Al-Safat News

Al-Safat Companies Moves to their New Headquarters

 

Al-Safat Investment Company has moved to their new offices at Al-Safat Group Headquarters building at the following address:

 

Hawalli, Beirut Street

Facing Qadisiah Club, Safat Tower, 13, 14,15 Floor

Telephone: 2267 5130    Operator: 1 877 777

Fax: 2267 5232
 

Al-Safat: A Profit of KD 4.25 million from a Divestment

 

A subsidiary of Al-Safat Investment Company (Safat) has divested 100% of its investment in a project in the People's Republic of China, thereby achieving a profit of KD 4.25 million. This deal will reflect favorably on Al-Safat Investment Company’s financials, reflecting the 100% divestment and a profit of 5.5 Fils approximately per share.  The profits will be seen in the company's financial statements for the second quarter ending 30 June, 2010.

 

KD 1.2 million Profits for the First Quarter

 

Walid Ahmed Al-Sharhan,  the Chairman and Managing Director of Al-Safat Investment Company  has announced that for  the first quarter of 2010 the company achieved a net profit of KD 1.23 million , representing 1.6 Fils per share compared to a loss of KD 1.960 million during the same period of 2009 (2.54 Fils per share). During the quarter ended 31 March 2010 total revenues amounted to KD 3.1 million from operating activities.

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Al-Safat Group

Al Safat Investment Company

  

Al Safat Investment Company is highly experienced in the field of establishing, developing, and restructuring companies; offering appropriate advices from the experience accumulated by the company’s senior management.

 

Al Safat is proud of its achievements during the past period successfully covering leading companies, which include financial investments, energy, real estate, health, Takaful insurance, information & technology, travel & tourism, food & consumer goods, education, and industrial sectors.

 

Legal Entity: Kuwait Shareholding Company (closed)

Capital: 77,298,334 KD seventy seven million two hundred and ninety eight thousand and three hundred and thirty four Kuwaiti Dinars. Approximately two hundred and sixty seven million US Dollars.

Shareholders: Group of institutional and individual investors.

Establishment: 15/9/1983

KSE Listing Date: 21/11/2005

Activities:

Investing in various sectors such as real estate, industrial, agriculture, and services.
 

To contribute toward the establishment of specialized companies or ownership of existing companies or buying shared or bonds of these companies, as well as in the restructuring of companies asset; investment funds and portfolios, lending, mediation and the consultation inside and outside the state of Kuwait.
 

Feasibility and market studies as well as financial modeling.
 

To carry out the function of managing issuances of bonds issued by companies, and carrying out the function of investment Trustees.
 

In 2006 the company was listed in the Kuwaiti Stock Market as (AL SAFAT)