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Kuwait Financial Centre K.P.S.C. "Markaz" (Boursa Kuwait: MARKAZ) Investor Presentation Asset Management | Investment Banking Discussion Guide Company Profile .................................. 3 Service Offerings
Kuwait Financial Centre K.P.S.C. "Markaz" (Boursa Kuwait: MARKAZ)
Asset Management | Investment Banking
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Company Profile .…………................................. 3 Service Offerings ……………….................…….. 9 Strategic Direction ………..…………...……….…21 Corporate Governance ………………………......25 Financial Performance ………..……....……….…29 Corporate, Social and Economic Responsibility..43
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Sustainable long-term shareholder returns Generates sustainable long-term returns driven by robust operations and consistent dividend payouts Leading market position As one of the region’s leading asset management and investment banking firm, Markaz offers custom investment solutions with exceptional track record Building a sustainable economy in Kuwait Endeavors to actively participate in community service and contribute to building a sustainable economy in Kuwait Our Team - cornerstone of our success A team of 150+ employees spread over
At Markaz, our reputation is our biggest asset. We have been voluntarily operating under strict guidelines long before corporate governance was the norm
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Our Vision Our Mission The Choice For Wealth Creation We build sustainable wealth for our clients and partners through prudent and innovative solutions.
Client Focus
Innovation
Controls
firm
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* Current AUM / Investments (As of Mar 31, 2018)
Asset Management:
Real Estate Investments:
Investment Banking:
Research:
billion Total Assets under Management
million Asset Management AUM
million Real Estate Investments AUM
billion Investment Banking Transactions to date
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Kuwait Bahrain Qatar Oman KSA UAE Egypt Jordan Lebanon India Germany US
Equity Funds Fixed Income MENA Real Estate Investments International Real Estate Investment Banking Advisory Offices
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Best Asset Manager in Kuwait
By: EMEA Finance
Best Investment Bank
By: Global Finance
Best Investment Bank in Kuwait
By: Global Finance
Best Investment Bank
By: Euromoney Awards
Best Equity Fund in Kuwait “Mumtaz”
By: MENA Fund Manager Awards
Best Islamic Fund
By: Zawya Awards
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Asset Management
investing globally
MENA Real Estate
Authority’s National Real Estate Portfolio, Kuwait (Value up to KD 250 million)
Placement)
development properties across KSA & UAE
International Real Estate
transactions with 3 ongoing US focused funds
Management, headquartered in Los Angeles, California
asset classes and development stages
Research
Markaz
Kuwait Investment Banking
KD 1.18 billion to date across the GCC region
capital markets, listings, restructuring and other advisory transactions
* Current AUM / Investments (As of Mar 31, 2018)
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Midaf Fund Kuwait Focused; AUM of KD 87.1 million Mumtaz Fund Kuwait Focused; AUM of KD 62.8 million Forsa Financial Fund Kuwait Focused; AUM of KD 40.0 million Arabian Fund MENA Focused; AUM of KD 10.3 million Islamic Fund Kuwait Focused; AUM of KD 14.8 million GCC Equity Funds Mumtaz Fixed Income Fund (Private Placement - June 2018)
Fixed Income Funds* Private Client Portfolios* Oil & Gas, Private Equity and Other Investments
* Private Portfolios and Funds AUM undisclosed
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MENA Real Estate Advisory
region
started in 1998 with the launch
Services Investment Philosophy
developing institutional quality properties
closure of a transaction Professional Network
consultants, brokers, financial institutions and partners
spectrum of the real estate sector investing in income generating assets Portfolios and Funds Overview
Kuwait Investment Authority’s National Real Estate Portfolio and Markaz Real Estate Fund
commercial buildings and 1 residential projects under development
generating properties and 2 residential projects under development
(Private Placement)
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KSA Markaz started its operations in the KSA in 2006 and has offices in Riyadh and Khobar Projects Overview Projects under development:
valued at KD 15 million Income Generating Properties
units of offices and shops
Kuwait
