KUWAIT CITY: Asiya Capital Investments Company (previously KCIC), a firm focused on investing in Emerging Asia countries, today held its Annual General Meeting of Shareholders in Kuwait. Shareholders approved the 2014 annual report and accounts, and approved the Board of Director’s proposals, including a proposal to issue a 5 percent of par value as cash dividend (5 Fils per share).
For the year 2014, Asiya Capital Investments registered a net profit of KD 1.77 million, a 75 percent increase from the previous year, with earnings per share of 2.29 Fils. The company reported KD 9.23 million in revenue, representing an 18.5 percent increase from 2013, and a return on equity of 2.07 percent.
Asiya Capital Investments’ Chairman, Dari Ali Al-Rasheed Al-Bader, said: “The company’s performance in 2014 outperformed industry and peer benchmarks, proving the success of the company’s strategy. Our earnings continue to be supported by Asia’s strong fundamentals, which have driven 40 percent of global economic growth last year.”
2014 highlights:
* The company’s funds outperformed the MSCI Asia Ex-Japan total return index which was at 4.8 percent.
* The Gateway fund achieved a return on investment of 12.94 percent, an out performance of over 8 percent.
* The company’s financial and real estate strategies recorded a performance of 11.35 percent, an out performance of over 6 percent.
* The company’s long-only strategy achieved a return of 9.46 percent.
* The company’s Panda Fund outperformed the benchmark and achieved returns of 7.93 percent.
