KUWAIT CITY: National Real Estate Company (NREC) obtained the approval of the Central Bank of Kuwait on its financial statements dated March 31, 2009 and announced that NREC earned a profit of KD 18.2 million for the year ending 2008 with earning per share of 23.48 fils. During the same period of 2007 the company earned a profit of KD 39 million with EPS valued at 50.18 fils. The net profit includes unrealized revenue worth KD 604,036 and outstanding expenses valued at KD 233,716. During the meeting the board recommended not to distribute profits for the financial year ending Dec 31, 2008. Note that this recommendation is subject to the approval of the competent authorities.
Tamdeen Real Estate Company (TAM) reported that the Board of Directors met on Tuesday March 31, 2009 and approved the annual financial statements of the company for the financial year ending Dec 31, 2008. The company earned a profit of KD 13.5 million, which includes unrealized revenue worth KD 1,440,816 and outstanding expenses valued at KD 831,624, for the year ending Dec 31, 2008 compared to a profit of KD 11.5 million earned during the same period of 2007. The board proposed not to distribute profits for the financial year ending Dec 31, 2008. Note that this recommendation is subject to the approval of the competent authorities.
Al Shamel International Holdings Company's announced a profit of KD 1.68.4 million for the year ending 2008, which includes unrealized revenue worth KD 7,639,311 and outstanding expenses from transactions amounting to KD 6,020,273. During the corresponding year of 2007 the company earned a profit of KD 2.2 million or 75 fils per share.
Board of Directors recommended distribution of cash dividend of 27 percent of the nominal value of shares of 27 Kuwaiti fils per share and bonus shares 124 percent of the paid-up capital of 124 shares per 100 shares profits for 2008.
National Industries Company (NICBM) said that the Board of Directors met Tuesday March 31, 2009 and approved the annual financial statement for the financial year ending Dec 31, 2008. NICBM incurred a loss of KD 9.3 million (which includes unrealized revenue worth KD 329 and outstanding expenses from transactions amounting to KD 8,454,488) for the year ending 2008 as compared to a profit of KD 12.5 million earned during the corresponding year of 2007. The Board of Directors recommended no distribution of profits for the financial year ending Dec 31, 2008.
Al-Madar Finance and Investment Company (Al-Madar) obtained the approval of the Central Bank of Kuwait for their financial statements for the year ending Dec 31, 2008, dated April 1, 2009. Madar incurred a loss of KD 12 million (which include unrealized revenue worth KD 3,144,185 and outstanding expenses amounting to KD 813,936) for the year ending 2008 as compared to a profit of KD 9 million earned during the corresponding year of 2007.
Kuwait Company for Process Plant Construction and Contracting (KCPC) reported that the Board of Directors met on Tuesday March 31, 2009 and approved the annual financial statements of the company for the financial year ending Dec 31, 2008.
KCPC earned a profit of KD 1.7 million with EPS valued at 38.25 fils for the year ending Dec 31, 2008 compared to a profit of KD 1.6 million earned during the same period of 2007.
The net profit includes unrealized revenue worth KD 10,367 and outstanding expenses valued at KD 163,458.
The board recommended distribution of cash dividend of 5 percent of the nominal value of shares of 5 Kuwaiti fils per share and bonus shares 10 percent of the paid-up capital of 10 shares per 100 shares for the financial year ending Dec 31, 2008. Note that this recommendation is subject to the approval of the competent authorities.
Refrigeration Industries Company reported that the board of directors met on Tuesday March 31, 2009 and announced a profit of KD 218 thousand or 2.58 fils per share for the year ending 2008. During the same period of 2007 the company earned a profit of KD 1 million with EPS valued at 13.83 fils.
During the meeting the board proposed not to distribute dividends for the financial year ending Dec 31, 2008. Note that this recommendation is subject to the approval of the competent authorities.
Safat Energy Holding Company (Safat Energy) reported that the Board of Directors met on Tuesday March 31, 2009 and approved the annual financial statements of the company for the financial year ending Dec 31, 2008.
Safat Energy earned a profit of KD 1.5 million or 2.75 fils per share for the year ending Dec 31, 2008 compared to a profit of KD 362 thousand earned during the same period of 2007.
The net profit includes unrealized revenue worth KD 447,635 and outstanding expenses amounting to KD 21,481.
The board proposed not to distribute profits for the financial year ending Dec 31, 2008 this recommendation is subject to the approval of the competent authorities.
Kuwait Investment Company's board of directors proposed not to distribute profits for the financial year ending Dec 31, 2008. The board announced that the company incurred a loss of KD 42 million for the year ending 2008 (which includes unrealized revenue worth KD 199,062 and outstanding expenses amounting to KD 858,517). During the previous year of 2007 KIC earned a profit of KD 44.8 million with EPS valued at 81.41 fils.
Yiaco Medical Company (Yiaco) obtained the approval of the Central Bank of Kuwait for its annual financial statements for the financial year ending Dec 31, 2008. Yiaco reported a profit of KD 778 thousand (which includes outstanding expenses amounting to KD 350,184) for the year ending 2008 with earning per share of 4.72 fils. During the same period of 2007 the company earned a profit of KD 2.2 million with EPS valued at 13.8 fils.
Board of directors proposed not to distribute profits for the financial year ending Dec 31, 2008.
Al Masaken International Real Estate Development Company (Masaken) reported that the Board of Directors met on Tuesday March 31, 2009 and approved the annual financial statements of the company for the financial year ending Dec 31, 2008.
Masaken earned a profit of KD 1.7 million with EPS valued at 8.61 fils for the year ending Dec 31, 2008 compared to a profit of KD 2.5 million earned during the same period of 2007 with EPS valued at 12.97 fils. The net profit includes unrealized revenue worth KD 217,394.
The board recommended no distribution of profits for the financial year ending Dec 31, 2008. Note that this recommendation is subject to the approval of the competent authorities.
The general assembly meeting of Future Communications Company Global (FCCG) was convened on Wednesday April 01, 2009 and endorsed the recommendation of the Board of Directors to distribute cash dividend at 25 percent of the nominal value of shares (25 fils per share) and bonus shares at 5 percent of the paid-up capital (5 shares per 100 shares) for the financial year ending Dec 31, 2008. The company's shares will be traded on Thursday April 02, 2009.
Gulf Rocks Company's general assembly meeting was convened on Wednesday, April 01, 2009 and endorsed the recommendation of the Board of Directors to distribute cash dividend at 15 percent of the nominal value of shares (15 fils per share) and bonus shares at 10 percent of the paid-up capital (10 shares per 100 shares) for the financial year ending Dec 31, 2008. The shares will be traded by the company on Thursday April 2, 2009.
© Arab Times 2009
