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TMCNet:  Souk Al-Salmiah distributes 2013 profits - Shareholders get 25% of capital in cash [Kuwait Times]

[April 06, 2014]

Souk Al-Salmiah distributes 2013 profits - Shareholders get 25% of capital in cash [Kuwait Times]

(Kuwait Times Via Acquire Media NewsEdge) Fahad Al-Kulaib, Marzouq Al-Marzouq, Sheikh Duaij Salman Al- Sabah and Raed Jawad Bukhamseen during the general assembly meeting KUWAIT: The general assembly of Souk Al-Salmiah Real Estate Company approved a recommendation of the board of directors to distribute cash profits to shareholder equal to 25 percent of the capital during its ordinary meeting for the fiscal year 2013. The general assembly held on last Tuesday also approved the board of directors' report for the fiscal year that ended on December 31, 2013, the auditors' report, general budget, profit and loss calculations and financial transactions carried out by the board of directors. Marzouq Al-Marzouq, Chairman of Souk Al-Salmiah Real Estate Company, announced after the meeting that the company made profits equal to 47 fils per share, compared to 33.04 fils per share recorded in 2012. He added that the book value for shares increased to 225 fils per share, compared to 198 fils in 2912. Furthermore, Al-Marzouq announced that Souk Al-Salmiah Real Estate Company has entered in real estate projects in the Sabah Al-Ahmad City, including building shopping malls, as well as investing in restaurants, cafés, and entertaining activities. Fahad Al-Kulaib, Deputy Chairman and CEO of Souk Al-Salmiah Real Estate Company, said that the project recorded an occupancy rate of 98.5 percent by the end of last year, and added that 12 to 13 million people visited the market in 2013.


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