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 26.19%.



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
 Mar 2 2015 - Oman's Napco plans USD18.11m capacity expansionMENAFN
(MENAFN) National Aluminium Products Co (Napco) plans to spend USD18.11 million to boost its capacity to basically increase volumes and market share, Muscat Daily reported.The company will install ...

 Mar 2 2015 - Dubai's real estate investors shift to low cost UK propertyMENAFN
(MENAFN) Dubai real estate investors are now among the largest groups of abroad nationals purchasing low-cost investment property in the UK, according to a new property survey, Arabian Business ...

 Mar 2 2015 - Etihad-staked Air Serbia logs USD3.02m net profit in 2014MENAFN
(MENAFN) Air Serbia, in which Etihad Airways holds a stake of 49 percent, logged a net profit of USD3.02 million for 2014, Arabian Business reported.In its first year of operation, Air Serbia logged ...

 Mar 2 2015 - Dubai's Abraaj invests USD145m in North Africa healthcareMENAFN
(MENAFN) Dubai-based private equity firm Abraaj Group is set to lead an investment of USD200 million in the new North Africa Hospital Holdings Group (NAHHG), Arabian Business reported.The firm, ...

 Mar 2 2015 - Egypt received USD23b aid from Gulf in 18 monthsMENAFN
(MENAFN) Egypt received USD23 billion in aid from Saudi Arabia, the UAE and Kuwait in the 18 months since former President Mursi was ousted, Investment Minister said, Reuters reported.According to ...

 Mar 2 2015 - Arab world's healthcare sector wastes USD40b annuallyMENAFN
(MENAFN) Half of the estimated USD80 billion annual governments spending on health care sector in the Arab world are going to waste due to widespread inefficiencies, a Dubai health official said, The ...

 Mar 2 2015 - Zain KSA records USD293.16m EBITDA growth in 2014MENAFN
(MENAFN) Zain KSA posted improved financial results hitting USD293.16 million in EBITDA in 2014, up from USD237.19 million in 2013, marking 24 percent increase, Saudi Gazette reported.Zain's net ...

 Mar 2 2015 - Egypt to attract USD8b of foreign direct investment in this fiscal yearMENAFN
(MENAFN) Egypt is forecast to receive a sum of foreign direct investment worth USD8 billion in this financial year, marking an increase from the USD4 billion last year, Reuters reported.The Egyptian ...

 Mar 2 2015 - Qatar, Mitsubishi to sign USD1.09b hydroelectric dealMENAFN
(MENAFN) State-controlled Qatar Electricity and Water Company (QEWC) is set to sign a USD1.09 billion contract to build the Gulf country's largest power and water plant to Mitsubishi, Emirates 24\7 ...

 Mar 2 2015 - Egypt's Edita eyes USD262m initial offerMENAFN
(MENAFN) Egyptian food maker Edita is considering an initial offering of about USD262 million the Cairo bourse, Reuters reported.According to sources, trading is forecast to start at the beginning of ...

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