Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Board of Directors of PADICO approves the restructuring of its subsidiaries and investing in the sectors of water and electricity

2009-03-31

Jafar Sadaqa wrote:
Board of Directors of Palestine Development and Investment PADICO said that they recommend to the General Assembly of the company that is scheduled to hold a regular meeting in the Jordanian capital 13, May to distribute cash dividends to the shareholders by %6 of the par value of the share, that amounted $15 million which represent %64.6 of the profits earned in the year 2008, which had amounted $23.22  million.
The board held a lengthy meeting lasted for four hours in Amman, the day before yesterday, in which they discussed the balance sheet and the results of the company in 2008, and the current year budget and future investment plans, and performance of its affiliates and allies, and the plan of restructuring of companies operating in the sectors of: real estate, tourism and industrial cities.
The Chairman of the Board of Directors Munib Al Masri said: "The board"s decision of  recommendation to distribute profits reflects the company and board of directors" care to the interest of shareholders, despite the fact that the company bought the share of  Global Investment House Global in the company of Palestine Real Estate Investment PRICO that worth $18 million, as well as share at the PSE of $5.05 million in addition to the ongoing preparations for the entry of new investments in infrastructure sectors. He pointed out that the board of directors will do everything possible to ensure always the distribution of profits to shareholders each year.

Improvement in the performance of subsidiaries:


Al Masri said "The board of directors reviewed comprehensively the performance of its affiliates and allies and subsidiaries", praising in the context the significant improvement in the performance of a number of them, which enabled them to distribute profits, such as Golden Wheat Mills, Palestine Tourism Investment in Bethlehem, Palestine poultry, in addition to vegetable oils industry company.
The Board reviewed the investment performance of the companies of the group, and adopted a set of policies and approaches that will enhance the performance of the parent company PADICO"s share and the rest of its companies.

 
Partnership between PALTEL and ZAIN:

 

 The board briefed the latest developments related to the strategic partnership between the group ZAIN and PALTEL, as PADICO is the main founder and shareholder in PALTEL, where the board expressed its full confidence in the management of Mr. Sabieh Masri of this process, both in negotiations with ZAIN or with the Palestinian National Authority in order of the completion of this successful deal to be in the interest of citizens and stakeholders and the national economy in general, asserting that PADICO  was  and remains and will remain an integral part of the success of PALTEL in the past, present and future, and will maintain its share fully in the company after the completion of the transaction.

Holding company with capital of $300 million:


From his side, Hleileh described the board"s meeting as a comprehensive and detailed meeting where they discussed in depth a number of substantive issues among the performance of the company and its affiliates and allies, in addition to future investment plans.
Hleileh said that the board heard a full presentation on the subject of restructuring the group companies and allies that operate in the sectors of real estate, tourism and industrial cities, and discussed the restructuring plan, and approved an action plan and set up a committee to oversee and follow up the implementation process, including contact with relevant parties such as partners and officials in Palestinian National Authority as an companies observer of capital market observer.
It is expected to be the result of the restructuring process of establishment a large holding company with a capital of more than 300 million dollars, and will be on the on regional and international levels, and listed in Palestine Securities Exchange; and work in the areas of: real estate development and management, and implementation of contracting and construction. Hleileh said: The restructuring plan will bring considerable savings in expenses and costs, and will enable a focused decision-making so as to make it a major player in the Palestinian market.

Company for investment in water sector:


Also, Hleileh said that the board discussed the proposed plan for the development of the company"s investment in the infrastructure sector, where it approved the investment in the water sector, to be completed within the official communication and technical studies required for the proposed projects for investment in the medium term. And PADICO will establish a new company to invest in this sector; its first product will be investment in 9 projects in various cities of the Palestinian territories.

Investment in a power station in the north:


Further, the board discussed the plans of the company"s investment in the electricity sector, which PADICO contributed in the establishment of the power generation in the Gaza Strip, and it is interested in the contribution in any project in this vital area.
Hleileh said: "We are on contact with the Energy Authority since 1998 to establish a power station in north, and now we are to create to participate in the tender which the energy authority to establish such a plant.

 

 

 


 

2018-02-22
The PEX records average PE of 13.8x and average P/BV of 1.23x

2018-02-21
NSC posts net income of JD0.37 million at the end of 2017

2018-02-21
UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013