Mubasher: Al Madar Finance and Investment signed last Thursday a settlement deal that covers $1.5 million (KWD 456,000) worth of dues to creditors.
The Boursa Kuwait-listed company noted that it would achieve a profit of $375,000 ($114,000) as a financial impact of settling this deal. This impact should be registered in the income statements of the period ending on 30 June 2019, according to a bourse disclosure on Sunday.
It is noteworthy that Al Madar recorded profits worth KWD 14.88 million in fiscal year 2018 against a loss of KWD 2.18 million in FY17.
