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Sun 1 Apr 2012 06:45 PM

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Kuwait bourse suspends trading in 19 more firms

Stock exchange chiefs say action taken against companies who fail to report earnings on time

Kuwait bourse suspends trading in 19 more firms

Kuwait's stock exchange said it had suspended trading in the shares of 19 more companies on Sunday after they failed to report earnings on time.

The companies - several involved in real estate - join 12 other firms which were suspended earlier this year.

The new companies on the list included investment group Al-Ahlia Holding and International Financial Advisors .

The list, which now totals 31 companies, already included Investment Dar, which brought half of luxury British carmaker Aston Martin for £479m ($751.7mn) in 2007 and International Investment Group, which defaulted on a $200mn Islamic bond in April 2010.

Global Investment House, whose largest shareholders are the governments of Kuwait and Dubai, was also on the list, according to a statement on the Kuwait stock exchange website.

Kuwait's markets watchdog warned several companies last month that they would be delisted.

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james 7 years ago

well done now stick to the decision and dont waiver to the pressure coming your way. Can we now have the same determination in the rest of the government and get the country running like a normal leader and cut the idiotic red tape that purveys an overpaid under worked priviliged civil service
a great country with real prospects if only we had strong leadership