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Al Safat Online
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Waleed Al Sharhan, the Chairman and
Managing Director of Al Safat Investment Company, has announced
the realization of net profits for the interim financial term
ended on 31 March 2008 amounting to KD 15,054,494 in comparison
with the amount of KD 5,748,945 as net profit of the same term
of the last year 2007.
The company has realized growth of 162% in the net profit
compared with the same term of the year 2007 as the company has
realized profit for each share of Fils 34,28 compared with Fils
13,23 for the same term of the year 2007.
These results have established the success of the methodology of
the company through realizing the best returns to its
shareholders on the long run with such market competition which
qualified the company to win the best investment opportunities
and funds management.
He also declared that the company has many projects and
opportunities under process which will realize the best results
in the next phase of the year, God willing.
Furthermore, he announced that the company is about to list
certain associated companies in the parallel market during the
next period, and this undoubtedly will reflect on the
shareholders’ equity in Al Safat Investment Company. This
demonstrates the concern of the company to invest the funds of
the company in the best investment opportunities, maximize the
return on capital and maintain the shareholders’ equity.
The financial indexes were as follows as the net profit of the
company for the first quarter of year 2008 has reached to KD 15
millions compared with KD 5,7 millions of the same term of the
year 2007 with growth rate of 162%.
The company has realized share profit for the first quarter of
2008 reached to Fils 34 per share compared with profit of Fils
13 for year 2007 with growth rate of 159%.
Furthermore the assets of the company have risen on 31.03.2008
to KD 218 millions compared with KD 88 millions as on 31.03.2007
with growth rate of 148%.
Also, the shareholders’ equity has risen on 31.03.2008 to KD 95
millions compared with KD 51 millions as on 31.03.2007 with
growth rate of 88%.
We pray God for success and soundness.
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Al Safat Investment Company has
announced the completion of placement process for appreciation
of the capital with considerable success and is proud of the
confidence given to is from its shareholders.
Mr. Waleed Al Sharhan – Chairman and Managing Director – stated
that pursuant to the resolution of the general assembly of the
company held on 26 March 2008 to appreciate the capital of the
company, the amount of KD 107,330,370 (Kuwaiti Dinars one
hundred seven millions three hundred thirty thousand three
hundred seventy only), equals Dollars 405 millions (US Dollars
four hundred five millions) has been collected. This amount
represents the confidence of shareholders and investors in the
company and its activities as the capital of the company has
reached after appreciation to KD 77,158,500 (Kuwaiti Dinars
seventy seven millions one fifty eight thousand five hundred).
The shareholders’ equity has reached after appreciation to KD
208,250,000 (Kuwaiti Dinars two hundred eight millions two
hundred fifty thousand) and the book value of each share has
reached to Fils 270 (Fils two hundred seventy) per share.
Waleed Al Sharhan added that Al Safat is proceeding to invest
the capital appreciation amount to finance the qualitative and
geographical expansion plans prepared by the company in the
markets of the region, Arab Republic of Egypt, Kingdom of Saudi
Arabia, United Arab Emirates and East Asia, furthermore it
endeavors to expand in other countries.
Furthermore Al Safat will enhance its leadership through
expansion in ownership and acquisition of promising activities
consistent with its expansion plans inside Kuwait and abroad.
Also the capital appreciation amount will be used in the
presentation of new financial products and different funds
managed by the company to enhance the continuous growth of the
volume of its assets managed by the company currently and in
future. This will assist the company to diversify the financial
products through presentation of finance services, term sale and
its value added derivatives and particularly the concentration
on the management of assets and multiple financial services
which have high demand in the region and present opportunities
to establish the success.
Waleed Al Sharhan added that 135 millions (one hundred thirty
five millions) shares have been allotted as 50 millions (fifty
millions) therefrom have been allotted to Al Safwa Holding
Company, 50 million (fifty million) shares for Al Safat
International Company and 35 millions (thirty five million)
shares for Pico Investment Company – Egypt.
Mr. Waleed Ahmed Al Sharhan, Chairman and Managing Director of
Al Safat Investment Company, has concluded his statement by
thanks and appreciation to shareholders for their valuable
confidence that reflects the good reputation and honesty of Al
Safat as well as the strength and soundness of its position
among investment companies that qualified it to reach to this
peak of success by the grace of God and confidence of
shareholders.
