Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Jassim Transport set for Boursa Kuwait listing

A display board at Boursa Kuwait. Pic for illustrative purposes only.
    • JTC is one step closer to being listed on Boursa Kuwait, the country’s stock market

    • It said it was in the process of completing the private placement to increase its shareholders’ base

    Ports and contracts logistics services provider Jassim Transport & Stevedoring Company, also known as JTC, is one step closer to being listed on Boursa Kuwait, the country’s stock market, said local reports on Sunday, July 4.

    JTC was quoted by the reports as saying that it was in the process of completing the private placement to increase its shareholders’ base.

    Boursa Kuwait considers increasing shareholders as one of the prerequisites for a company to be listed there.

    JTC started the private placement in the middle of last month, following the preliminary regulatory approval from Kuwait’s Capital Markets Authority.

    JTC CEO Adel Kohari was quoted by the reports as saying: “The company is proceeding with its strategy to list its shares on the Boursa Kuwait. In addition to the private placement, we are carrying out several internal procedures that will improve the level of transparency, provide the necessary training for employees to deal with the company’s new strategy and other matters that contribute to the company’s readiness for listing.”

    He added: “So far this year, the performance and achievements have been very satisfactory on both the financial and operational levels. We have won new contracts, commenced new projects and implemented new businesses.”

    JTC has this year started executing a new three-year logistics contract with Kuwait’s Ministry of Electricity & Water, besides signing new long-term contracts with several oilfield services companies for power rental services in KOC oilfields.

    These contracts are expected to drive its revenue growth over the next seven years.

    JTC has also commenced aggregate cargo handling services at Shuaiba port and started construction of a new temperature-controlled warehouse at Mina Abdullah. This warehouse is expected to start operating early 2022.