Sunday 4 December 2022

Naim Azad Din

Boursa Kuwait highlights outlook at EFG Hermes event

KUWAIT, September 25, 2022

Boursa Kuwait participated in the recent 16th Annual EFG Hermes One-on-One Conference in Dubai, shedding light on the company’s recent developments, milestones, financial information and business outlook to an audience of investors.

The exchange met with 20 international asset management funds and investment companies, who showed great interest in learning about the company’s latest developments. Representatives from the company showcased its financial data and reviewed the company’s plans to develop a transparent and solvent capital market through the implementation of a group of enhancements and regulatory projects as well as the technology to raise the capital market’s profile locally and internationally.

The EFG Hermes One-on-One Conference is considered the world’s largest conference in frontier emerging markets (FEM), connecting leaders of hundreds of companies from across the region with institutional investors and family offices managing hundreds of millions of dollars in assets.

Commenting on the company’s participation, Boursa Kuwait’s Chief Financial Officer, Naim Azad Din said: “During this prestigious conference, we met with 20 international investment companies, shedding light on the company’s milestones and financial information. Boursa Kuwait is committed to promoting the Kuwaiti capital market and raising its profile locally and internationally.

“The company hopes to continue to set an example for listed companies as we aim towards demonstrating our ongoing value and efficiency, proving that we are leading a progressive operation in line with dynamic world-class standards and best practices with ample room for growth and expansion.”

Boursa Kuwait recorded net profits (attributable to equity holders of the parent company) of KD10.7 million ($34.4 million) for the six-month period ended 30 June 2022, an increase of 36.8% compared to the same period in 2021, when the company recorded net profits of around KD7.8 million.

The Group’s total assets came in at approximately KD110.8 million, which is an almost 4% increase versus its 2021 total assets for the same period of KD106.5 million, while equity (attributable to equity holders of the parent company) increased from KD52.6 million on 30 June 2021 to KD58.3 million at 30 June 2022, an increase of 10.8%.

Meanwhile total operating revenue came in at KD18.4 million, an increase of 21.8% over the same period in 2021, which stood at approximately KD15.1 million.

“Boursa Kuwait continues to develop its infrastructure and operational framework to attract investments from international investors and highlight the unique investment opportunities that the company has to offer for all market participants. The company is also cognizant of the pivotal role it plays as a key driver of growth and development in the Kuwaiti capital market,” Azad Din added.

Boursa Kuwait’s participation in conferences organized by prominent international organizations comes within the framework of the company’s goal of strengthening its position as a leader in the financial markets sector. The company is committed to participating in these events and conferences to gain experience and knowledge. – TradeArabia News Service


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