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
 Jan 29 2015 - HH the Emir Receives Phone Call from Ban Ki-moonQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani on Thursday received a phone call from the United Nations Secretary-General, Ban Ki-moon, during which he thanked HH the Emir on the ...

 Jan 29 2015 - Consumer spends on pharma products to increase to Dh5.03b by 2020Khaleej Times
(MENAFN - Khaleej Times) Dubai € Consumer expenditure on pharmaceutical products, medical appliances and equipment in the UAE has experienced a strong increase and is forecast to be valued around ...

 Jan 29 2015 - UAE- Time to put cyber security on top priorityKhaleej Times
(MENAFN - Khaleej Times) Kaspersky lab solutions block millions of attacks across the globe, which clearly indicates that cyber criminals are smart, but not smarter than security providers.This was ...

 Jan 29 2015 - Indian business council honours Emirati businessmenKhaleej Times
(MENAFN - Khaleej Times) Dubai - The Indian Business and Professional Council (IBPC) hosted a reception on the occasion of the 66th Republic Day of India at the Oberoi Hotel, Business Bay, on Sunday. ...

 Jan 29 2015 - UAE, Canada discuss ways to boost tradeKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade, received a Canadian delegation led by Martin Zablocki, CEO of the Canadian ...

 Jan 29 2015 - Emirates NBD facilitates Stanbic in $85 million loan facilityKhaleej Times
(MENAFN - Khaleej Times) Al Ahli Bank of Kuwait and Standard Chartered Bank joined the transaction as mandated lead arrangers while Al Khalij Commercial Bank and The Commercial Bank of Qatar ...

 Jan 29 2015 - NBAD profit jumps 28% in 2014Khaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - A strong growth in incomes from interest and non-interest based revenues bolstered the National Bank of Abu Dhabi (NBAD) profits to Dh1.372 billion in the quarter ...

 Jan 29 2015 - UAE pharma spend to hit Dh5 billion by 2020Khaleej Times
(MENAFN - Khaleej Times) It is also forecasted to increase at a compound annual growth rate (CAGR) of about 9.78 per cent from 2014 to 2020 as, by then, the value of consumer expenditure on ...

 Jan 29 2015 - Parents happy with children's educationKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi: A survey by the Abu Dhabi Education Council (Adec) has revealed that parents across the emirate are satisfied with their children's schools. The education ...

 Jan 29 2015 - Customers continue winning at Malabar Gold 1amp Diamonds FestivalArab News
(MENAFN - Arab News) Customers continue to win at Malabar Gold & Diamonds' ongoing gold and diamond festival.The jewelry retailer's 4th edition of Malabar Gold & Diamonds Festival in the GCC ...

more...


 






Google

Internatinal Property Show

 
 

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