Investment Authority’s National Real Estate Portfolio with a value up to KD 250 million
79 million across 19 properties
Placement) UAE Markaz started its operations in the UAE in 2010 and has offices in Dubai and in Abu Dhabi Projects Overview Projects under development:
and valued at KD 18 million
valued at KD 19 million Income Generating Properties
Island of 58 units
Island of 35 units
Island (Boardwalk) of 35 units
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Track Record Funds Funds Overview Start Exit
Markaz U.S. Industrial Realty Fund – I 12 warehouses across 7 states 2002 2011 Markaz BBK U.S. Retail Fund – II 7 retail malls across 6 states 2003 2006 Markaz BBK U.S. Retail Fund – III 13 grocery centres across 5 states 2004 2014 Markaz BBK U.S. Multifamily Fund - IV 3 apartments of 796 units across 3 states 2007 2014
Ongoing Funds Funds Overview Start Exit
Markaz U.S Distressed Debt Portfolio 14 commercial whole loan mortgages across 3 states 2010
Portfolio – VI 13 commercial development across 5 states 2013
Portfolio – VII 3 value-add apartments of 947 units in Austin, Chicago and Kansas 2017
1 International real estate operations established in 1978, with the launching of our first syndicated real estate investment in the US Manages operations through a fully owned subsidiary, Mar-Gulf Management, Inc., located in Los Angeles, California and established in 1988 2 Involved in the ownership and development of over 112 properties for a total development / acquisition cost of over USD 1.3 Billion. This includes c. 6.5 mn sft. of industrial warehouse space, 3.5 mn
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Project Type Asset Location Initiated Ended IRR* Freeport 9 Office Development Texas 2013 2015 15.6% Legacy – Dominion Office Development Texas 2013 2016 11.3% Lakeside Office Development Texas 2014 2016 19.5% Parkwood Granite Office Development Texas 2014 2016 23.8% Doerr Lane Industrial Development Texas 2014 2017 10.7% Alta Fillmore Multifamily Development Arizona 2015 2017 16.8% Parc Post Industrial Development Nevada 2015 2017 16.4% DFW Industrial Industrial Development Texas 2016 On-going
Office Development Texas 2016 2016 28.1% Carson Self Storage Development California 2017 2018 20.9% Parc Pinnacle Industrial Development Arizona 2017 On-going
Office Development Texas 2017 On-going
Self Storage Income Florida 2017 On-going
Multifamily Income Texas 2017 On-going
Office Income Germany 2017 On-going
Multifamily Income Missouri 2017 On-going
Multifamily Income Illinois 2017 On-going
Industrial Development Nevada 2018 On-going
Average Cash on Cash
Average Loan to Cost
(USD million) Total Project Cost
Across US States
* Realized IRR and Cash on Cash Return Multiple, net of all fees, expenses and taxes
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Recently Acquired Developments
Carson Self Storage Conversion Location: Los Angeles, California Size: 69,630 sq. ft. Parc Pinnacle Industrial Location: Phoenix, Arizona Size: 311,840 sq. ft. Freeport 10 Office Development Location: Dallas, Texas Size: 112,500 sq. ft. West Palm Beach Self Storage Location: Palm Beach, Florida Size: 118,110 sq. ft. Longley Industrial Development Location: Los Angeles, California Size: 270,975 sq. ft. Bristol Heights Residential Location: Austin, Texas Apartment Units: 351 QiDUS Office Building Location: Dusseldorf, Germany Size: 19,260 sq. mtr. Riverstone Residential Location: Kanas City, Missouri Apartment Units: 324 Legacy at Fox Valley Residential Location: Chicago, Illinois Apartment Units: 272 Parc Santa Fe Industrial Location: Denver, Colorado Size: 344,679 sq. ft. Vista Self Storage Development Location: San Diego, California Size: 73,850 sq. ft.
Upcoming Developments Income Producing Investments
Years Holding Period Range
Of Project Cost Average Equity Ratio
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Best Investment Bank in Kuwait 2011, ‘12, ‘14, ‘15, ‘16, ‘17 Best Investment Bank in Kuwait 2013, ‘14, ‘15, ‘16, ‘17 Best Investment Bank in Kuwait 2013, ‘14 Most Innovative Investment Bank in the Middle East 2016
Advisory Services
and sell-side
studies
appraisals
Advisory Capital Markets
Capital Markets Services
and Debt Instruments
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December 2017
Stake 5.6% Advised a client in acquiring a minority stake in a financial services company
February 2017
Stake 40% Advised a client in selling a significant minority stake in a regional building materials company
September 2016
Stake 100% Sale of a real estate company on behalf
August 2015
Stake 61.3% Lead M&A advisor to Al Ahleia Insurance Company in acquiring Kuwait Reinsurance Company.
