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ALAFCO posts quarterly net profit of KD 4.35 mln KSE delists shares of Al Safwa

KUWAIT CITY Jan 15: Aviation Lease and Finance Company (ALAFCO) reported that the Board of Directors met on Jan 15, 2014 and approved the interim financial statements for the three months ending Dec 31, 2013.
Particulars     Dec 31, 2013    Dec 31, 2012 
Profit (Loss) (KD)    4,352,882      11,148,431
EPS (LPS) (fils)     5.58        14.30
Total current assets    79,614,194    61,647,890
Total assets    652,664,657    584,545,988
Total current liabilities    43,181,379    68,699,245
Total liabilities    467,955,994    410,151,848
Total shareholders’ equity    184,708,663    174,394,140
 The total revenue from transactions with related parties is worth KD 633,896.

Kuwait Stock Exchange (KSE) announced that the Board of Directors of Kuwait Building Materials Manufacturing Company met on Jan 15, 2014 and approved the interim financial statements for the year ending Dec 31, 2013.
Particulars     Dec 31, 2013    Dec 31, 2012 
Profit (Loss) (KD)    581,231    411,453
EPS (LPS) (fils)    19.17    13.57
Total current assets    3,352,484    3,296,058
Total assets    6,483,323    6,435,560
Total current liabilities    544,764    806,312
Total liabilities    1,024,244    1,508,863
Total shareholders’ equity    5,411,316    4,974,460
The total expenses from transactions with parties related amounts to KD 142,518.
The Board of Directors recommended distributing cash dividend of 10% of the nominal value of shares 10 fils per share for the financial year ending Dec 31, 2013. Note that this recommendation is subject to approval by the shareholders and the competent authorities.
 

Gulf North Africa Holding Company (GNAHC) announced that its 99% Kuwaiti subsidiary — Janzour for General Trading Company  signed a preliminary contract for the purchase of investment property worth KD 1.925 million based on the condition to obtain approval for the financing from local banks.
Note that this process is expected to be completed within two months from the date of signing the contract.
In the absence of the completion of the condition mentioned the contract will be considered null and void.
 The company will disclose any developments in this regard.

Kuwait Stock Exchange (KSE) announced that based on the decision of the Capital Market Authority (CMA), KSE is delisting the shares of Al Safwa Group Company (Al Safwa) as of Jan 14, 2014. The delisting was enforced after the stock had been halted for more than six months.

Kuwait Stock Exchange has suspended trading of the shares of some companies in accordance with the following: -
First: The companies that did not provide data March 31, 2013, June 30, 2013 and Sep 30, 2013: -
Flex Resorts & Real Estate (Flex)
Industrial and Financial Investments Company (IIC)
Second: The companies that did not provide data June 30, 2013 and Sep 30, 2013: -
Kuwait Pipe Industries and Oil Services Company (Pipe)
Third: The companies that incurred losses exceeding 75% or more of the capital: -
Kuwait Commercial Markets Complex Company (markets)
Fourth: Suspended companies for not distributing dividends within the time limit specified:
Al-Imtiaz Investment Group Co. (Al-Imtiaz)

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