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The letter, dated 5 November 2024, is addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market. It announces that the Board of Directors of Dubai Refreshment P.J.S.C will hold a meeting on Tuesday, 12 November 2024, at 10:00 AM. The agenda includes discussing and approving the company's unaudited interim financial statements for the third quarter ending 30 September 2024, as well as addressing internal company matters. The letter is signed by Karem Mahmoud, Director of Legal at Dubai Refreshment P.J.S.C.
Amlak Finance PJSC reported a net profit of AED 53 million for Q3 2024, a decrease from AED 269 million in Q3 2023. Total assets were AED 3.19 billion. Revenue from financing and investing increased by 14% to AED 103 million, while total revenue rose slightly to AED 231 million, excluding a one-off gain from the previous year. Operating costs increased by 6% to AED 72 million due to costs associated with the expedited sale of investment properties. The company repaid AED 69 million to financiers and has settled 84% of its Islamic deposit liabilities since 2014. Negotiations are ongoing to exit the Common Terms Agreement with remaining financiers. Amortization costs decreased to AED 24 million from AED 31 million in Q3 2023. Amlak's financial position was affected by the devaluation of the Egyptian Pound against the AED.
Amlak Finance PJSC and its subsidiaries have released their unaudited condensed consolidated interim financial information for the nine-month period ending on September 30, 2024.
GFH Financial Group B.S.C. announced the postponement of its Board of Directors meeting, initially scheduled for 7th November 2024, to 12th November 2024. The meeting will begin at 2 p.m. Bahrain time and will cover the financial results for the third quarter of 2024 and other internal matters. This follows a previous disclosure made on 24th September 2024 about the meeting. The announcement was made by Mariam Jowhary, Head of Compliance & AML.
GFH Financial Group B.S.C. announced a partnership with Infracorp and Kempinski to launch the Harbour Heights Kempinski Hotel and exclusive branded residences, coinciding with the Gateway Gulf Forum 2024. This investment is expected to have a positive impact on the group's financials and increase returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML. Further details are available in the attached release.
Resolution No. 500 of 2024 announces the temporary suspension of trading for the shares of Sharjah Cement and Industrial Development Co. (SCIDC) on the Abu Dhabi Securities Exchange (ADX). This suspension is scheduled to begin at 12:00 on November 12, 2024, coinciding with the company's Board of Directors meeting, and will remain in effect until ADX receives the results of this meeting. The resolution mandates that all relevant departments within ADX implement this decision and that it be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was issued on November 5, 2024, and has been approved by the authorized person.