September 2017
Stake 40% Advising a client in selling a significant minority stake in an education services company
December 2017
Stake 29.5% Advised a consortium
significant minority stake in a regional contracting company
November 2017
Stake 100% Advising a client in selling a majority stake in a local bilingual school
January 2017
Stake 20% Advised a client in selling a significant minority stake in a regional building materials company
June 2016
Stake 17% Advised a client in selling a significant minority stake in a food trading company
April 2015
Stake 6.2% Assisted a consortium of local sellers in selling their stake in a regional home services company
July 2017
Stake 25% Advised a client in selling a significant minority stake in four regional building materials companies
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2017
Size: KD 10.8mn Lead manager for capital increase of independent petroleum company
2016
Size: KD 25mn Kuwait Financial Centre K.P.S.C. (Markaz)
2013
Size: KD 15mn Managed the listing
Specialties Group Holding Company
2007
Size: KD 50mn Acted as Lead arranger and Financial Advisor on Ijara Sukuk issuance by Kuwait Resorts Company K.S.C.C.
2006
Size: KD 80.82mn Advised on and managed the process
Bank of Bahrain and Kuwait on Boursa Kuwait
2005
Size: KD 100mn Acted as Senior Lead Manager on Ijara Sukuk issuance by Commercial Real Estate Company K.S.C.P.
2007
Size: KD 66.15mn Managed the Rights Issue for Privatization Holding Company K.P.S.C.
2018
Size: KD 20mn Lead manager for capital increase of UPAC
2016
Size: KD 100mn Acted as co-lead manager on the issuance of Gulf Bank K.P.S.C. Tier II Bonds
2015
Size: KD 100mn Murahaba sukuk for National Industries Group Holding K.P.S.C.
2012
Size: KD 26.5mn Acted as Co-lead Manager for issuance of Fixed/Floating Rate Bonds for Al ARGAN International Real Estate Company K.P.S.C.
2007
Size: KD 3.9mn Advised on and managed the process of listing the shares of Vending Network Company on Boursa Kuwait
2006
Size: KD 42.32mn Managed capital increase for National Industries Company for Building Materials K.P.S.C.
2004
Size: KD 12.7mn Managed capital increase through placement of KD 12.70 Mn for Human Soft Holding Company
2007
Size: KD 17.4mn Managed capital increase of KD 17.40 Mn for Independent Petroleum Group
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Capital Market Research Capital market reports provide an analysis of stock & bond markets in the MENA region. These reports are strategic in nature and provide a thorough investment perspective Policy Research Marmore has partnered with several thought leaders and institutions of repute to generate economic policy research studies in key areas like energy, labor, economic structure and public sector Infrastructure Research The infrastructure report analyzes the link between economic development and infrastructure and showcases supply and demand challenges and investment opportunities in the GCC Consulting Services Marmore provides customized consulting services that meet the challenges of cost, time, scope and data availability to generate actionable outcomes that are specific to our clients’ needs Industry Research Industry reports focus on industry structure, key players, market analysis, demand drivers, competitive analysis and regulatory requirements Economic Research Includes thematic discussions based on current economic dynamics The reports aid key stakeholders in understanding the impact of a particular theme
Regulatory Research The regulatory research series is an effective consolidation, analysis and summary of key business, economic, and market regulations that impact business environment Periodic Research Our periodic reports capture GCC stock markets’ earnings, risk premium studies, and economic development and
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seek new risk averse investment products
and growing investment banking fees
mandates, as they continue to increase funding through capital markets access
level financing
across the organization
Dynamic Client Expectation Positive Reforms in Kuwait Subdued GCC Economy and Low Investor Sentiment Improving Global Economy
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At the forefront of distressed debt investing, foreign direct investment, regulations and development of local fixed income markets:
116 of 2013)
Kuwait Markaz has over 400 institutional and high net-worth clients that are active in the regional capital markets Exchange traded options on the Kuwait Stock Exchange and become sole market-maker True Real Estate Investment Trust in 2003 Money Market Fund Private Equity Fund of Funds 1st In Kuwait to launch:
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VP – Private Banking & Investor Relations
Senior VP – HR & Administration
Nusif Senior VP - Private Banking
Zeineddin Senior VP - MIS Systems & Operations, Risk Management
Executive VP – Corporate Affairs & Fund Administration
VP - Media & Communications
Senior VP - Investment Banking (Advisory)
Executive VP - Published Research
Executive VP - MENA Equities
Othman Executive VP - MENA Real Estate
Chowdhury Chief Financial Officer
Senior VP - Investment Banking (Fixed Income, Capital Markets)
Chief Operating Officer
Chief Executive Officer
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Chairman
experience in the financial services industry, asset management, insurance and varied enterprises in the region and internationally. He is a member of the Board of Directors of Kuwait Chamber of Commerce & Industry (KCCI) since 2001 and is presently Chairman of its Finance
Founding Chairman of Union of Investment Companies (UIC) from 2004-2009. Sheikh Humoud S. Al-Salem Al- Sabah Vice Chairman Sheikh Al-Sabah is the Chairman
Hyundai Co. for over 20 years and
Transportation Co. Petroleum Field. He also holds the position of the Vice President at Al Masar Leasing & Investment Co.
