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
 Jul 26 2016 - Dubai's DP World holds 31.4m TEU globallyMENAFN
(MENAFN) Dubai-based marine terminal operator DP World proclaimed that it handled 31.4mn twenty-foot equivalent units amid its global portfolio of terminals.Furthermore, gross container volumes ...

 Jul 26 2016 - Morocco Telecom's income up 3.2 percentMENAFN
(MENAFN) The net income of Maroc Telecom Group increased by 3.2 percent in the first half of this year to reach USD0.3bn.On the other hand, the improvement was driven by the group's global ...

 Jul 26 2016 - Abu Dhabi rents decline in Q2, 2016MENAFN
(MENAFN) Abu Dhabi's real estate market viewed a decline after 18 months of stable conditions, with rents in Q2 of this year dropping.Accordingly, the country's market may see a downward trend soon, ...

 Jul 26 2016 - Hotel occupancy rates in Mideast fall to 48.9%MENAFN
(MENAFN) According to STR, hotels in the Middle East stated mixed results during the past month, posting a 16.3% decrease to 48.9% in occupancy compared to the same month last year.In Ramadan, ADR ...

 Jul 26 2016 - IDA approves 180 projects worth USD 338mnMENAFN
(MENAFN) Egyptian Industrial Development Authority (IDA) agreed for 180 industrial projects with an investment to cost of USD 337.9 million, during June 2016.Industry Minister clarified that 180 ...

 Jul 26 2016 - Industrial sector in Qatar increases by 2.5% in May.MENAFN
(MENAFN) Qatar's industrial sector showed an increase of 44.9 points, a growth of 2.5 percent, compared to the previous month.This flow was attributed to the improvement in the performance of ...

 Jul 26 2016 - Government services should exceed expectations of customers, says Mohamed bin ZayedEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 25th July, 2016 (WAM)--His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed ...

 Jul 26 2016 - Two Saudi pilots killed in helicopter crash in MaribEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) JEDDAH, 25th July, 2016 (WAM)--The Arab Coalition Forces Command announced today the martyrdom of the two Saudi pilots in the Apache helicopter crash due to ...

 Jul 26 2016 - Vice Custodian of Two Holy Mosques holds talks with US officialEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) JEDDAH, 25th July, 2016 (WAM)-- Vice Custodian of the Two Holy Mosques HRH Prince Mohammed bin Naif bin Abdulaziz stressed today the Kingdom of Saudi ...

 Jul 26 2016 - Khalifa Hospital in RAK conducts 225 operations to eradicate tumoursEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) RAS AL KHAIMAH, 25th July, 2016 (WAM)--The Sheikh Khalifa Specialty Hospital in Ras Al Khaimah has recently conducted 225 successful operations to eradicate ...

more...


 





Google

 
 

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