Boubyan International Industries Holding Co. © All Right Reserved
Sharq, Khaled Bin Al Waleed St., Al Dhow Tower, Behind Alraya Complex, Telephone: (+965) 22 901 444
On behalf of the Board of Directors and Company staff, it gives me great
pleasure to welcome you to the 12th Annual General Meeting of Boubyan
International Industries Holding Company - K.S.C - Closed (BIIHC) to
review together, the general performance of the company for the period
ended in 31 July 2016.
Due to the difficult extended period of crisis and uncertainty on the
recovery of global economy and the continuous decline of fair value of
investments, the Company’s performance for the financial year ended
31/7/2016 resulted in net loss of KD 17.063 million and loss per share is
56.88 fils compared to net loss of KD 2.2 million and loss per share 7.38
fils for the previous year and the loss is increased by 87% compared to
previous year. The reason behind this loss is primarily due to the fair
valuation of our financial assets available for sale and on assets at fair
value through profit or loss where we are forced to take impairment loss of KD 14.22 million. The
total assets stood at 17.77 million and shareholders' equity KD 14.76 million. The total debt of the
company is KD 2.8 million which is approx 19% of the equity.
We expect the greater revenue and profits in coming years by positive performance from our
existing investment and subsidiaries. The company is currently studying a number of investment
opportunities in the industrial and service sectors in GCC and International.
The company will continue its cautious and best efforts in searching for promising investment
opportunities in order to build a medium to long term investment base that meet the company's
strategy of development and diversification of income sources.
Finally, on behalf of the board of directors, I would like to express our gratitude for the support and
blessings that you have given to us over the past years and we look forward the same to a bright
future of the Company.
May God bless you.
|Abdullateef Mubarak Al-Dabbous
Chairman of the Board