Independent Board Member
Board Audit Committee. He is the Managing Director of Al-Baseet Trading Co. He holds a University Degree from Alexandria University.
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Non-Executive Board Member
Manager at Kuwait Petroleum International from 2004 until 2008. He previously held the position of Finance Director at KPIAC in UK, KP Italy and KP Thailand.
Professional Accounting from University of Miami and a Bachelor’s Degree in Accounting from Kuwait University.
Independent Board Member
Member and Director Manager for Kapico Group Holding Co. since 2003 and Board Member of Al Ahleia Insurance Company.
degree in Business Administration from the USA.
Non-Executive Board Member
Director General of Al-Jouan General Trading & Contracting Company and Chairman of the Board of Directors of AlKout Industrial Projects. He is a board member in the Chamber of Commerce and Industry of Kuwait, National Petroleum Services Co. and Vice–Chairman of the Public Authority for Industry and Al-Dorra Petroleum Services. He holds a Bachelor’s Degree in Business Administration from Eastern Washington University.
Non-Executive Board Member
the Alshaya group of businesses, a Kuwait based company founded in 1890. He has been CEO of the Trading Division in Alshaya Group since 1989 and the Chairman of Al Ahleia Insurance Company.
Degree in Mechanical Engineering from Kuwait University.
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Board Executive Committee
Nominations & Remuneration Committee
Audit Committee
Risk Management Committee
Our Statutory Auditors Grant Thornton (Al-Qatami, Al-Aiban & Partners) and Deloitte (Al-Wazzan & Co.)
Independent Director Non-Executive Director Chairman
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Q1 2018 vs. Q1 2017 (KD million)
2017 Cash dividend of 7.0 Fils per share
12M 2017 vs. 12M 2016 (KD million)
4.03 4.43 2,016 2,017 13.93 15.40 2,016 2,017
Revenue
*Net Profit Total Revenue KD 4.90 mn Growth: 7.4% Management Fees KD 2.1 mn Growth: 44.8% Net Profit* KD 1.71 mn Margin: 35% Annualized Return on Equity of 7.6% Total Assets Under Management KD 1.042 billion Total Debt / Equity of 0.5x
*Net Profit attributable to parent company excluding non-controlling interest
2017 2016 2017 2016
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10.0 6.0 5.0 6.0 7.0
76.9% 75.0% 83.3% 75.0% 77.8% 2013 2014 2015 2016 2017 Dividend per Share (Fils) Dividend Payout (%) 6.6% 5.5% 4.9% 6.8% 6.4% 2013 2014 2015 2016 2017 Dividend Yield (%) Consistent Dividend Pay-out and Yield Trend 2017 Dividends
*Share price as of Dec 31, 2017 at 109 Fils
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(KWD 000's) Q1 Y-o-Y Q4 12M 2018 2017 Growth (%) 2017 2017 Management Fees and Commission 2,101 1,451 45% 2,185 7,302 Interest Income 148 183 (19%) 112 722 Dividend Income 376 435 (13%) 210 1,283 Profit from Investments at Fair Value through P/L 2,350 1,748 34% (1,387) 3,340 Gain from Investments at Fair Value through OCI 5 nm Gain on redemption/sale investments 797 nm 1,014 2,733 Gain on liquidation of subsidiaries 43 nm 48 Share of results of associate and joint venture (35) (14) nm (104) (153) Loss on sale of investment properties (189) nm (23) (405) Net Rental Income 96 167 (42%) 95 490 Other Sources of Income (140) (59) nm 40 39 Total Revenue 4,901 4,562 7% 2,142 15,399 Operational Expenses 2,406 1,948 24% 2,445 8,293 EBIT 2,495 2,614 (5%) (303) 7,106 Margin (%) 51% 57% nm 46% Financial Cost 432 355 22% 381 1,502 Net Profit 1,982 2,141 (7%) (1,827) 3,977 Margin (%) 40% 47% nm 26% Net Profit/ (Loss) attributable to Parent Company 1,714 2,190 (22%) (1,404) 4,428 Net Profit/ (Loss) attributable to Non-Controlling Interest 268 (49) (421) (451) Earnings Per Share (Fils) 4 5 (3) 9
12M 2017 Income Analysis
Asset Management - Investment Banking Return on Principal Investments *Asset Management includes GCC Equity & Fixed Income Funds, Real Estate, International Investments and Private Equity
Management Fees & Commission 47.4% Return on Investment 52.3% Other Sources of Income 0.3%
