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KCIC Managing Director Ahmad Al Hamad said:
"We have witnessed an unprecedented collapse of global financial markets in the last 18 months. Nevertheless, KCIC has successfully managed to overcome these difficult times and is well positioned to continue on the road to profitability."
He added "We will continue to focus on our key markets by developing innovative investment opportunities to service the needs and demands of our sophisticated investors and take advantage of the ripe market conditions".
KCIC is an investment company founded with a capital of KD80m an Emiree Decree with a mandate to develop investment opportunities in Asia towards building an Asia focused asset management company. The public company employs a team of Asian specialists and currently manages assets in excess of $450m. Key shareholders include The Kuwait Investment Authority, the Sovereign Wealth Fund of Kuwait, National Investment Company, one of the leading investment banks in the Middle East, and Al Ghanim Industries, one of the largest conglomerates in the Middle East.
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Posted by Rima Ali Al Mashni
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