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SHUAA Capital PSC and its subsidiaries have released their condensed consolidated interim financial information for the period from January 1, 2025, to March 31, 2025.
SHUAA Capital psc reported accumulated losses of AED 932 million for Q1 2025, with an accumulated losses to capital ratio of 25.47%. The losses are primarily due to fair value losses from impairments of investments, goodwill, and receivable write-offs related to investments in the UK, as well as impairments and write-offs associated with legacy real estate assets. Additional losses stem from valuation adjustments of an associate's underlying asset, the recognition of a deferred tax liability due to new corporate tax laws in the UAE, and receivable write-offs following a revision of land valuation in the UAE. The company also experienced fair value losses from investments in public market securities and managed investments. To address these losses, SHUAA Capital is developing a 5-year plan aimed at business growth and value creation. This includes launching new investment funds, reactivating their investment banking platform, and implementing a lean operating structure to improve cost efficiencies.
SHUAA Capital reported a net profit of AED 196 million for the first quarter of 2025, marking a significant turnaround from a net loss of AED 161 million in the previous quarter. This improvement is attributed to the successful execution of a capital optimization strategy, which included reducing debt by over 60%. The company also achieved a 46% revenue growth, with contributions from all business segments. SHUAA's leadership expressed confidence in the company's future growth and its ability to deliver sustainable value to shareholders. Key financial metrics showed improvements in revenue, net operating income, and cost-income ratio compared to the previous quarter.
Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219, has its main office located at The H Hotel, Office Tower, 15th Floor, Office No. 1502, Dubai, UAE. The company can be contacted via phone at +971 (4) 330 3600 or fax at +971 (4) 330 3550. On May 16, 2025, Shuaa Capital's Board of Directors approved, by circulation, the adoption of the company's consolidated and audited financial statements for the period ending March 31, 2025. The notification was addressed to Mr. Hamid Ahmed Ali, CEO of the Dubai Financial Market. The announcement was signed by Islam Mahrous, the Chief Compliance Officer.
The document outlines the financial situation of Takaful Emarat – Insurance (PSC) as of May 15, 2025, in compliance with the SCA Board of Directors’ Decision No. (32/R.M.) of 2019. The company has accumulated losses amounting to AED 47,412 thousand, which constitutes 22.5% of its paid-up capital. These losses started in 2019 due to higher-than-expected medical claims and lower investment returns, further exacerbated by a merger and acquisition project between 2020 and 2022, asset revaluation, and restated financial statements for equity investment impairments. Despite these challenges, the company has improved its solvency position, enhancing financial stability, regulatory standing, and market credibility. This improvement supports stakeholder confidence and enables the company to pursue strategic growth opportunities, invest in innovation, and expand its product offerings. The company is focusing on sustainable business development and improved underwriting performance to address these accumulated losses.
Watania International Holding (PJSC) has released its unaudited condensed interim consolidated financial information for the period ending 31 March 2025.
On 14 May 2025, Watania International Holding (PJSC) held a Board of Directors meeting starting at 3:30 PM. During the meeting, the board approved the financial statements for the first quarter ending 31 March 2025 and discussed routine business matters. The meeting details were signed by Nawal Ma’ally, the Board Secretary, on 15 May 2025, and the company's seal was applied.