Kuwait’s official Gazette announced the establishment of two Kuwaiti companies with the combined capital of KD 12 million.
The first company is “Kharbaqa” company for building and constructions, established as a closed shareholding company, with a capital of KD 10 million, with 100 million shares at 100 fils each.
The company is specialized in construction contracting for buildings, roads, and bridges, and can manage and supervise these facilities. It is also to produce construction material of various kinds and trade in cement, sand, and other loose building material.
The second company is “istidamah” Shareholding Company, with the capital of KD 2 million and 20 million shares at 100 fils each.
The company is specialized in owning shares in Kuwaiti or foreign shareholding companies, and owning shares and stakes in Kuwaiti or foreign companies with limited liability, besides participating in the establishment of such companies.
The company can also own industrial property rights, patents, industrial trademarks, industrial designs, or any other rights and lease them to other companies to be used either inside or outside Kuwait.
The two companies may use available surplus to invest in portfolios managed by specialized companies and bodies.
The companies may have interests in or strike partnerships with bodies engaged in similar activities, or those bodies which would facilitate meeting their objectives
