First Investment Co (ALOLA`R)

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News

22 April 2020 03:56 PM First Investment turns to KWD 47m loss in 2019; capital cut proposed

Mubasher: First Investment Company turned to losses worth KWD 47.6 million ($153.15 million) during the fiscal year (FY) ended on 31 December 2019, against profits of KWD 239,499 ($770.370) in the previous year. The 2019 results are attributed to …

Board of Directors

28 November 2019 04:45 PM First Investment unit reaches tax settlement in Saudi Arabia

Mubasher: A First Investment Company subsidiary successfully reached an agreement with Saudi regulatory authorities to settle tax and Zakat claims, according to a statement on Thursday. The settlement will see the First Investment subsidiary …

Real estate

12 November 2019 04:24 PM First Investment profits lessen 36% in Q3

Mubasher: First Investment Company profits decreased by 36% year-on-year (YoY) during the third quarter (Q3) of 2019, according to a statement to Boursa Kuwait. In the three-month period ended 30 September, profits registered KWD 80,110, down from …

Financial Results

30 July 2019 03:56 PM First Investment turns to loss in Q2-19

Mubasher: First Investment turned to loss during the second quarter of 2019, according to a bourse statement released on Tuesday. The company’s loss reached KWD 3.27 million ($10.77 million) in Q2-19. During the first six months of the year, First …

Financial Results

16 May 2019 01:46 PM First Investment sells KWD 3.3m stake in Saudi investment

Mubasher: First Investment Company inked a deal with a local company to sell a number of shares in one of its investments in Saudi Arabia. The transaction’s total cost amounted to KWD 3.30 million ($10.88 million), according to a filing to Boursa …

Companies Investments

16 May 2019 00:08 PM First Investment records KWD 1.5m profit in Q1

Mubasher: First Investment achieved a positive turn in the financial results of the first quarter of 2019 when compared to the same free months last year. Profits totalled KWD 1.56 million ($5.14 million) in Q1-19 against losses of nearly KWD …

Financial Results

9 April 2019 02:53 PM Kuwait Awqaf pays KWD 1.8m to First Investment on court ruling

Mubasher: First Investment Company has announced that it has received a KWD 1.76 million payment from Kuwait Awqaf Public Foundation (KAPF), in addition to KWD 500 in legal fees according to a court ruling. The KWD 1.76 million will be realised in …

Management Decisions

28 February 2019 03:59 PM First Investment borrows KWD 3m to own equity in Boursa Kuwait firm

Mubasher: First Investment has signed a credit facilities contract with a local bank at a total value of KWD 3.265 million ($10.77 million).  The company noted that the purpose of this loan is owning shares in Boursa Kuwait Securities Company, …

Companies Investments

20 February 2019 02:37 PM First Investment inks KWD 3m loan deal

Mubasher: First Investment has signed a credit facilities agreement with a local bank at a value of KWD 3.265 million ($10.77 million), according to a bourse statement on Wednesday. The loan agreement was signed for First Investment to own a stake …

Companies Investments

20 March 2018 09:20 AM Kuwait’s First Investment turns profitable in Q4

Mubasher: First Investment on Tuesday announced turning a profit in the fourth quarter of 2017, against suffering losses in the year-ago period. The firm’s profits amounted to KWD 265,340 ($885,830) in Q4-17, against suffering KWD 17,140 ($57,220) …

Financial Results

22 November 2017 10:42 AM First Investment receives tax's value from Saudi unit

Mubasher: Kuwait-based First Investment on Wednesday said it received the tax value from one of its subsidiaries in Saudi Arabia, while its stake in the unit reduced to SAR 3.36 million ($897,000), from SAR 22.76 million ($6.07 million). A profit …

Company News

13 November 2017 00:05 PM First Investment Q3 profits shrink 72%

Mubasher: First Investment reported a drop of 72% in profits during the third quarter of 2017 compared to the same period a year ago. Earnings decreased to about KWD 140,720 ($465,890) in Q3-17 from nearly KWD 502,050 ($1.66 million) in Q3-16, …

Financial Results

2 August 2017 05:32 PM First Investment unit inks $5.7m deal in Oman

Mubasher: A subsidiary of First Investment in Oman has signed a credit facilities contract with a local Islamic Bank in the Sultanate for a total of OMR 2.2 million ($5.7 million). The loan will be repaid over ten years, and will be used in …

