(MENAFN) Bahraini investment firm, Oasis Capital, logged net income of USD13.2 million in 2014, mainly after exiting an investment in CapitalSpring, a US-based speciality finance company, Gulf Daily News reported.
Reasons such as the deployment of excess funds in highly rated fiscal assets contributed in an operating income of dividends and asset management fees of USD4.4 million and interest income of USD1.5 million.
Total sale amounted to USD125 million after exiting two grand investments in 2014; one is a London student accommodation project and CapitalSpring.
Oasis Capital said it also reduced its paid-up capital by about USD63 million, which was in excess of its current requirements. Another capital reduction of about USD44 million by the end of the current quarter is also underway.
"The substantial improvement in profitability following the realisation of two important projects has allowed the company to distribute dividends and return excess capital to the shareholders," chief executive said in a statement.
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