gickw – Gulf Investment Corporation

Dubai achieves world-record, lowest ever PV tariff for 900 MW solar project

May 14, 2020

Dubai Electricity and Water Authority (DEWA) and consortium led by the Saudi Arabian company ACWA Power and consisting of Gulf Investment Corporation sign Power Purchase Agreement for the fifth phase of the world’s largest single site solar park USD 570 million project awarded at world-record tariff of 1.6953 dollar cent per kWh Dubai, United Arab Emirates, 29 April 2020: Following its successful Bid Submission on the 9th of October 2019, Dubai Electricity and Water Authority (DEWA) awarded the 900MW photovoltaic fifth [...]

ACWA Power, GIC and Al Bawani to enhance water security in Saudi Arabia with Jubail 3A IWP

May 5, 2020

With a project investment value of USD $650 million, the Jubail 3A IWP will produce 600,000 m3 of potable water/day A consortium of ACWA Power, Gulf Investment Corporation (GIC) and AlBawani Water & Power Company (AlBawani) signed the water purchase agreement with the Saudi Water Partnership Company (SWPC) for a greenfield sea water reverse osmosis desalination project in Jubail, KSA. The Jubail 3A Independent Water Plant (IWP) will have an investment value of USD $650 million and a capacity of [...]

Gulf Investment Corporation generates $ 131 million in net profit for the year 2019

April 12, 2020

أعلنت مؤسسة الخليج للاستثمار نتائج أعمالها عن العام المالي المنتهي في 31 ديسمبر 2019والتي أظهرت تحقيقها أرباحاً صافية بلغت 131 مليون دولار مقابل 107 مليون دولار في العام السابق بارتفاع قدره 22%. ويأتي هذا الإعلان في أعقاب مصادقة الجمعية العامة العادية على البيانات المالية للمؤسسة،والتي انعقدت يوم أمسالإثنينالموافق6أبريل2020بمقر المؤسسة بدولة الكويت. وفي تعليقه على النتائج المالية لعام 2019، صرح السيد بدر عجيل العجيل، رئيس مجلس الإدارة، "بفضل من الله، فقدتمكنت المؤسسة من تحقيق هذه النتائج الجيدة على الرغم من العديد [...]

Gulf Investment Corporation reports net profits of $107 million for 2018

April 8, 2019

Gulf Investment Corporation (GIC) announced the results of its operations for the fiscal year ending 31 December 2018. Operating profits, before provisions, reported USD125 million, while provisions of USD18 million for the Principle Investment portfolio and other assets. As a result, the Corporation net profit reached USD107 million. The announcement follows the approval of the Corporation’s financial statements by the Annual General Meeting, held on Monday, 8th April 2019 at the GIC’s headquarters in the State of Kuwait. Commenting on the [...]

ISMS POLICY STATEMENT

July 12, 2018

Gulf Investment Corporation (GIC) has agreed to adopt an Information Security Management system(ISMS) that complies with the ISO 27001:2013 Standard. It is the intention of the Gulf Investment Corporation (GIC)'s Top Management to maintain compliance/certification with the ISO 27001 Information Security Standard for the following reasons: Gulf Investment Corporation(GIC) has an obligation to its employees, suppliers and services providers to protect the confidentiality, integrity and availability of information assets To ensure business continuity and minimise disruption to business functions by preventing [...]

Gulf Investment Corporation (GIC) reports net profit of USD 121 million for 2017

April 9, 2018

Gulf Investment Corporation (GIC) announced its results for the financial year ending 31 December 2017. Operating profits, before provisions, reported USD 181 million, while the net provisions of USD 60 million were provided for the decline in the fair value of investments in the Global Markets and the Principal Investments portfolios. As a result, the Corporation recorded a net profit of USD 121 million. The announcement follows the approval of corporation’s financial statements by the ordinary general assembly, which [...]

Gulf Investment Corporation (GIC) announced today that Moody’s Investor Service, in their recently published Credit Analysis report, have maintained its Long Term rating at A2 and Short Term rating at P-1, with a “Stable outlook”.

November 24, 2017

They emphasized our robust capital position, the strong funding & liquidity profile, the strength of management and the willingness and capability of GIC’s shareholder as key support factors, in a challenging future business environment. Moody’s is very positive on our de-leveraging strategy and the focus it will have on our assets. It is especially commendable that the rating confirmations come despite a period of increased turmoil within the regional and international operating environments. Commenting on the ratings, Mr. Ibrahim Al [...]

“Gulf Investment Corporation” participates in the capital increase of “Sudair Pharmaceuticals Company” The first plant of its kind in the Middle East region for generic oncology drugs

March 3, 2017

Riyadh, 29-03-2017: Gulf Investment Corporation which is based in Kuwait announced that it has successfully completed acquisition of a significant minority stake in “Sudair Pharmaceuticals Company” - the owner and the developer of Sudair Specialized Pharmaceuticals Complex. The plan of the company is to set-up a specialized pharmaceuticals complex in a phased manner focusing on high-end generic drugs for cancer treatment in Phase 1 of the complex. The plant is the first of its kind in the Middle East [...]

Moody’s maintains GIC’s A2 Ratings and Stable Outlook

October 26, 2016

Kuwait, 26-10-2016: The Gulf Investment Corporation (GIC) announced today that Moody’s Investor Service, in their recently published Credit Analysis report, have maintained its Long Term rating at A2 and Short Term rating at P-1. The Stable outlook was maintained as well. Earlier this year, in June 2016, Fitch Ratings reaffirmed GIC’s Long Term rating, Short Term rating and Stable outlook. These affirmations, from leading international rating agencies, reflect GIC’s strong ownership structure and sound business model. It is also indicative [...]

Fitch Reaffirms GIC’s ‘A-’ ratings and ‘Stable’ outlook, despite the difficult circumstances the region is going through

June 13, 2016

Kuwait, 12-06-2016: The Gulf Investment Corporation (GIC) announced today that Fitch Credit Rating Agency affirmed its Long Term IDR ratings at A-, Short Term ratings at F1, and Stable outlook. The viability ratings were reaffirmed at BB. The action by Fitch is positive, especially in the current regional context where ratings have been under pressure for governments and financial institutions. Fitch have highlighted the capability of GIC’s shareholders as a key support factor. They have also emphasized the strength of [...]