Kuwait China Investment posts $30m profit in 2009

01 Apr 2010

(MENAFN) The Managing Director of Kuwait China Investment Company (KCIC) said that the company’s 2009 net profits reached $29.8 million and net assets rose by 13 percent.

He said total shareholders’ equity reached 11 percent, which reflects the success of its strategy and professionalism of its staff. KCIC’s solid position enables it to explore new investment opportunities in 2010, said the official.

KCIC was established with a capital of $80 million to explore investment opportunities through an asset administration firm in Asian. KCIC is running more than $450 million in assets.

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