Business

Boursa Kuwait highlights key achievements at annual EFG Hermes Conference in UAE

KUWAIT: Boursa Kuwait participated in the 16th Annual EFG Hermes One-on-One Conference, held in Dubai on 19 and 20 September2022, shedding light on the company’s recent developments, milestones, financial information and business outlook to an audience of investors.

The exchange met with 20 international asset management funds and investment companies, who showed great interest in learning about the company’s latest developments. Representatives from the company showcased its financial data and reviewed the company’s plans to develop a transparent and solvent capital market through the implementation of a group of enhancements and regulatory projects as well as the technology to raise the capital market’s profile locally and internationally.

The EFG Hermes One-on-One Conference is considered the world’s largest conference in frontier emerging markets (FEM), connecting leaders of hundreds of companies from across the region with institutional investors and family offices managing hundreds of millions of dollars in assets.

Commenting on the company’s participation, Boursa Kuwait’s Chief Financial Officer, Naim Azad Din said: “During this prestigious conference, we met with 20 international investment companies, shedding light on the company’s milestones and financial information. Boursa Kuwait is committed to promoting the Kuwaiti capital market and raising its profile locally and internationally. The company hopes to continue to set an example for listed companies as we aim towards demonstrating our ongoing value and efficiency, proving that we are leading a progressive operation in line with dynamic world-class standards and best practices with ample room for growth and expansion.”

Boursa Kuwait recorded net profits (attributable to equity holders of the Parent Company) of KD 10.7 million for the six-month period ended 30 June 2022, an increase of 36.8 percent compared to the same period in 2021, when the company recorded net profits of around KD 7.8 million. The Group’s total assets came in at approximately KD 110.8 million, which is an almost 4 percent increase versus its 2021 total assets for the same period of KD 106.5 million, while equity (attributable to equity holders of the Parent Company) increased from KD 52.6 million on 30 June 2021 to KD 58.3 million at 30 June 2022, an increase of 10.8 percent. Meanwhile, total operating revenue came in at KD 18.4 million, an increase of 21.8 percent over the same period in 2021, which stood at approximately KD 15.1 million.

“Boursa Kuwait continues to develop its infrastructure and operational framework to attract investments from international investors and highlight the unique investment opportunities that the company has to offer for all market participants. The company is also cognizant of the pivotal role it plays as a key driver of growth and development in the Kuwaiti capital market,” Azad Din added.

Boursa Kuwait’s participation in conferences organized by prominent international organizations comes within the framework of the company’s goal of strengthening its position as a leader in the financial markets sector. The company is committed to participating in these events and conferences to gain experience and knowledge.

Over the years, Boursa Kuwait has continuously worked towards marketing the exchange and its listed companies globally, organizing roadshows and corporate days to raise awareness among international investors of the latest developments in the Kuwait capital market as well as the development projects, opportunities and advantages offered by investing in Kuwait. The company is committed to attracting investment companies and asset management funds from around the world to the Kuwaiti market.

Since its inception, Boursa Kuwait has worked diligently to create a credible exchange built on efficiency and transparency, creating a liquid capital market, a progressive exchange platform and developing a comprehensive set of reforms and enhancements that has allowed it to compete on an international level. Over the past three years, the company has rolled out numerous market reforms and new initiatives as part of its comprehensive multi-phase market development (MD) plans.

 

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