(MENAFN-Khaleej Times) rak properties, ras al khaimah?s biggest property developer listed on the abu dhabi stock exchange, recently held its annual general meeting, or agm, for 2014
The meeting, which was attended by the company’s board of directors, shareholders and investors, included the discussion of a seven-point agenda and reporting on the company’s achievements from the previous year.
The participants in the agm endorsed the decision to distribute five per cent profits or up to dh100 million and also approved the proposal to transfer dh1 billion of retained earnings to statutory and regular reserves respectively.
During the agm, the company revealed a net profit of dh151 million for fiscal year 2013, compared to aed 147 million posted in 2012.
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