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KCIC to take stock of current global crisis and outlines opportunities in key Asian markets at AGM

Kuwait: Tuesday, July 14 - 2009 @ 15:03

Speaking to shareholders, KCIC’s Managing Director Ahmad Al-Hamad said “we continue to see exciting opportunities in Asia across multiple sectors and businesses. We believe that the Middle East and Asia are converging and that KCIC will be able to play an important role in this convergence”.

He added,

“We see a shift of gravity from the West to the East as Asia recovers faster out of this crisis than the rest of the world. KCIC will continue to pursue attractive investment opportunities in Asia alongside strong partnerships as we have in the past. Ultimately, our objective is to continue building strong relationships to fuel sustainable growth for our partners and returns for our clients and shareholders. We remain committed to our core strategy of becoming the gateway to Asia and advising bi-lateral flows of capital between the Middle East and Asia”

At the AGM, shareholders approved the company’s 2008 financial results ending in December 31, 2008 and re-elected the board for the next three years.

KCIC is an investment company founded with a capital of KD80m in 2005 by 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 $450m. 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, July 14- 2009 @ 15:03 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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