Kuwait's Al-Mal Investment gets bond extension

31/03/2010 00:00 AST

Debtors of Kuwait's Al-Mal Investment Co. have agreed to defer repayment of 20 million dinars ($69.35 million) in bonds for a year, the company said on Tuesday.

The investment management firm, controlled by family-owned conglomerate Kharafi Group, said in a statement to the bourse that its bond holders had approved a one-year extension of payment till April 5, 2011.

The statement did not provide any further details and company officials could not be immediately reached for comment.

Naser Al-Nafisi, general manager of Al-Joman Center for Economic Consultancy in Kuwait, told Reuters the extension was "a good step to save it from trouble."

"The company has a liquidity problem, a serious problem," he said, adding that most of Kuwait's investment firms suffer in one way or another from the aftermath of the global financial crisis.

Kharafi partly owns Kuwaiti telecom Zain which is expected to sign on Tuesday a $9 billion deal to sell most of its African assets to India's Bharti Airtel. Zain said it will use $4 billion to pay debts.


Reuters

News

Al-Mal of Kuwait Rises to Highest in a Year on Stake Sale Offer

03/11/2010

Al-Mal Investment Co. surged to the highest level in more than a year after the Kuwaiti firm said it received an offer to sell a 31.3 million-dinar ($112 million) stake in an energy company.
<

Bloomberg

Accord signed for new Saudi airport

18/02/2010

Saudi Arabia's General Authority of Civil Aviation (Gaca) and Al Mal Investment Company (Al Mal) recently signed a Memorandum of Understanding (MoU) to build the Hail International Airport in the Pri

Gulfnews

Al-Mal bids for $1.2bn Philippines project

17/01/2010

Kuwait's Al-Mal Investment Co, said it has bid for a tender to develop an airport in the Philippines, valued at about $1.2 billion. The firm is controlled by the family-owned conglomerate Kharafi Gro

Reuters

Most Viewed Companies

Ticker Price Volume

Top Related Companies

Ticker Price Change
ALMUTAHED 0.00 0.00 (0.00%)
MASSALEH 0.00 0.00 (0.00%)
ALAMAN 0.00 0.00 (0.00%)
INVESTORS 0.00 0.00 (0.00%)
EDU 0.00 0.00 (0.00%)

Recent News

QLM reports QR15.3mn net profit on QR364mn revenues in Q1

27/04/2026

QLM Life and Medical Insurance Company has reported strong insurance revenue of QR364mn in the first quarter (Q1) of 2026, up 22% on annualised basis.

Net profit was flat at QR15.3mn in Q1-2

Gulf Times

Burgan Bank's flagship Kanz returns, crowning more than 250 winners and its 4th millionaire

27/04/2026

Burgan Bank has concluded the resumption draws for its flagship Kanz account, crowning more than 250 winners - including Kanz's fourth millionaire - across postponed draws covering the period from Ma

Kuwait Times

Gulf Bank continues to support Kuwaiti enterprises, gifts customers Arfaj flower cake

27/04/2026

As part of its ongoing commitment to supporting small and medium sized enterprises and empowering Kuwaiti entrepreneurs, Gulf Bank resumed its distinctive community initiative, "Nuqsat Al Khaleej," i

Kuwait Times

almeera AGM approves distribution of QR0.40 dividend

27/04/2026

Al Meera Consumer Goods Company (almeera) is eyeing expansion plans, which include adding more branches across Qatar, developing private labels, and expanding partnerships with local suppliers to pro

Gulf Times

Dukhan Bank reports QR429.5mn Q1 profit

27/04/2026

Dukhan Bank has reported a net profit of QR429.5mn in the first three months of 2026, leading to earnings per share of QR0.075.

Total equity in Q1 2026 stood at QR15.6bn, reflecting a 2.5% i

Gulf Times

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap