD 1,559,155. The total revenues recorded was KD 49,401,326 and the total expenses was KD 48,548,241.
The Board has also recommended the distribution of cash dividends to the existing shareholders by 30 per cent of the nominal value of the share, which is equivalent to 30 fils for each share.
Note that this recommendation is subject to the approval of the general assembly and other competent authorities.
The Board of Directors of Munshaat Real Estate Projects Company (Munshaat) met on Feb 12, 2008 and endorsed the company's interim financial statements for the last three months ending Dec 31, 2007.
The company posted profits of KD 4,956,619 with per share valued at 15.39 fils compared to KD 13,532,157, which is equivalent to 42.02 fils per share for the fiscal year ending Dec 31, 2006. The net profits include an unrealized amount of KD 829,921. The total revenues recorded was KD 3,627,483 while the total expenses amounted to KD 897,459.
The Board of Directors of Al-Kout Industrial Projects Company (AL-KOUT) met on Feb 12, 2008 and endorsed the company's annual financial statements for the fiscal year ending Dec 31, 2007.
The company's profits are estimated at KD 3,749,128 with per share valued at 42.51 fils compared to KD 2,295,024, which is equivalent to 26.02 fils per share for the fiscal year ending Dec 31, 2006. The net profits include unrealized losses of (KD 62,701).
In addition, the Board has recommended the distribution of cash dividends to the existing shareholders by 35 per cent of the nominal value of the share, which is equivalent to 35 fils for each share.
Note that this recommendation is subject to the approval of the general assembly and other competent authorities.
The Board of Directors of Kuwait Financial Center (KFC) met on Feb 13, 2008 and endorsed the company's financial statements for the fiscal year ending Dec 31, 2007 as follows:
* distribution of cash dividends to the existing shareholders by 25 per cent of the nominal value of the share, which is equivalent to 25 fils per share.
* distribution of bonus shares by 15 per cent of the paid capital, which is equivalent to 15 shares for every 100 shares.
Note that this recommendation is subject to the approval of the general assembly and other competent authorities.
Yiaco Medical Company (YIACO) has signed a contract with the Ministry of Defense to supply medicines at a value of KD 929,000 for one year.
© Arab Times 2008