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(KWD 000's) Mar 2018 Dec 2017 Dec 2016 ASSETS Cash and Bank balances 6,725 7,622 12,237 Time Deposits 7,154 1,430 9,857 Investments at fair value through profit or loss 91,070 49,498 48,033 Available for sale Investments 49,842 41,870 Investment Properties 48,363 46,450 35,745 Accounts receivable and other assets 4,847 7,131 5,317 Loans to Customers 270 272 253 Investments in Associate and Joint Venture 3,313 3,231 3,002 Equipment 605 631 434 Total Assets 167,746 166,107 156,748 LIABILITIES and EQUITY Liabilities Accounts Payable and other liabilities 12,984 10,309 8,327 Bank Borrowings 17,563 17,516 8,146 Bonds Issued 25,000 25,000 25,000 Total Liabilities 55,547 52,825 41,473 EQUITY Equity attributable to the owners of the Parent Company 90,419 92,418 93,275 Non-controlling Interests 21,780 20,864 22,000 Total Equity 112,199 113,282 115,275 Total Liabilities and Equity 167,746 166,107 156,748 Return on Principal Investments
Asset Management & Investment Banking
March 2018 AUM KD 1.042 billion 2017 AUM KD 1.027 billion Return on Principal Investments
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468 324 345 503 567 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 983 1,399 1,598 1,682 1,534 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 1,451 1,723 1,943 2,185 2,101 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Management Fees & Commission (KD 000’s) Investment Banking Fees (KD 000’s) Asset Management Fees (KD 000’s) 44.8% 21.2% 56.1%
*Asset Management includes GCC Equity & Fixed Income Funds, Real Estate, International Investments and Private Equity
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0.42% 0.58% 0.65% 0.66% 0.59% Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Asset Management Fees (KD 000’s) Average AUM (KD million) Management Fees Percentage (Annualized) 983 1,399 1,598 1,682 1,534 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 947 959 990 1,023 1,035 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018
*Asset Management includes GCC Equity & Fixed Income Funds, Real Estate, International Investments and Private Equity
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Income Returns (KD 000’s) Average Investment Assets* (KD million)
*Investment Assets include Investments at Fair Value through P&L + Available for Sale Investments + Investment Properties
Income Returns Percentage (Annualized) 3,170 1,448 3,523 (83) 2,941 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 126 134 139 142 143 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 10.0% 4.3% 10.1% (0.2%) 8.2% Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018
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Return on Assets (%) = LTM Net Profit attributable to parent company / Total Assets
4.2% 2.5% 5.3% 2.7% 2.4% Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 198 192 198 192 188 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Significant reduction in Net Debt
Return on Assets
Other Components of Equity
1 Fil per share in book value LTM Return on Assets (%) Book Value per Share (Fils) (KD 000's) Mar 2018 Dec 2017 Term Loan 17,563 17,516 Bonds Issued 25,000 25,000 Total Debt 42,563 42,516 Cash and Bank Balance 6,725 7,622 Time Deposits 7,154 1,430 Total Cash including Time Deposits 13,879 9,052 Net Debt 28,684 33,464 Shareholders Equity 90,419 92,418 Total Debt / Shareholders Equity 0.5x 0.5x
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*Net Profit attributable to parent company excluding non-controlling interest All financials In KD 000’s
15,982 14,699 11,257 13,926 15,399 2013 2014 2015 2016 2017 6,231 4,021 2,878 4,030 4,428 39.0% 27.4% 25.6% 28.9% 28.8% 2013 2014 2015 2016 2017 *Net profit and Margin (%)
2015-2017 CAGR
2017 Y-o-Y Growth Total Revenue
2015-2017 CAGR
2017 Y-o-Y Growth
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Return on Equity (%) = Net Profit attributable to parent company / shareholder’s equity to parent company Return on Assets (%) = Net Profit attributable to parent company / Total Assets All financials In KD 000’s
Return on Assets (%)
2015-2017 expansion
2017 Y-o-Y expansion Return on Equity (%)
2015-2017 expansion
2017 Y-o-Y expansion 4.5% 2.8% 1.9% 2.6% 2.7% 2013 2014 2015 2016 2017 6.5% 4.1% 3.1% 4.3% 4.8% 2013 2014 2015 2016 2017
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Management Fees & Commission (KD 000’s) Investment Banking Fees (KD 000’s) Asset Management Fees (KD 000’s) 13.4% 41.0%
*Asset Management includes GCC Equity & Fixed Income Funds, Real Estate, International Investments and Private Equity
6,438 7,580 7,359 7,782 7,302 2013 2014 2015 2016 2017 4,016 5,192 5,511 5,282 5,662 2013 2014 2015 2016 2017 2,422 2,388 1,848 2,500 1,640 2013 2014 2015 2016 2017
