Kuwait-Mubasher: The financial statements of Credit Rating and Collection (Tahssilat) showed a 10% increase in losses during the fourth quarter of 2015 as compared to the same quarter of 2014.

Tahssilat posted losses worth around KWD 198,550 ($662,600) in Q4-15, compared to about KWD 180,530 ($602,500) in Q4-14, according to a bourse statement.

During the fiscal year of 2015, the Kuwaiti company registered losses worth approximately KWD 454,910 as compared to KWD 2.27 million in FY14, a decrease of 80%.

The board of Tahssilat has proposed withholding dividends for the fiscal year 2015, subject to shareholders approval.