Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi-KFH signs deal with Al-Omran Company   Join our daily free Newsletter

MENAFN - Arab Times - 19/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Al-Omran Company, which is one of the mega companies in Saudi Arabia, inked a financial consultation agreement with Saudi-Kuwaiti Finance House. The bank will shoulder the responsibility of executing the group's financial restructuring. Such a step highlights the bank's leading status, and underscores its abilities and organizational skills. Chairman of Al-Omran Company Mohammed Al-Omran stated after inking the deal that choosing the bank as the company's financial advisor was based on several professional and technical criteria, not to mention the bank's staff that is known for its high professionalism and extensive experience in the field of financing corporations



Meanwhile, CEO of Saudi-Kuwaiti Finance House Tarek Al-Rekheimi lauded the company for entrusting the bank with its financial restructuring, and explained that this agreement cements the bank's status in the field of offering consultations and financial services, not only in Saudi Arabia, but in the GCC region. He added that the bank will study the company's current situation and future plans, then prepare necessary recommendations to fund its expansive programs, whether through acquiring existing corporations, or private offerings to a group of strategic investors, before preparing the group for public offering. Moreover, Al-Rekheimi noted that the bank has extensive experience in the field of restructuring and funding companies, since the bank has a strategic vision to operate as a strategic financial partner with its clients, whether shareholding or family companies, in addition to companies that have clear financial plans that meet the requirements of the Saudi bourse



He mentioned that the bank is a closed Saudi shareholding company with a fully-paid capital of SR500 million, and is owned by Kuwait Finance House (KFH). KFH-Group is considered to be one of the largest Islamic banks worldwide with assets exceeding USD 50 billion. It also has accumulative experience in structuring, issuance of Sukuk, funding of projects, consolidated Islamic finances, and private investments. The bank owns a wide network of banks that stretches into Kuwait, Turkey, Malaysia, Bahrain, Jordan, and Germany; in addition to owning in Saudi Arabia KFH Real Estate Company with a capital of SR 2.5 billion



Al-Omran Company owns several factories that manufacture air-conditions, coolers, shelves, refrigerators, and plastic. The company that has been operating since 1398 Hijri, continues its efforts to develop its products to meet the growing demand of local and regional markets. The company recruits a group of experienced engineers and technicians that conduct studies. The company has recently established a research and development division to develop its products. This agreement goes hand-in-hand with the company's strategy to diversify its investments in the manufacturing field, and setup an integrated system for its factories and products




 


Arab Times




  MENA News Headlines
 Aug 29 2015 - Abraaj exists Condor Travel stake to CarlyleMENAFN
(MENAFN) Dubai-based Abraaj Group has announced the signing of an agreement to exit its stake in Condor Travel to The Carlyle Group.The exit, through Abraaj's Latin American Fund, marks the first ...

 Aug 29 2015 - GCC construction contracts to drop to USD194b in 2015MENAFN
(MENAFN) Construction in the GCC will increase in value despite a slight dip in the overall contract awards this year caused in part by cheap oil, according to an industry expert.The man behind the ...

 Aug 29 2015 - Middle East business confidence continues to drop in Q2MENAFN
(MENAFN) Business confidence in the Middle East continued to fall in the second quarter of 2015, but not as quickly as it had in the first three months of the year, according to a new survey.The ...

 Aug 29 2015 - 9 hours battling death at sea off the Libyan coastThe Peninsula
(MENAFN - The Peninsula) Pakistani teenager Shefaz Hamza spent nine hours at sea clinging to the wreckage of a migrant boat that sank off Libya. By the time the coast guard arrived his mother and ...

 Aug 29 2015 - Qatar Exchange index jumps 3.08pcThe Peninsula
(MENAFN - The Peninsula) Qatar Exchange (QE) index finished in the green yesterday, after a sharp rise in all sectors. The market gained 3.08 percent or 337.84 points to reach 11,295.46. The market ...

 Aug 29 2015 - Arabs brace for weak oil for rest of 2015The Peninsula
(MENAFN - The Peninsula) A second oil price rout of 2015 has forced Arab Opec members to cut their price expectations for this year, showing they are prepared to tolerate cheaper crude for longer to ...

 Aug 29 2015 - Lebanon- Hezbollah, Christian allies boycott cabinet meetingThe Peninsula
(MENAFN - The Peninsula) The Lebanese Shia group Hezbollah and allied Christian politicians boycotted a cabinet meeting yesterday, a sign of rising political tensions that have paralysed Prime ...

 Aug 29 2015 - IS kills two generals in IraqThe Peninsula
(MENAFN - The Peninsula) suicide attack claimed by the Islamic State (IS) group killed two Iraqi generals yesterday in the key battleground province of Anbar, as the militants made gains in ...

 Aug 29 2015 - Iraq- At least 11 Daesh Militants Killed in AnbarThe Peninsula
(MENAFN - The Peninsula) 11 Daesh militants, some of them belonging to foreign nationalities, were killed in a pre-emptive attack against a hideout of the organization east of Ramadi city, in Anbar ...

 Aug 29 2015 - At least 78 dead in Libya refugee boat disasterThe Peninsula
(MENAFN - The Peninsula) At least 76 people have died after a ship carrying hundreds of migrants and refugees sank off the coast of Libya, the Libyan Red Crescent said Friday. The United Nations ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help