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Al Safat possesses 10%
of Al Qudra Holding Company
We have the pleasure to announce the possession of 60 million
shares equal 10% of Al Qudra Holding Company in Abu Dhabi as Al
Safat Investment Company has acquired through third party 100%
of a portfolio owns 10% of Al Qudra Holding Company in Abu Dhabi
for an amount of UAE Dirham 600 six hundred millions which
equals Kuwaiti Dinars forty six millions approximately.
The steps of Al Safat Investment Company are going in serenity,
confidence without exaggeration and noise. Whereas we are
seeking for growth, thus the only option that we have is to
possess main shares in the existing, active and promising
companies as we are leaving our projects speak. The results of
our work are the standard of rendering judgment concerning us.
We are giving our most concern to the strategic aspect of our
investments as the projects are considered carefully according
to the practiced scientific principles and in conformity with
the international rules and international accounting principles.
Al Safat is proud to have national youth cadres and experiences
represent the real supporter for the growth and development of
the company and contributing in realizing its success, thank
God!
The company has established its considerable commitment toward
its shareholders and it succeeded to achieve distinct growth in
profits in the third quarter of the current year as it reached
to 212% in comparison with the same period of the last year.
This has resulted from the confidence of investors in the
projects of the company, this event encouraged the company to
establish an ambitious plan to duplicate its investment
portfolio during the coming three years 2008/2010 as the company
intends to carry out regional and qualitative expansion during
the next period.
This investment in a leading capital (Abu Dhabi) and through a
leading company (Qudra) represents the first gains of this
ambitious plan which established after investment, financial,
geographical and qualitative deliberate study that revealed the
current and promising future importance of Abu Dhabi being the
federal capital of United Arab Emirates, the sovereign center of
the State, the financial momentousness center and which have the
geographical expansion as well as the promising and considerable
developmental projects and infrastructure projects that are
carried out under the direct supervision and close follow up by
the First Lieutenant General His Highness Sheikh/ Mohamed Ben
Zayed Al Nahian, may God protect him, with the participation of
his brothers Their Highness the Sheikhs. The projects aim to
make Abu Dhabi the first point that attracting investors in the
region during the next few years and due to the hospitality and
cooperation addressed to us from Their Highness the Sheikhs and
the readiness to remove all obstacles facing investors as well
as the kind cooperation, transparency and openness that we have
witnessed from the considerable investors in Al Qudra Holding
Company and the management of the company represented in the
chairman, managing directors and their colleagues the members of
the board of directors, all these leaded to the success of our
task to know all activities of the company, its affiliates,
associates, future plans, fair values of company’s assets which
are the decisive criterion to choose a leading company as Al
Qudra Company enjoys multiple and different real-estate and
investment assets inside and outside the State and have high
financial competence as the capital of the company is Dirham 600
millions divided in to 600 million shares, the nominal value of
each is one Dirham and the market value of each share has exceed
twelve Dirham. Pursuant to the recent assessments, the fair
value of the company has reached to (9) nine billions Dirham
i.e. ranging from 14 to 15 Dirham for each share, this reflects
the distinct assets that forming the portfolio of the company.
It is worth mentioning to indicate that the company has been
established in 2005 as a private holding investment company and
it is expected to list the company the stock exchange during the
first quarter of 2008, God willing. Based on this investment and
the prevailing current rates as well as the fair assessment of
the company that ranging within (9) nine billion Dirham, Al
Safat Company may register profits at the end of the year
ranging from one hundred twenty to one hundred fifty millions
Dirham as unrealized profits i.e. equal eleven millions Kuwaiti
Dinars, God willing.
Undoubtedly this investment will create a cooperation relation
and strategic partnership between both parties to enter multiple
projects in Kuwait, Emirates and the region. This cooperative
spirit has embodied firstly in the possession by Al Qudra
Holding Company of 15% in Asia Holding Company K.S.C which is
currently under marketing by Al Safat Investment, furthermore
the current activity of Al Safat Investment Company in United
Arab Emirates is not limited to this leading investment but the
company is studying, through cooperation with relevant parties,
many other opportunities of financial, real-estate and service
aspects that will be announced as soon as the realization of the
desired targets, God willing.
