Kuwait's Al Mal Investment mulls converting to holding company
Al Mal Investment incurred 6.2% year-on-year higher losses in Q2 2019
Kuwaiti traders are seen at the Kuwait Boursa stock market trading hall in Kuwait city, Kuwait September 16, 2019.
By Staff Writer, Mubasher
Kuwait - Al Mal Investment Company’s board of directors has approved and proposed to change the company’s position and activities to a holding firm from an investment one.
The said change was proposed during the board’s meeting on 26 September and it shall be subject to shareholders’ approval, according to a disclosure to Boursa Kuwait on Sunday.
The firm’s shareholders will be invited to an ordinary general meeting’s (OGM) to discuss the new updates.
The company further remarked that the financial impact cannot be determined at the moment.
It is worth highlighting that during the second quarter of 2019, Al Mal Investment incurred 6.2% year-on-year higher losses amounting to KWD 705,330 ($2.33 million), compared to about KWD 664,000 ($2.19 million) in Q2-18
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