Mumtalakat Contributes to State Budget for First Time since its Establishment

2017-10-05 - 3:50 am

Bahrain Mirror: The Board of Directors of Bahrain Mumtalakat Holding Company (Mumtalakat) announced on Tuesday (October 3, 2017) its approval to distribute profits of BD 20 million to the National Budget, for the very first time since it was established over 10 years ago.

Mumtalakat said that its contribution will be distributed equally for the years 2017 and 2018.

"Although we continued to finance ourselves independently and meet our debt obligations, which resulted from borrowings to cover the losses of some of our subsidiaries, our investment model remained resilient, leading to a net profit of BD 68.9 million in 2016," it further stated.

Mumtalakat manages more than 30 Bahraini companies, including Aluminium Bahrain (Alba), Bahrain Telecommunications Company (Batelco) and Arab Shipbuilding and Repair Yard Company (ASRY).

Arabic Version


المصدر: Bahrain Mirror
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