Al Safat Investment Company assesses the volume of its expected
investments up to the end of 2008 in Abu Dhabi to be 2 billions
Dirham approximately, God willing, in accordance with the lofty
directions of His Highness Sheikh/ Sabah Al Ahmed Al Jaber Al
Sabah, the Amir of the State of Kuwait, may God protect him, and
his brother His Highness Sheikh/ Khalifa Ben Zayed Al Nahian,
the president of United Arab Emirates, may God protect him, to
support the joint gulf cooperation.
Finally: Our perspicacious vision …… determines our targets
Slogan we have chosen with full confidence and with success
granted by God, on this methodology we are going and by the
confidence of our shareholders we stepping to promising flourish
future.
Peace be upon you
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Walid Ahmed Al Sharhan, Chairman and
Managing Director of Al Safat Investment Company, announced that
the company has realized net profits for the progressive
financial period ended on 30 September 2007 reached to KD 15.012
millions in comparison with KD 4.817 millions as net profits for
the same period in the last year 2006.
The company has realized a growth in net profits at 212% in
comparison with the same period in the last year 2006. Thus, the
company has realized a profit of Fils 50 for each share in
comparison with Fils 20 for the same period of year 2006.
These results have established, thank God, the correct
methodology followed up by the company to realize the best
returns for its shareholders on the long run under the market
competition that enabled the company to acquire the best
investment opportunities and funds management.
He declared also that the company has many projects and
opportunities under process as they will be reflected positively
with the best results in the next phase of this year, God
willing, particularly the company has acquired in the second
quarter of this year the process of restructuring certain
associated companies and possession of other companies to
complete the medium and long term plan determined by the
company.
Furthermore, he declared that the company is about to list
certain associate companies in the parallel stock exchange
during the next period and this will certainly reflect on the
equities of shareholders in Al Safat Investment Company. This
will reveal the interest of the management to invest the funds
of the company in the best investment opportunities and maximize
the capital return as well as take care of shareholders’
equities.
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Walid Ahmed Al Sharhan, Chairman and
Managing Director of Al Safat Investment Company, announced that
the company has realized profits in the 1st quarter of 2007
reached to KD 5.750 million in comparison with the amount of KD
1.261 million for the same period in the last year.
The growth rate reached to 356% and each share realized Fils
19,20 on the new capital amounting KD 30.294 millions. These
results, thank God, evidenced the correct methodology of the
company to realize the best returns for its shareholders on the
long run under the market competition that qualified the company
to win the best investment opportunities and securities
management.
Furthermore, he declared that the company has many projects and
opportunities in process that will reflect positively the best
results in the next stage of this year, God willing,
particularly the company has restructured in the 2nd quarter of
this year certain affiliated companies and acquired other
companies to fulfill the plan established for the company on the
medium and long term.
Also, he declared that the company is about to list certain
affiliated companies in the parallel market within the next
period that will reflect undoubtedly on the rights of
shareholders in Al Safat Investment Company. This will set out
the compliance of administration to invest the funds of the
company in the best investment opportunities and enhance the
return on capital as well as protect the shareholders' rights.
We pray to God for success and rightness.
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Abdullah Al Shaheen is the CEO of Al Safat
Investment Co.
Walid Al Sharhan, Chairman and Managing Director of Al Safat
Investment Company, announced that Mr. Abdullah Ahmed Al Shaheen
has joined the executive staff of the company in the position of
"CEO" and wished to him success and prosperity to contribute by
his experience in supporting the journey and success of Al Safat
Companies Group. Abdullah Al Shaheen has a wide experience of 15
years, he spent most of them in banking sector and participated
in many finance, investment and restructuring operations in
different sectors as well as managed a group of local and
international commercial, industrial and financial activities.
Abdullah Al Shaheen obtained the Bachelor Degree in Commerce -
Accounting - Kuwait University as well as loans auditor
certificate. He participated in many training courses and
conferences relating to investment and finance locally and
internationally.
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