Kuwait's Securities House mulls investments - paper

Islamic investment firm eyes investment opportunities on declining asset prices.
Kuwait's Securities House mulls investments - paper
By Eman Goma
Sun 01 Feb 2009 01:23 PM

Kuwaiti Islamic investment firm Securities House is mulling investment opportunities as asset prices decline in view of the global financial crisis, its chairman said in remarks published on Sunday.

Ayman Boodai said the firm is studying six opportunities including property projects locally and abroad and plans to sell assets worth about 100 million dinars ($345.8 million) this year to finance the expansion, Al Rai newspaper reported.

Securities House might also look into borrowing. "The firm's relationship with local banks is good. Banks are ready to finance the company's investments when needed," he said without giving further details.

The firm's financial obligations stand at about 150 million dinars, of which 80 percent is long-term debts, he said.

Boodai could not immediately be reached for comment.

Securities House is an Islamic investment firm. (Reuters)

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