Mubasher: Gulf Investment House (GIH) is working on rescheduling a debt worth KWD 35 million in addition to providing solutions and alternatives to settle this debt value, as fiscal year 2017 formed a challenge, chairman Khaled Al Ajlan said, as reported by Al Qabas Newspaper.
Legal procedures have been undertaken to preserve the shareholders’ equity rights, the chairman said during the ordinary general meeting (OGM) on Sunday, Al Qabas added.
The shareholders approved zero dividends for fiscal year 2017, Al Qabas added.
GIH is currently focusing on improving its liquidity as well as maintaining the company’s financial position.
Al Ajlan said that GIH achieved a revenue of KWD 1.1 million in fiscal year 2017, with a loss worth KWD 1.2 million being registered.
GIH’s assets totalled KWD 44.4 million, while the equity rights stood at KWD 7.5 million.
