Company profile


Real Estate Investment: Avenue Retail Park, UK


During Q3 2015, MENA invested in the purchase of a freehold, prime, multi-let retail park in Cardiff, Wales, UK. The Park has 119,034 sq.ft of lettable area and is in a prime retail cluster location with a dominant and visible frontage and comprises of 5 retail warehousing units & 2 retail pods. The property, which was re-developed and extended by retail specialist Hammerson in 2006, is 99% occupied being let to 7 retail tenants including Home Base, Marks & Spencer, TJ Morris and Matalan. The investment strategy and asset management opportunities revolve around the below average rental income, the opportunity to re-gear and extend a number of occupational tenant leases, splitting up an existing unit and bringing in a new tenant on new leases terms, diversifying the park profile, adding further advertising space on the park perimeter and obtaining planning consent for constructing 2 new retail units.
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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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