Companies Investments

1 August 2017 02:10 PM First Investment inks KWD 3.25m deal

Mubasher: First Investment has signed a contract for purchasing a stake in the Canadian Medical Center for KWD 3.25 million ($10.78 million) in instalments. The financial impact from inking this contract will be registered in the income statements …

Companies Investments

14 May 2017 00:11 PM First Investment profits surge 534% in 3M

Kuwait – Mubasher: First Investment on Sunday reported a 533.6% jump in its profits for the first quarter of 2017, compared to the year-ago-period. Profits reached KWD 284,980 ($930,400) in Q1-17, compared to KWD 44,980 ($146,900) in Q1-16, …

Financial Results

8 May 2017 02:27 PM First Investment exits stake for SAR 8.48m

Kuwait – Mubasher: First Investment has signed an agreement to sell its entire stake in an associate for SAR 8.48 million or about KWD 688,920 ($2.26 million). The company expects a net loss of about KWD 80,690 which will be registered in the …

Companies Investments

20 April 2017 05:03 PM Boursa Kuwait sees $1.2bn M&A deals in Q1

By: Eman Ghaly Mubasher: The first quarter of 2017 saw 13 merger and acquisition (M&A) deals executed at Boursa Kuwait, with a total value of KWD 366.23 million ($1.2 billion). These M&A deals included Adeptio AD Investments SPC’s compulsory …

Mergers and Acquisitions

29 March 2017 10:47 AM First Investment Q4 losses shrink 42.9%

Mubasher: First Investment posted a decrease of 42.9% in losses to about KWD 17,140 ($56,180) during the fourth quarter of 2016 from KWD 30,000 ($98,340) in the same period of 2015. During the fiscal year, the company’s profits shrank by 50.3% to …

Financial Results

16 November 2016 10:50 AM First Investment turns profitable in Q3

Kuwait – Mubasher: First Investment on Wednesday reported turning a profit in the third quarter of 2016. The company posted KWD 502,050 ($1.65 million) in profits in Q3-16, against KWD 372,590 ($1.22 million) in the year-ago period, according to a …

Financial Results

17 October 2016 00:36 PM First Investment gets KWD 2m from unit liquidation

Kuwait – Mubasher: First Investment received a cash amount of KWD 2.013 million from the liquidation of its 33.21%-owned subsidiary. First Energy Resources Company, the unit, has distributed KWD 6.06 million on the shareholders following the …

Companies Investments

25 September 2016 00:12 PM First Investment’s unit may pay $6m zakat

Kuwait – Mubasher: First Investment has informed a subsidiary in Saudi Arabia to pay additional zakat dues worth SAR 22.75 million ($6 million or KWD 1.8 million). The subsidiary has started the procedures of appealing against the mentioned dues, …

Corporate Actions

16 August 2016 02:59 PM First Investment Q2 profits up 193%

Kuwait - Mubasher: First Investment Company reported a 193% surge in profits in the second quarter of 2016 to KWD 170,570 ($564,300) from KWD 58,230 ($192,700) in the same period last year. Profits dropped 88% year-on-year to KWD 215,550 in H1-16, …

Financial Results

11 July 2016 01:45 PM First Investment to distribute 5% bonus shares on 5 June

Kuwait – Mubasher: First Investment got the approval of the Capital Markets Authority (CMA) to distribute 5% bonus shares or 5-for-100 shares to the registered shareholders on 5 June 2016, according to a bourse filing. The company announced …

Banking and Finance

11 July 2016 00:56 PM First Investment gets CMA’s nod on bonus shares

Kuwait-Mubasher: First Investment obtained the Capital Markets Authority’s (CMA) approval for distributing 5% bonus shares to the shareholders of records registered on 5 June; the date when the ordinary general meeting was held. The company will …

Cash Dividends

5 June 2016 08:45 AM Kuwait’s First Investment to discuss FY15 dividends

Kuwait-Mubasher: First Investment will hold an ordinary general meeting on Sunday to consider the board’s recommendation of distributing 5% bonus shares or 5-for-100 shares for the fiscal year 2015. The distribution will not lead to an increase in …

General Assembly