The board of the Arab Investment Company will meet in Riyadh Saturday to discuss the results of the company's investment and banking activities in the first quarter of the current year and to lay out future strategies, reported Gulf News Agency (GNA).
A source at the company told Kuwaiti News Agency (KUNA) that the meeting would also look into reports on the company's 41 agricultural, industrial and services projects in 15 Arab states.
The company's general assembly will be held the same day in presence of the owner countries to approve the final accounts and to discuss a recommendation by the board to distribute profits totaling 5 percent of the capital, a total of $20 million.
The company posted strong gains for the fiscal year 2000, putting revenues until the end of last November at $34 million, according to the report.
The company's assets are estimated at more than $1.8 billion.
According to GNA, company officials believe these numbers reflect the company's sound financial performance this year, in accordance with its five-year plan to update its structure and fiscal standing. The five-year plan concludes in 2004 – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
