Al-Riyada Finance and Investment Co. raise its ROE since inception in 2008 by 13.5% to reach 17 Million Kuwaiti Dinars
Chairman & Managing Director of Al-Riyada Finance & Investment Co., Mr. Muhannad Mohammad Al-Sane, unveiled the company's plans that focus on diversifying its business and sources of income and improving its investment projects, as well as investment in key sectors of real estate and finance.
Al-Sane mentioned in his speech during the General Assembly, which was held by the presence of 100%, that Al-Riyada has established a network of strategic alliances managed to create investment opportunities of operating profits and maximize the return on the investments for the company and its clients.
Al-Sane reviewed the company’s performance and activity during the year 2012, stating: "Al-Riyada" has pursued a strategy focused on the diversification of sources of income for the sectors, including finance, real estate, consulting and management of client portfolios. In addition, the company was able to complete its projects under development, pointing out that it was keen to be cash liquidity available, as well planning for the next phase and its requirements, noting that the company does not exist in any financial obligations to others resulting from financing contracts for the year ended 2012.
In spite of this stage’s difficulty and its requirements, the company succeeded in completing all of its real estate yielding projects during the year 2012, with low risks and high returns, by leasing all commercial & entertainment rental units at the projects, which will reflect on the results of the year 2013.
In addition, the company has provided professional, specialized consulting services for a group of its clients, through its financing portfolio, which constitute 15% of the basic capital. The characteristic performance of the investment portfolio had a positive impact on achieving client’s projects & achieving superior returns for the company.
Al-Sane stated that, despite negative economic environmental events, the company was able to raise its ROE since inception in 2008 by 13.5% to reach 17.02 million Kuwaiti Dinars. During the year 2012, the company also achieved total revenues of 549 Thousand Kuwaiti Dinars, and a net profit of 300 Thousand Kuwaiti Dinars.
The General Assembly approved all agenda items for the financial year ended 31 December 2012.