Al-Ghunaim: Excellence in financial performance and better future prospects has been our target

Published May 6th, 2007 - 01:42 GMT

Global Investment House “Global” held today its first Financial Analyst Meeting in a step to share its achievements, financial performance and the company’s future strategy and outlook with the theme “An open book discussion”.

The meeting was held at the JW-Marriott hotel in Kuwait and attended by financial analysts and investment managers representing a list of financial institutions and institutional investors from Kuwait, United Arab Emirates, Kingdom of Bahrain and the United Kingdom.

Mrs. Maha K. Al-Ghunaim, Global’s Chairperson and Managing Director started the meeting with an outline of the company’s strategic initiatives since the company’s inception in 1998. She also discussed the strategy matrix that the company follows which started from being a local company offering international products to adding regional products to its products mix, then moving into being a regional player offering regional products and services to a more focused approach offering country specific products.

Mrs. Al-Ghunaim emphasized that the High liquidity, brisk economic activity and bullish stock markets accompanied by core competencies of various business sectors at Global, has led to excellence in financial performance and better future prospects for the company.

Global’s geographical expansion across the Middle East, North Africa and Asia presently puts it in more than 14 countries being it Global offices or through strategic stakes in leading financial institutions. “Global will continue expanding to provide outstanding investment opportunities to our clients wherever they exist,” she added.

“Our diversified sales and distribution channels give us strong placement capabilities with our private and institutional client base of about 4,000 clients,” she explained. “These channels consist of Client Relationship, Corporate Desk, Regional Sales, and International Sales in addition to our regional and overseas branches.”

Mrs. Al-Ghunaim continued, “Global is one of the few companies that focuses on Corporate Governance and accordingly has put Governance framework specifying the role and responsibilities of the Board of Directors, the underlying committees and the company employees to ensure good corporate governance practices. Being listed on three stock markets and operating in several countries requires compliance with governance and accounting regulations of each of these countries”.

Mrs. Al-Ghunaim went on discussing the various business groups at Global that are the revenue generators and highlighting their competencies and major achievements.

Investment Funds Department consists of many teams one of which is specialized in Real Estate offering funds in US, Asia and the GCC. The department’s assets under management have grown by 26% in 2006 and its products have been recognized on international level.

Global Distressed Fund has been ranked “The 6th best fund of hedge funds worldwide in terms of Sharpe ratio (Barclay March 2007) and The 2nd best performing distressed fund of hedge funds worldwide (Eurekahedge, Q1 2007). Global Umbrella Fund- Europe achieved a 4th worldwide ranking on a year-to-date performance basis (Eurekahedge - March 2007).

The GCC Investments Department manages over USD1.5 billion under diversified multiple strategies and had launched an array of investment funds with different strategies, adding value to the regional capital markets, and display an outstanding performance till this date. The department’s products have also received recognitions; the latest was from Lipper – Reuters in 2007 awarding Global Large Cap. Index Fund the “best performing fund in Kuwait in 2006.”

Corporate Finance Group has a team considered to be one of the largest multi-disciplinary and reputable teams in the region with over 100 experienced professionals. The team has successfully raised over USD3 billion in equity financing since its launch, completed over 40 transactions for the Private Equity funds managed by Global in the GCC, MENA region (including Turkey), India and China and has successfully concluded acquisition of target stakes in Jahangir Siddiqui in Pakistan and Barings Private Equity Asia in Hong Kong.

Global’s Chief Financial Officer, Mr. Sunny Bhatia followed by speaking about the 2006 year-ended financial performance and the 2007 first quarter financial results. He covered the revenue growth, the earnings per share, total equity and key financial ratios which are “excellent by international standards.”

“Effective implementation of our strategies and successful and diversified business model has contributed to consistently handsome growth in net income,” Mr. Bhatia affirmed.

“We continued to remain on a high growth path from all dimensions,” he added.

Global’s CFO said, regarding the shareholders wealth creation, “Cumulative shareholders’ subscriptions since inception was KD127 million, whereas the cumulative cash dividend distributions were KD78.3 million and in 2006 the payout ratio reached 48%.”

Towards the end of the meeting, Mrs. Al-Ghunaim again said that Global’s capital was increased by KD86 million to fuel company’s expansion plans on the strategic and operational levels.

Global’s Chairperson explained Global’s ownership structure where the holdings stand at 10.18% to Dubai Investment Group, 8.94% to Tareq Khalid Al-Humaizi & Others, 8.7% for Public Institute for Social Security, 60.78% as Free Float and 11.4% ownership goes to Global’s Management and employees.

Regarding the shareholders distribution, Al-Ghunaim listed all three types of holdings where the Portfolios and Funds represents 48.1%, the Institutions represent 27.6% and the Individuals represent 24.3% of the total shareholders distribution.

Al-Ghunaim concluded her speech by discussing the company’s future strategy. The strategy focuses on increasing revenues generated by regional and international offices from total revenue base, continue the expansion strategy by opening Global offices through acquiring financial institutions and going into partnership with well reputable financial institutions, with a focus to open Global in the Kingdom of Saudi Arabia and Egypt. Finally, strengthen the five business sectors in Global; Asset Management, Investment Banking, Private Equity, Real Estate and Brokerage.

“Our future strategy is to continue increasing revenue from realizing value in our proprietary book and increase the recurring portion of the net income,” said Al-Ghunaim.


About Global Investment House “Global”

Global Investment House “Global” is a full-fledged investment company incorporated in 1998, and falls under the regulation of the Central Bank of Kuwait. Its underlying foundation is to meet the high expectations of local and international clients, and to enhance the investment service industry in Kuwait and the region. Today, Global stock lists on the Kuwait, Bahrain, and Dubai Stock Exchanges, with branches and affiliates in Bahrain, Dubai and Abu Dhabi (UAE), Jordan, Qatar, and Sudan. Global plays an important role in promoting investment opportunities in the Arabian Gulf Peninsula to investors through expert financial engineering, in-depth research and reports to advance the capital market in the region. Thus, Global’s achievements have been recognized on local, regional, and international levels. The company’s current assets under management reached KD2.021billion (USD7.2billion) on December 31, 2006.

For more information about Global, please contact Mishari Al-Mufarreh, Media Relations Executive. Tel: (965) 240-0551 Ext. 659; Fax: (965) 242-0498; P.O. Box: 28807 Safat, 13149 Kuwait; Web;


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