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2014-02-19
The Arab Palestinian Investment Company “APIC” organized in Ramallah , yesterday , a workshop with Palestinian brokerage firms to introduce the company as a prelude to list its shares for trading on the Palestine Stock Exchange early next month , specifically on Sunday of March, 02. In this context , Ahmed Judeh , the CIFO of APIC highlighted the importance of this step , noting that " APIC " is one of the major investment holding companies in Palestine, which vary their investments in the fields of industry , distribution and services, and different vital sectors. APIC owns majority stakes in a group that is made up of nine subsidiary companies namely, Siniora Food Industries, National Aluminum and Profiles, Unipal General Trading Company, Central and West Africa for Commercial Agencies , Medical Supplies & Services , Arab Palestinian Shopping Centers , Palestinian Automotive Company , Sky Advertising, Event Management & PR, and the Arab Palestinian Storage and Cooling.The company"s industrial activities diversified of manufacturing and food processing to produce aluminum, and in the services sector the company operates in the field of advertising services in addition to equipment and medical services. Moreover, as part of the operations of the company in the trade and distribution, it acts as a distributor for many international companies and commercial agencies, such as Philip Morris Procter & Gamble, Hyundai, XL Energy, Abbott International, Eli Lilly, B. Braun, as well as more than 50 global product comprise a large part of the Palestinian market consumption basket in all segments.
Judeh reported " converting APIC company to a foreign public shareholding company venerate it"s place in the Palestinian market, moreover, listing it"s shares on the Palestine Stock Exchange will expand the base of shareholders in the company in which will benefit the national economy in General and new contributors in particular; the distribution of brochures has been through the meeting to enable investors to consider all aspects of the company, the Executive management and the Board of Directors, subsidiaries and activities, investments and it"s financial results.Judeh overviewed the financial statements at the meeting, which showed the evolution of earnings and financial position of the company, with total revenues of $453.19 million in 2013 and a net profit of $11.07 million for the same year. The company"s income attributable to the shareholders after the exclusion of minority interest amounted $7.98 million, total assets amounted to $236.47 million and net shareholders $70.49 million with a paid-up capital of 50 million at the end of 2013
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