Mayadeen records KD 1.5 mln loss in third quarter Future Communications Int’l signs two deals worth $6.19m with Huawei

KUWAIT CITY, Nov 27: Board of Directors of National Ranges Company (Mayadeen) met on Nov 26, 2012 and approved the interim financial statements for the Q3 of 2012. The company reported a loss of KD 1,546,763 for the three months ending Sept 30, 2012 as compared to a loss of KD 1,022,332 incurred during the same period ending 2011.

(9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     (4,841,519)    (3,567,161)
Earnings per share (fils)     (5.149)    (3.794)
Total current assets     67,723,123    66,793,311
Total assets     108,581,493    112,216,100
Total current liabilities     80,902,937    72,458,233
Total liabilities     81,010,212    72,555,495
Total shareholders’ equity     27,571,281    39,660,605

First Dubai Real Estate Development Company announced that the Chairman Siraj Saleh Mohammed Al Baker submitted his resignation as a board member representing Al-Mazaya Holding, effective Nov 26, 2012.
Future Communications Company (FCC) announced that its wholly owned company Future Communications International signed two contracts worth $6.19 million with Huawei Technologies Company Ltd.
Under the first 1-year contract, the company will maintain mobile towers and sites for Emirates Integrated Telecommunications (du) for $3.7 million.
Under the second 1-year contract, the company will undertake civil works for du for $2.49 million.


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