Kuwait Investment Dar (KID) Company generated net profits of USD 255 million (KD 73.3 million) at the end of September this year. The company has sustained a growth level of 33 percent, for the second consecutive year, with its earning per share rising to USD 401.78 since 2005. Investment Dar reported its capital value at USD 3.4 million for the week of 29 October 2006.
In a report compiled by Shuaa Capital Company for the September issue of Gulf Business, Investment Dar was recognised as one of the GCC’s leading financial investment companies.
“Investment Dar is strengthening its position in the GCC financial market with a 33 per cent growth rate for the second consecutive year. This growth is the result of the company’s strategy and vision of board members to diversify its sources of income, expand its project portfolio and generate operational profits amongst all its subsidiary companies across the GCC,” says Adnan Al Mussalam, Chairman and Managing Director, Kuwait and Investment Dar.
The total assets value grew by 91 percent to USD 3,316.32 million at the end of September 2006 from USD 695.477 million, in 2005. In addition, the total shareholders’ equity increased to USD 1,073.65 million from USD 458.489 million in 2005; leading to a growth rate of 134 per cent this year.
In a study published by an economic specialist in Kuwait and the GCC, Investment Dar has been ranked as the first company to have generated the highest revenue on investment; at a rate of 1082 per cent, since 2002.
“The high revenues generated for our shareholders is a result of the company’s successful strategy to expand geographically into new markets and industries in the region and worldwide. Investment Dar will continue with this strategy and capitalise on lucrative investment opportunities across the GCC, to maximise growth, profits and returns for shareholders year-on-year” adds Al Mussalam.
Investment Dar is a Kuwaiti shareholding company founded in 1994 with a declared capital of KD 22.752 million. The international credit rating agencies of the company have from BB- in 2001 to BBB+ in 2005, which complements the ISO9001 certification achieved in 1999. Both the achievements are firsts for an Islamic financial company in Kuwait. Investment Dar is a member of several international and Arabic bodies, such as Accounts Review for Islamic Financial Establishments, Islamic Financial Establishments and Banks General Congress and many other accredited regional and international associations.
Investment Dar has subsidiaries in the following industries:
• Finance
• Banking
• Real Estate
• Investment & Asset
• Services including insurance, money collection and rating, logistics, research and consultancy and project management.
Investment Dar’s subsidiary companies include the following:
• Al DarAsset Management Co.
• Al Dar International Consultancy
• Al Dar National Real Estate Co.
• Al Madar Finance and Investment Co.
• Bahrain Islamic Bank
• Credit Rating and Collection Co.
• Khabary
• Manazel Holding Co.
• Oqyana Real Estate Co.
• Proman Project Management Co.
• Rehal Logistics
• Saudi Combined Co.
• Syrian Islamic Bank
• Wethaq
• WARED
