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SRE records KD 16.01 mln profit in 2013; EPS 32.3 fils KCIC earns KD 1.03 mln in 2013

 KUWAIT CITY, March 11: The Kuwait Stock Exchange Company announces that the Board of Directors of Salhiya Real Estate Co. (SRE) met on Monday, 10/3/2014, and approved the annual financial statements of the company for the year ending 31/12/2013 as follows:

Particulars 31/12/2013 31/12/2012
Profit (loss)(KD) 16,010,674 8,254,536
EPS (fils) 32.3 16.7
Total current assets 18,508,339 19,145,378
Total assets 274,275,297 277,781,356
Total current liabilities 20,051,179 22,969,809
Total liabilities 131,069,057 144,908,921
Total shareholders’
equity 140,215,562 130,184,377
The total revenue from transactions with related parties is worth KD 0.000
The total expenses from transactions with related parties is worth KD 401,365 
The Board of Directors has recommended distribution of cash dividends of 20 percent of the nominal value of shares i.e. 20 fils per share for the financial year ending Dec 31, 2013.
Note that these recommendations are subject to approval by the General Assembly and the competent authorities.
 
 
KCIC, which specializes in investments in domestic demand-driven sectors in Asia, today announced a net profit of KD1.03 million for the year 2013, with an earnings per share of 1.30 fils and a return on equity of 1.12% for 2013. The company reported KD7.80 million in revenues, while its net assets stood at KD96.57 million at the year ending on December 31, 2013.
 KCIC Vice Chairman and CEO, Ahmad Abdlatif Al-Hamad said, “Despite the rapid changes that took place on the global economic level in 2013, including the development of new sources of energy in the US and the continued political instability in the region, Asia’s strong fundamentals remained unaffected and continued to offer profitable opportunities.”
 
Al-Hamad added, “We look forward to successfully continue assisting leading institutions as well as individual investors to access these opportunities as we act as their Gateway to Asia.”
KCIC has a long-term view on its strategy to become one of the leading asset managers in the region focusing on Asia.  The company has one of the healthiest balance sheets amongst its peers utilizing no leverage and has built a world class platform with talented individuals and cutting edge systems and processes.
Al-Hamad said, “We look forward to a more successful year in 2014, as we remain fully convinced that Asia will continue to be the main driver for global growth and bringing with it exciting investment opportunities to capitalize on.”
Listed on the Kuwait Stock Exchange, KCIC invests in domestic demand driven sectors in Asia, namely energy, real estate, healthcare, infrastructure, financial services and consumer related services.
 
 
The Kuwait Stock Exchange Company announces that the Board of Directors of Kuwait National Cinema Co. met on Monday, 10/3/2014, and approved the annual financial statements of the company for the year ending 31/12/2013 as follows:
Particulars 31/12/2013 31/12/2012
Profit (loss)(KD) 7,947,959 5,548,882
EPS (fils) 80 55.55
Total current assets 13,645,114 17,803,537
Total assets 69,237,023 70,967,548
Total current liabilities 16,688,563 22,317,758
Total liabilities 17,744,273 23,294,800
Total shareholders’
equity 51,478,591 47,656,628
 The total revenue from transactions with related parties is worth KD 2,460,135
The total expenses from transactions with related parties is worth KD 311,516 
The Board of Directors has recommended distribution of cash dividends of 49% of the nominal value of shares i.e. 49 fils per share for the financial year ending Decr 31, 2013.
Note that these recommendations are subject to approval by the General Assembly and the competent authorities.
 
 
The Kuwait Stock Exchange Company announces that the Board of Directors of Tijara & Real Estate Investment Company met on Monday, 10/3/2014, and approved the annual financial statements of the company for the year ending 31/12/2013 as follows:
Particulars 31/12/2013 31/12/2012
Profit (loss)(KD) 1,678,813 1,374,994 
EPS (fls) 4.22 3.59 
Total current assets 9,917,745 8,754,747
Total assets 47,593,174 69,955,008
Total current liabilities 4,613,427 2,975,440 
Total liabilities 13,171,725 37173,854
Total shareholders’
equity 34,421,449 32,781,154
The total revenue from transactions with related parties is worth KD 0.000
The total expenses from transactions with related parties is worth KD 0.000
The Board of Directors has decided not to distribute dividends for the financial year ending 31/12/2013. 
Note that this recommendation is subject to approval by the General Assembly and the competent authorities.
 
 
The Kuwait Stock Exchange Company announces that the Board of Directors of Al-Salam Group Holding Co. met on Monday, 03/10/2014, and approved the annual financial statements of the company for the year ended 131/12/2013, as follows:
Particulars 31/12/2013 31/12/2012
Profit (loss)(KD) 188,238 2,492,885
EPS (fils) 0.73 10.74
Total current assets 9,330,348 9,701,023
Total assets 35,779,805 35,931,518
Total current liabilities 3,188,995 2,171,302
Total liabilities 3,286,465 2,276,484
Total shareholders’
equity 32,462,043 33,629,448
The total revenue from transactions with related parties is worth KD 0.000
The total expenses from transactions with related parties is worth KD 0.000
The Board of Directors has decided not to distribute dividends for the financial year ending 31.12.2013.
Note that this recommendation is subject to approval by the General Assembly and the competent authorities.

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