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Asset Management Fees (KD 000’s) Average AUM (KD million) Management Fees Percentage
*Asset Management includes GCC Equity & Fixed Income Funds, Real Estate, International Investments and Private Equity
4,016 5,192 5,511 5,282 5,662 2013 2014 2015 2016 2017 942 1,035 1,057 980 981 2013 2014 2015 2016 2017 0.43% 0.50% 0.52% 0.54% 0.58% 2013 2014 2015 2016 2017
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Income Returns (KD 000’s) Average Investment Assets* (KD million) Income Returns Percentage
*Investment Assets include Investments at Fair Value through P&L + Available for Sale Investments + Investment Properties
9,501 6,676 3,010 5,576 8,058 2013 2014 2015 2016 2017 126 134 139 142 143 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 8.3% 5.6% 2.4% 4.5% 5.7% 2013 2014 2015 2016 2017
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governance in the business environment
environment with the principles of sustainable development The strategy is founded on three main pillars, namely:
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“Humanitarian Partner” to Kuwait Red Crescent Society Markaz joined hands as a “Humanitarian Partner” with Kuwait Red Crescent Society in helping the needy patients in Kuwait and educating families with low-income. Markaz in partnership with LOYAC Markaz’s cooperation with LOYAC focuses on sustainable development of the youth in the Kuwait society through training activities and volunteer programs. 3rd Edition of (FIKRA) Entrepreneurship Program FIKRA initiative aims at supporting the youth achieve their aspirations by helping them implement ideas and start their business ventures. KACCH Child Life Program The Kuwait Association for the Care of Children in Hospital (KACCH) program aims at providing the highest standards
stressful impact of hospitalisation.
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This document has been prepared by Churchgate Partners for Kuwait Financial Centre K.P.S.C. (“Markaz”) investors, solely for informational purposes. This presentation may contain statements that are not historical facts, referred to as “forward looking statements”. The information contained herein has been prepared to assist prospective investors in making their own evaluation of the Company and does not purport to be all-inclusive or to contain all of the information a prospective or existing investor may desire. While the information presented in this document has been researched and thought to be reasonable, in general, the actual future results may differ materially from those suggested in the forward looking statements. No representations are made as to the accuracy of such statements, estimates or projections. Prospective investors will be expected to have conducted their
reading and reviewing the information contained in this document, the investor acknowledges and agrees that Markaz and/or its affiliates do not assume and hereby disclaim any liability to any party for any loss or damage caused by the use of the information contained herein or errors or omissions in the information contained in this document to make any investment decision in the company referred to herein, whether such errors or omissions result from negligence, accident or any other cause. In no event shall Markaz and/or its affiliates be liable to any party for direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of the information contained herein. Markaz and/or its affiliates specifically disclaim any guarantees, including, but not limited to, stated or implied potential profits or rates of return or investment timelines. This document (the “Presentation”) is the lawful property of Kuwait Financial Centre K.P.S.C (“Markaz”), which is regulated by the Capital Markets Authority and the Central Bank of Kuwait. This document and its contents are confidential and may not be distributed, reproduced or copied in whole or in part, nor may any of its contents be disclosed without the prior written and express permission of Markaz.
Deena Yousef Al-Refai +965 2224 8000 (Ext. 2503) VP - Investor Relations & Private Banking drefai@markaz.com Saket Somani +971 4313 2432 Churchgate Partners markaz@churchgatepartners.com
Investor Relations Contact
Kuwait Financial Centre K.P.S.C. "Markaz"
P.O. Box 23444, Safat 13095 State of Kuwait Tel: +965 2224 8000 Fax: +965 2242 5828 Email: info@markaz.com markaz.com