Tuesday, Sep 13, 2011
BEIRUT (Zawya Dow Jones)--Kuwait's A'ayan Leasing and Investment Co. expects to achieve the central bank's requirements for financial leverage by June 2012, Kuwait-based Al Qabas daily reports Tuesday, citing Mansour Al Mubarak, the company's chief executive.
A'ayan's financial leverage, or debt-to-equity ratio, is currently more than 19, compared with the required leverage ratio of 2, the paper reports.
The company will be able to reduce its debt over the coming months and its shareholders' equity is expected to grow to between 80 million Kuwaiti dinars ($290.5 million) and KWD90 million, Mubarak told Al Qabas.
A'ayan's shareholders' equity stood at KWD7.25 million at the end of 2010, according to Zawya.com.
Newspaper website: http://www.alqabas.com.kw/Article.aspx?id=733830&date=13092011
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
13-09-11 0714GMT
