Kuwait – Mubasher: Al Deera Holding is focusing on activating its plans, which include exiting some of its investments and repaying its remaining debt of KWD 10.4 million, Bader Al Hajri, deputy chairman at Al Deera, told Kuwait's Alrai newspaper on Monday.
Al-Hajri said on the sidelines of the company's general assembly on Sunday that the firm negotiated with the creditor banks and paid $16.8 million of its debtof KWD 48 million, in addition to an interest of $9.1 million.
Therefore, the Kuwait-listed company achieved profits of KWD 12.2 million, which makes the firm free from all bank loans, he highlighted.
The company’s losses hiked 199.7% to reach KWD 432,570 in the first quarter of 2017 from KWD 144,360 in Q1-16.
Al Deera’s annual losses declined 95.2% in 2016 to KWD 478,000, versus KWD 9.93 million in 2015.
