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NIC posts KD 6.15m net profit in 2013; EPS 7 fils Coast Investment Co earns KD 6.75 mln last year

KUWAIT CITY, March 17: The Kuwait Stock Exchange Company announces that the Board of Directors of National Investment Company has approved the annual financial statements of the company for the financial year ended 31/12/2013, as follows:
Particulars    31/12/2013    31/12/2012
Profit (KD    6,152,599    6,101,042
EPS (fils    7    7
Total current assets     61,066,585    46,717,429
Total assets    208,458,600    197,447,819
Total current liabilities    5,084,128    4,987,369
Total liabilities    19,275,661    14,055,699
Total shareholders’ equity    189,182,939    183,392,120
The total revenue from transactions with related parties is worth KD 2,876,253
The total expenses from transactions with parties related is worth KD 1,430,426
Note that the company has obtained the approval of the Capital Market Authority on these financial statements on 16/3/2014.
The Board of Directors has recommended distribution of cash dividends of 5% of the nominal value of shares i.e. 5 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.
 

The Kuwait Stock Exchange Company announces that the Board of Directors of Coast Investment and Development Co has approved the annual financial statements of the company for the financial year ended 31/12/2013, as follows:
Particulars    31/12/2013    31/12/2012
Profit (KD)    6,757,010    875,667
EPS (fils)    2    12
Total current assets    121,603,502    108,409,387
Total assets    276,615,157    268,929,886
Total current liabilities    88,670,097    67,343,449
Total liabilities    132,383,385    131,642,109
Total shareholders’ equity    54,415,521    50,298,747
The total revenue from transactions with related parties is worth KD 139, 943
The total expenses from transactions with parties related is worth KD 1,147,052
Note that the company has obtained the approval of the Capital Market Authority on these financial statements on 16/3/2014.
The Board of Directors has recommended not distributing dividends for the financial year ended 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 National Slaughter House Co. met on Monday 17/3/2014, and approved the annual financial statements of the company for the year ended 31/12/2013 as follows:
Particulars    31/12/2013    31/12/2012
Profit (loss)(KD)    331,255    401,496
EPS (fils)    11.47    13.90
Total current assets    2,142,812    1,946,619
Total Assets    4,086,581    4,056,971
Total current liabilities    144,864    138,900
Total liabilities    213,631    168,716
Total shareholders’ equity    3,872,950    3,888,255
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 recommended distribution of cash dividends of 14% of the nominal value of shares i.e. 14 fils per share for the financial year ending December 31, 2013.
Note that these recommendations are subject to approval by the General Assembly and the competent authorities.
Sources of distributions:
Net profit for the year and retained earnings.
 

The Kuwait Stock Exchange Company announces that the Board of Directors of Wethaq Takaful Insurance Company met on Thursday 13/3/2014, and approved the annual financial statements of the company for the year ended 31/12/2013 as follows:
Particulars    31/12/2013    31/12/2012
Profit (loss)(KD)    405,290    54,275
EPS fils)    3.69    0.49
Total current assets    6,084,012    6,100,932
Total assets    12,977,613    13,322,814
Total current liabilities    245,486    430,151
Total liabilities    245,486    1,369,224
Total shareholders’ equity    11,529,332    10,801,113
The total revenue from transactions with related parties is worth KD 0.000
The total expenses from transactions with related parties is worth KD 33,000
The Board of Directors decided not to distribute dividends for the financial year ended 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 Warba Insurance Co. met on Thursday 13/3/2014, and approved the annual financial statements of the company for the year ended 31/12/2013 as follows:
Particulars    31/12/2013    31/12/2012
Profit (loss)(KD)    1,135,570    1,020,557
EPS (fils)    6.69    5.91
Total current assets    51,295,016    62,588,363
Total assets    85,230,048    98,862,121
Total current liabilities    32,213,722    44,328,350
Total liabilities    38,658,278    51,258,894
Total shareholders’ equity    46,361,327    47,427,077
The total revenue from transactions with related parties is worth KD 332,917
The total expenses from transactions with related parties is worth KD 228,828
The Board of Directors has recommended distribution of cash dividends of 7% of the nominal value of shares i.e. 7 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.
Sources of distributions:
Net profit for the year and retained earnings.

The Kuwait Stock Exchange Company announces that the AGM and EGM of Kuwait Projects Holding Company will be held on Monday 31/3/2014 at 10:00 hours at the Ministry of Commerce and Industry, to discuss the recommendation of the Board of Directors for the financial year ended 31-12-2013
Distribution of cash dividends of 20% of the nominal value of shares i.e. 20 fils per share to shareholders registered in the company records on the General Assembly.
Distribution of bonus shares by 5 % of the paid-up capital (5 shares for every 100 shares) to shareholders registered in the company records on the third working day after the measures of declaration.
The election of members to the Board of Directors for the next three years and to discuss other items on the agenda
Note that this recommendation is subject to approval by the General Assembly and with no objection from the Board of Directors and regulatory authorities.
 

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