Mubasher: Arzan Financial Group for Financing and Investment said that an 81.81%-owned subsidiary, Arzan Capital Holding Ltd, has established a new firm, Hill Top Netherlands 4 PLC, in the Netherlands at a capital of KWD 15.1 million (EUR 44 million).
The new company was founded to purchase a complex of offices in Amsterdam, according to a statement to Boursa Kuwait.
The financial impact of the new business will be realised in the parent company’s financial results which will be issued on 30 September.
During the fourth quarter of 2018, Arzan Financial Group turned a profit, generating KWD 7,000 against a loss of KWD 687,000 in Q4-17.
