Kuwait’s KIPCO eyes investment boom amid expansion plans

KUWAIT, Kuwait Projects Company (KIPCO) plans to focus on investment growth as the cornerstone of its future plans and endeavors, the chief executive of the country's largest listed investment firm Sheikha Adana Al-Sabah said on Tuesday. KIPCO is hard at work in its efforts to keep investment growth steady and perpetual, the official said as she outlined some of the company's most recent accomplishments, saying the company's future plans will revolve around policies that promote "innovative investment." On revenue growth, she said the process has been on an upward trajectory thanks in part to key mergers and other similar business decisions that allowed KIPCO's net asset value to reach KD 603 million (USD 1.9 billion). She went on to cite a 52 percent stake in Burgan Bank Turkiye, which was sold to KIPCO subsidiary, Al Rawabi United Holding, as among the shrewd and notable business practices undertaken last year. Source: Kuwait News Agency