Ajail Real Estate and Entertainment Company

Capitalization, Equity, Description:

* Closing market price (as at 10 Oct 2010) : 126 KW Fils ( KD 0.126); 52-Wk Low (19 Aug 2010) - 116 KW fils; 52-Wk High (27 Dec 2009) - 184 KW fils;

* Number of units on Issue(as at 30 Jun 2010) : 175.44m;

* Market Capitalization (as at 10 Oct 2010): KD 22.10m (USD 78.25m); decrease of 27.59% since Dec-09; decrease of 38% since Jun-09.

* Unit holder equity (as at Jun-10): KD 85.26m (USD 301.83m); decline of 1.08% & 4.20% since Dec-09 & Jun-09 respectively;

* Book value per share (as at Jun-10) 486 KW Fils (KD 0.486); a decrease of 1.08% since Dec-09;

* P/B 0.259 (Considering equity as book value); discount 74.07 % ;

* The company had cash and cash equivalents of KD 14.14m (USD 50.08m) as at Jun-10; which includes bank overdraft of USD 19.04m and term deposits (whose maturity is more that 3 months) of USD 45.84m; so, the cash balance becomes USD (14.80m); (-23.83 fils per share; the share price: 126 fils);

* Investment properties1 (Jun-10): USD 634.23m (Dec-09: USD 531.52m, Jun-09: USD 459.78m); property increased 37.94% since Jun-09 as property amounting USD 103.14m and USD 154.31m has been added to investment property as of Jun-10 and Dec-09 respectively;

* Investment properties include properties under development of KD 174.14m (USD 616.46m) as of Jun-10; which is 97.2% of total investment property.

* Construction cost (Jun-10): USD 432.62m (Dec-09: USD 339.47m, Jun-09: USD 272.36m); construction cost is included in property under development.

* Financial assets available for sale (Jun-10): USD 32.40m ( Dec-09: USD 33.12m, Jun-09: USD 37.12m);

* Financial assets at fair value through profit or loss (Jun-10) : USD 28.59m ( Dec-09: USD 32.65m);

* Ajail did not provide any dividend for FY-2008 & FY-2009.

* Ajail Real Estate and Entertainment Company is a shareholding company established on 26 October 1996 and is based in Safat, Kuwait. The...