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KCIC reports its 2010 earnings

Kuwait: Tuesday, March 29 - 2011 @ 16:50

Listed on the Kuwait Stock Exchange, KCIC invests in domestic demand driven sectors in Asia, namely energy, real estate, healthcare, infrastructure, and financial services.

KCIC Managing Director, Ahmad Abdlatif Al-Hamad, said, “KCIC continues to achieve its profitable growth by focusing on its mandate across Emerging Asia. In 2010, KCIC managed significant profitability despite market volatility and lingering issues from the global financial crisis. We are proud of the achievements of the team in delivering to our shareholders attractive risk-adjusted returns and firmly believe that KCIC is well positioned for growth.”

“The Board has also recommended to refrain from any dividend distributions for 2010, as it believes that the retained earnings can be better utilized in the coming year by investing in KCIC’s franchise and growth opportunities in order to further enhance shareholder value. Asia remains to be a region with promising opportunities and a favorable investment environment to help KCIC achieve a successful year ahead,” he added.

KCIC is an investment company founded with a capital of KD80m an Emiree Decree with a mandate to develop investment opportunities in Asia towards building an Asia focused asset management company. The public company employs a team of Asian specialists and currently manages assets in excess of $243m. Key shareholders include The Kuwait Investment Authority, the Sovereign Wealth Fund of Kuwait, National Investment Company, one of the leading investment banks in the Middle East, and Al Ghanim Industries, one of the largest conglomerates in the Middle East.

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Tuesday, March 29- 2011 @ 16:50 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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