Mubasher: Integrated Holding Co is planning to spend an additional capital worth around KWD 8 million in 2019, the company’s vice president said.
The Kuwait-based company is focusing on the optimum usage of equipment and boosting business volume in various fields to maintain growth, Al-Jarida Newspaper reported, citing Jassim Boodai.
Boodai indicated that the company’s profit margin may decrease due to competition in some businesses related to equipment operation, stressing that Integrated Holding has worked to diminish these risks.
As for future plans, the company has many ongoing major projects in the oil and gas sector, energy field, and infrastructure in Kuwait and the GCC states, as well as other planned projects to be established, he said.
Accordingly, a subsidiary of Integrated Holding has prepared for providing logistics services for a new refinery in Duqm, the Sultanate of Oman, he added.
He emphasised that the postponed projects will be implemented consequently to contribute to the company’s business growth.
Moreover, the company’s expansion in developing the gas fields in Qatar will allow it to expand its business through its subsidiaries there, Boodai noted.
Earlier this day, Integrated Holding announced that general assembly had approved a cash dividend distribution of KWD 8.8 million or KWD 0.4 per share for fiscal year 2018.
It is worth noting Integrated Holding had achieved KWD 17.23 million in profits for FY18, up 29.47% from KWD 13.3 million in FY17.
