Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - Markaz posts net profit of KD 7.46 mln in 2013   Join our daily free Newsletter

MENAFN - Arab Times - 25/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait Financial Centre K.P.S.C. "Markaz" announced a net profit of KD 7.46 million for the year ended 31st December 2013, Earnings per Share (EPS) of 13 fils as compared with a net profit of KD 4.04 million (8 fils per share) during the same period in 2012. Markaz's improvement in earnings came as a result of favorable returns from investments across all asset classes which represented a gain of 5.53% return on average assets as compared to 2.84% in 2012.



Markaz's total equity base increased by 7% to KD 109.18 million at the end of December 2013in comparison to KD 101.89 million at the end of 2012. Markaz's total assets under management (AUM) reached KD 975 million with an increase of 10% compared to KD 883 million as of 31st December 2012. In compliance with regulatory measures by Central Bank of Kuwait (CBK), the financial leverage ratio of Markaz reached 0.25:1 in comparison to the imposed rate by CBK of 2:1, which shows the low leverage rate of Markaz. While the quick ratio, the ratio of liquid assets due within one month should not be less than 10% of total liabilities according to CBK, Markaz's rate was 6.19%.




Those percentages reflect Markaz's strategy in maintaining a strong leverage ratio to ensure its shareholders' wealth growth. Subject to the requisite consent of the relevant authorities and approval of the General Assembly, Markaz Board of Directors recommended a cash dividend of 10 fils per share to be distributed to the shareholders of record as of the date of the General Assembly



On this occasion, Markaz's Chairman, Diraar Y. Alghanim, stated, "Markaz's solidity as a financial institution and its stable performance during these volatile investment conditions shows its ability to forecast future market trends, as dependence on research in investment activities has become a fundamental requirement to enhance the financial strength of institutions operating in the asset management and financial services industry." Alghanim added, "These good results would not have been possible without the tender and loyalty of Markaz's employees and the dedication they have towards developing dynamic investment solutions and client services under the supervision of an active and professional management.




 


Arab Times




  MENA News Headlines
 May 24 2016 - Parliament urges government to lift price of sugarcane to EGP 500 per tonneDaily News Egypt
(MENAFN - Daily News Egypt) The agriculture committee in parliament urged the government to increase the price of sugarcane by EGP 100 to EGP 500 per tonne. MP Raef Timraz told Daily News Egypt ...

 May 24 2016 - Amer Group, Porto Group witness an increase in revenueDaily News Egypt
(MENAFN - Daily News Egypt) Porto Group (PORT.CA) and AMER Group (AMER.CA), the leading investment and development of integrated real estate projects, achieved a substantial increase in consolidated ...

 May 24 2016 - 40 Lebanese companies to visit Egypt's industrial zones next weekDaily News Egypt
(MENAFN - Daily News Egypt) A delegation of Lebanese businessmen will visit industrial zones next week, according to Chemical and Fertilisers Export Council (CEC) chairperson Khaled Abou El-Makarem. ...

 May 24 2016 - Petroleum Ministry's submarine awaits arrival of French ship to locate black boxDaily News Egypt
(MENAFN - Daily News Egypt) The ROV submarine tasked with searching for the black box of EgyptAir flight MS804 in the Mediterranean awaits the arrival of a French ship equipped to receive signals ...

 May 24 2016 - Egypt's budget: optimistic aspirations and a difficult realityDaily News Egypt
(MENAFN - Daily News Egypt) Egypt’s economic ambitions aim to achieve a growth rate of 5-6.2% in fiscal year (FY) 2019/2020, and collide with the difficult reality of deteriorating security ...

 May 24 2016 - Economic growth of 5.2% in coming year realistic only with reform: Finance MinisterDaily News Egypt
(MENAFN - Daily News Egypt) Egypt aims to achieve an economic growth rate of 5.2% during the coming fiscal year according to the financial statement for the FY 2016-2017 budget, said Finance Minister ...

 May 24 2016 - In Pictures: State continues demolition of homes in Sayeda ZeinabDaily News Egypt
(MENAFN - Daily News Egypt) State security forces evacuated residents of Tal Al-Aqreb, located in Sayeda Zeinab near downtown Cairo, on Monday after which several homes were demolished. The ...

 May 24 2016 - Etisalat & Huawei collaborate to deliver first MEA 10Gbps broadband serviceMENAFN Press
(MENAFN Press) Etisalat UAE, a leading telecom service provider together with Huawei, a leading global ICT (information and communications technology solutions) provider, have announced the ...

 May 24 2016 - du selects Ericsson as IT managed services partnerMENAFN Press
(MENAFN Press) Ericsson (NASDAQ: ERIC) and du, a telecommunications operator based in Dubai, United Arab Emirates, have agreed a new long-term partnership in which Ericsson will manage and operate ...

 May 24 2016 - Empower urges customers to stay connected to district cooling service during summer period Expected to be hottest in 136 yearsMENAFN Press
(MENAFN Press) Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, urged its customers to stay connected to its district cooling services ...

more...


 





Google

Join Our Newsletter

 
 

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