KUWAIT, Jan 28 (KUNA) -- Kuwait Gazette, the official state newspaper, Monday reported the founding of four new companies with an overall capital of KD 62 million.
The shareholding insurance "Al-Fajr Co," that abides by the Islamic Shariaa (law), was established with a capital of KD 50 million.
"The Islamic Finance House for Energy," that also works in line with the shariaa, was founded with a capital of KD 10 million, of 100 million shares, each valued at 100 fils. It is specialized in services for the oil sector, carries out maintenance and other services concerning generating and distributing electric power and water.
"The National Modon Real-Estate" is also a shareholding company with a capital of KD one million, with 10 million stocks, each valued at 100 fils. It deals in properties in and outside Kuwait, manages plots, prepares studies, offers consultation and carries out maintenance.
"The International Projects Holding" is a shareholding company with a capital of KD one million, of 10 million shares, each valued 100 fils. It trades in ownership of companies, shares, stakes and offers loans.
The Gazette said the new companies can invest their financial surplus in financial portfolios, managed by specialized companies.
