AlRaya Investment achieves positive earnings results despite global financial crisis

Mr. Hazem Al Braikan, the Vice Chairman & CEO of AlRaya Investment, mentioned in a call with AME:

"AlRaya has been able to successfully executing it's strategy notwithstanding the negative forces of the current financial crisis , which caused drastic financial damage to major economies and financial institutions in the GCC region and around the world."

He mentioned that AlRaya is enjoying a great financial position at the moment with zero leverage on it's balance sheet as of March 31, 2009.

Mr. Al Braikan added, "The Board of Directors of AlRaya Investment took a very conservative approach since Q2 2008, Which helped us to maintain and grow our shareholders value during the worst financial crisis in modern history."

Mr. Al Braikan mentioned that despite the on going turmoil in International Equity Markets we will continue our focus on Major Equity Markets, We can see more opportunities down the road with more reasonable valuations in the E.U. and U.S. markets.

AlRaya Investment Company was incorporated early 2008 by a group of prominent investors and financial institutions in Gulf region and internationally.

Among the major investors in AlRaya Investment Company are Kipco Group, Citigroup, Arab Investment, Alnoor Consulting, Kuwait International Bank, Sheikh Sabah Nasir Al-Sabah Al-Ahmad Al-Sabah, and Mr. Hazem Al Braikan.

AlRaya Investment is privately held Kuwaiti based company with a paid up-capital of KD25m. AlRaya Investment is registered and supervised by the Central Bank of Kuwait, which is the only regulating financial body in the oil rich country.

AlRaya Investment first fiscal year ended March 31, 2009.