Educational posts KD 495,169 annual profit

Board of Directors recommend 3 pct cash dividend

KUWAIT CITY, Dec 2: Board of Directors of Educational Holding Group Company (Educational) met on Nov 29, 2012 and approved the interim financial statements for the financial year ending Aug 31, 2012. Particulars

Aug 31,’12 Aug 31, ’11 Profit (Loss) (KD) 495,169 458,394 Earnings per share (fils) 2.0 1.9 Total current assets 8,698,125 7,312,804 Total assets 59,462,262 60,869,383 Total current liabilities 5,827,383 14,260,538 Total liabilities 25,830,962 27,570,211 Total shareholders’ equity 28,706,428 28,012,133

The Board of Directors of the company decided to distribute cash dividend 3% of the nominal value of 3 fils per share for the financial year ending Aug 31, 2012, to shareholders registered company records on the general assembly. The distribution will be sourced from through retained earnings. Note that this recommendation is subject to approval of the shareholders and the competent authorities.

Al Arabi Group Holding Company ( AGHC) announced that its 73% owned subsidiary Arabi Energy & Technology Company was awarded two tenders worth KD 28.7 million.

1. First tender - the subsidiary company will establish crude oil flow pipelines for Kuwait Oil Company (KOC) over two and half years at a total value of KD 27.7 million.

2. The second KD 981,250 worth of deal relates to the rehabilitation and maintenance of Mubarak Al-Kabeer Mosques (2nd Area) for the Ministry of Awqaf over two years.

The financial impact of both contracts will reflect on financial statements as of the second quarter of 2013, and the year ending 2014 and 2015.

National Ranges Company announced issuing a final verdict from the Arbitration Committee appointed by the Chamber of Commerce and Industry in Abu Dhabi regarding its dispute with the main contractor of Shams Project Abu Dhabi-Al Reem Island. The committee forced the contractor to pay AED 140,901,188 to MAYADEEN in addition to AED 4,168,638 as the arbitration fees prior to December 20, 2012.

United Gulf Bank announced holding its Ordinary General Assembly Meeting on December 19, 2012 to approve distributing the bank’s remaining profits on June 30, 2012. The interim profits amounting to $ 96.8 Mill will be distributed as shares in United Industries Company’s capital at 16 shares in Industries/ 100 shares in the bank’s capital.