Mubasher: Al Deera Holding Co. is negotiating with its lenders to capitalise KWD 12.36 million in debts, the company’s chairman said.
These deliberations are part of the firm’s strategy to reduce expenses and financial burdens, Al Jarida reported, citing Talal Al Bahar as saying during a general assembly meeting held on Wednesday, 22 May.
The chairman further noted that Al Deera is seeking to achieve positive results over the coming period in spite of economic challenges in the region.
The company’s shareholders also approved the board’s proposal for not distributing cash dividends for the full fiscal year 2018.
In 2018, Al Deera Holding turned profitable after posting KWD 469,830, against KWD 1.46 million in losses a year earlier.
