Dr. Saad Al-Rashidi, Chairman of the Board of Directors of Integral Holding Company, stated that the company's shares have been included on the OTC Platform for trading as “Hybrid deals” with the stock number 825. Shares in unlisted companies are traded on the OTC Platform as either Hybrid or Negotiated deals. This decision by Integral Holding Company, comes from the company’s keenness to open new channels with investors, given the flexibility and ease of trading on the OTC platform in the company's shares and the high transparency in share price bids and asks.
He explained that the company's ordinary general assembly for the fiscal year ending on 31/12/2019 was held on 23/8/2020 in the presence of shareholders who own 99.9% of the company’s capital. The agenda items were discussed and approved by 99.9% of the shareholders attending.
The company's general assembly agreed to distribute cash dividends for the year 2019 by 12% (12 fils per share), so that the total cash dividends that the company distributed during the past (3 years) amounted to 32.3 fils per share. Mr. Saad Al-Rashidi noted, through the Board of Directors' report, an increase in revenues of 9.4% over the year 2018, as well as a decrease in expenses and other liabilities by 9.2%. The company achieved a net profit for the year 2019 of KD 1,204,612, compared to a net profit of KD 1,167,923 for the year 2018. The book value of the share on December 31st, 2019 was 152 fils per share.
He reported that the company's assets increased from KD 9,405,246 in 2018 to KD 9,791,291 in 2019, achieving a 4% increase. Shareholder Equity increased by 5.6% in 2019, which shows the strength of the company's financial position and its ability to develop and grow in the future.
He also indicated that the most important accomplishments achieved by the company during 2019, was the expansion and increase in the volume of the company's operational operations through the increase and purchase of assets, machinery and equipment, as well as the company has expanded one of its subsidiaries in the Kingdom of Saudi Arabia which specializes in manufacturing luxury temporary buildings and tents of various types and sizes as well as extensions. The company is currently working on expanding its support in the Hajj sector, which is expected to witness significant growth in the coming years, since Hajj will be in the summer season, making temporary buildings extremely necessary.
In 2020, one of the 100% owned subsidiaries implemented the largest medical quarantine facility in Kuwait, with a capacity of 5,000 beds, near Jaber Stadium, which includes a field hospital and a medical center to combat the Covid 19 virus, and also includes housing for medical and nursing staff, centers for intensive care, pharmacies, and an ambulance and fire fighting center.
The company recorded a net profit for the first half of 2020, amounting to KD 1,056,374 which indicates the company's ability to operate and achieve profits in the most difficult circumstances.
Mr. Saad Al-Rashidi added that, based on the principle of transparency, Integral Holding Company is keen to present its information and financial statements through almowazi.com. Almowazi is the first provider of data and information on the price of shares of unlisted companies traded on Boursa Kuwait.