KUWAIT CITY, March 14, (Agencies): National Invest-ment Company (NIC) announced realizing KD 6.1 million in profit for the fiscal year ending December 2012, compared to a loss of KD 27.3 million the year before.
The company’s release, made available on the Kuwait Stock Exchange website Thursday, said Shareholder equity came to KD 183.3 million, up from the previous year’s KD 176.8 million.
Assets till end of 2012 stood at KD 189.8 million, with liabilities recording KD 6.47, compared to KD 23.8 million in 2011.
Established in 1987, National Investments Company (NIC) is a leading Kuwaiti investment house publicly traded on the Kuwait Stock Exchange and licensed and regulated by the Central Bank of Kuwait.
With paid-in-capital of KD 87.622 million, NIC is an active player in various sectors of the local, Arab and international markets. The company boats a large and diversified shareholder base and includes some of Kuwait’s most prominent institutions and high net-worth individuals.
 

Kuwait Stock Exchange announced that the Board of Directors of Al-Enma’a Real Estate Development Company (ERESCO) met on March 14, 2013 and approved interim financial statements for the three months period ending Jan 31, 2013.
Particulars (3 months    Jan 31,    Jan 31,
ending)     2013    2012
Profit (Loss) (KD)     474,239    448,208
Earnings per share (fils)     1.05    0.99
Total current assets     28,376,050    22,113,028
Total assets     97,898,325    82,235,072
Total current liabi-
lities     38,699,087    20,772,342
Total liabilities     41,690,390    28,452,190
Total shareholders’
equity     56,207,935    53,782,882
The total expenses from transactions with related parties amounts to KD 697,697 and total revenue from transactions is worth KD 767,769.
 

Kuwait Stock Exchange announced that the board approved Al Salam Group Holding Company’s (Al-Salam) annual financial statements of the company for the year ending Dec 31, 2012, dated March 13, 2013.
Particulars     Dec 31,    Dec 31,
     2012     2011
Profit (Loss) (KD)     2,492,885    4,047,593
Earnings per share
(fils)     10.74    17.45
Total current assets     6,572,422    9,651,064
Total assets     35,931,518    33,610,704
Total current liabi-
lities     2,171,301    5,667,547
Total liabilities     2,276,483      5,671,821
Total shareholders’
equity     33,629,449    27,938,883
The total revenue from transactions with related parties is worth KD 241,815.
The Board recommended distribution of bonus shares of 7% of the paid-up capital 7 shares for every 100 shares for the fiscal year ending Dec 31, 2012. Note that these recommendations are subject to approval by the shareholders and the competent authorities.
 

Board approved Palms Agro Production Company (PAPCO) annual financial statements of the company for the year ending Dec 31, 2012, dated March 13, 2013.
Particulars     Dec 31,    Dec 31,
     2012     2011
Profit (Loss) (KD)     492,535    451,902
Earnings per share
(fils)     9.41    8.64
Total current assets     7,704,573    7,880,297
Total assets     11,367,727    10,693,389
Total current liabi-
lities     2,410,908     1,702,298
Total liabilities     2,895,838      2,208,272
Total shareholders’
equity     8,471,889      8,485,118
Total expenses from transactions with related parties amounts to KD 77,125.
The Board recommended distributing cash dividends of 10% of the nominal value of the shares 10 fils per share for the fiscal year ending Dec 31, 2012. Note that these recommendations are subject to approval by the shareholders and the competent authorities. 
 

Board of Directors of Boubyan International Industries Holding Company (BIIHC) met on March 14, 2013 and approved interim financial statements for the six months period ending Jan 31, 2013.
BIIHC incurred a loss of KD 170 thousand for the three months ending Jan 31, 2013 as compared to a loss of KD 1,691,057 incurred during the same period of 2012.
Particulars (6 months    Jan 31,     Jan 31,
ending)    2013    2012
Profit (Loss) (KD)     (379,305)    (2,579,402)
Earnings per share
(fils)     (1.26)    (8.60)
Total current assets     7,125,547    10,639,419
Total assets     43,939,717    59,380,274
Total current liabi-
lities     3,599,211    7,086,448
Total liabilities     4,821,229    13,854,161
Total shareholders’
equity     39,118,488    45,526,113
The total expenses from transactions with related parties amounts to KD 74,275 and total revenue is worth KD 75,494.

Central Bank of Kuwait (CBK) approved on March 13, 2013 the request of Gulf Bank of Kuwait (GBK) to buy back or sell 10% maximum of its issued shares for further 6 months ending Oct 14, 2013.
GBK should abide by CBK buyback rules and regulations, in addition to the provisions of Article No. 115 bis of Corporate Law. It should also comply with the provisions of Ministerial Decree No. 10/1987 and its amendments, by virtue of Ministerial Decrees No. 11/1988 and 273/1999.

Central Bank of Kuwait (CBK) approved on March 13, 2013 the request of Kuwait International Bank (KIB) to buy back or sell 10% maximum of its issued shares for further 6 months ending Sep 16, 2013.
The bank should abide by CBK buyback rules and regulations, in addition to the provisions of Article No. 115 bis of Corporate Law. It should also comply with the provisions of Ministerial Decree No. 10/1987 and its amendments, by virtue of Ministerial Decrees No. 11/1988 and 273/1999.