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Ordinary General Assembly Meeting FYE 31 March 2017


MENA Capital Holding Company held its Annual General Assembly (AGM) for the financial year ended 31 March 2017 on Monday, 28 August 2017. The Chairman & CEO, Mr. Hamad Abdullatif Al-Asfour said during the meeting, that MENA Capital had been able to enhance its financial performance for the year under review despite the geopolitical turmoil in the region. He added that the Company aims to become one of the strongest financial institutions in Kuwait & to expand its geographical focus over the next few years, indicating that it has achieved positive results because of the prudent decisions adopted in the past years.The Company continues to closely evaluate investment opportunities sourced through strategic partners and ventures in line with the Company’s revised investment policy.

The AGM unanimously approved all items listed in the Agenda, including the audited financial statements of MENA Capital for the FY ended 31 March 2017 along with the Auditor's Report and the Board of Director's Report for the period. The meeting also approved the reappointment of Ernst &Young Al Aiban Al Osaimi& Partners as the statutory auditors of the Company for the FY ended 31 March 2018.

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MENA Capital Holding announces annual profits of KWD 14.4 million and 54.1 fils Earnings per Share.


The General Assembly of MENA Capital Holding endorsed all the items listed on the Agenda during an Ordinary Session on 17 July 2011. Most importantly, the General Assembly endorsed the Financial Annual Financial Statements for the year ended 31 March 2011 and its Auditors’ Report, the Board of Directors Report and released the Board of Directors’ actions for the said fiscal year.

Hamad Abdullatif Al-Asfour, Chairman & Managing Director of MENA Capital Holding announced during the meeting the Company’s substantial profits covering all losses accumulated during the previous three financial years. The Company reported Net Profits of KWD 14.39 million attributable to shareholders of the parent during the year against a loss of KWD 1.14 million during the corresponding previous year, reversing the negative Earnings per Share (EPS) (3.9 fils negative earnings as of March 31, 2010) to current year positive Earnings per Share of 54.1 fils.

As is typical of any private equity focused investment operations, the Company’s financial performance generated initial accumulated losses of KWD 12.025 million as of 31 March 2010 which were positively reversed when the Company exited one of its investments in Turkey through a subsidiary. As a result, the Company realized significant improvements in Return on Assets (ROA) which is 41.21% at the end of the current year (31 March 2010: -3.38%). The Return on Equity (ROE) too registered a sharp increase to 77.28% from -5.51% at the end of last year. Today, the Company holds a strong liquidity position with no debt on the Holding level. This is reflected in the high liquidity ratios at the end of the current financial year.
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