Gulf Investment Corporation reports net profit of USD 110 million for 2015

April 3, 2016

Kuwait, 03-04-2016: Gulf Investment Corporation (GIC) announced the results of its operations for the fiscal year ended 31 December 2015, reporting net profits of USD 110 million. The announcement comes in the wake of the approval of the financial statements at the ordinary general assembly of GIC, which was held on the 3rd of April, 2016, at GIC’s headquarter in the State of Kuwait. Those profits have been achieved from the Corporation’s main activities in the financial markets and direct [...]

Teekay LNG‐Samsung‐GIC Sign LNG Import Terminal Project in Bahrain (The first in the Middle East on a PPP basis)

December 24, 2015

Kuwait 02/12/2015: A consortium composed of Teekay LNG Partners L.P. (Teekay LNG, NYSE: TGP), Samsung C&T (Samsung) and Gulf Investment Corporation (GIC) executed today with the Government of the Kingdom of Bahrain the project agreements for the development of an LNG receiving and regasification terminal in Bahrain. The project, to be developed on a BOOT (build, own, operate, transfer) basis, will be located in Hidd Industrial area of Bahrain and will help the Kingdom meet the increasing demand for [...]

Teekay LNG‐Samsung‐GIC Sign LNG Import Terminal Project in Bahrain (The first in the Middle East on a PPP basis)

December 2, 2015

Kuwait 02/12/2015: A consortium composed of Teekay LNG Partners L.P. (Teekay LNG, NYSE: TGP), Samsung C&T (Samsung) and Gulf Investment Corporation (GIC) executed today with the Government of the Kingdom of Bahrain the project agreements for the development of an LNG receiving and regasification terminal in Bahrain. The project, to be developed on a BOOT (build, own, operate, transfer) basis, will be located in Hidd Industrial area of Bahrain and will help the Kingdom meet the increasing demand for [...]

GIC Strategic Partner in the new Gulf Japan Food Fund

October 26, 2015

Muscat 25-10-2015: The Gulf Investment Corporation (GIC) has recently participated in the signing ceremony held in the Sultanate of Oman on Sunday to mark the establishment of the Gulf Japan Food Fund. The signing ceremony of the Fund, was attended by a group of major sponsors and investors, besides the GIC, including Mizuho Bank, Ltd. of Japan, a global financial institution with longstanding expertise in the area of investment management and extensive connections in the world-class Japanese food and [...]

FITCH Affirms Gulf Investment Corporation at ‘A-‘; Outlook Stable

July 1, 2015

Fitch Ratings-London-15 June 2015: Fitch Ratings has affirmed Gulf Investment Corporation's (GIC) Long-term Issuer Default Rating (IDR) at 'A-' with a Stable Outlook. A full list of rating actions is available at the end of this rating action commentary. KEY RATING DRIVERS IDRS and SUPPORT RATING The IDRs and '1' Support Rating reflect an extremely high willingness and ability of GIC's sovereign shareholders to provide support if required. GIC's shareholders are the six countries of the Gulf Corporation Council (GCC), which hold equal [...]

Gulf Investment Corporation’s profits grew 23%, reaching USD 201 million

April 5, 2015

Kuwait City, 6 April 2015: Gulf Investment Corporation (GIC) announced its financial results for the year ended 31 December 2014, posting net profits of USD 201 million. GIC’s net income is 23% higher than the prior comparative year. This announcement follows the approval of GIC’s financial results by its 31st Ordinary General Meeting held on 5th April, 2015, at GIC’s headquarters in the State of Kuwait. The improved profitability levels, driven by the good performance of GIC’s key business lines: [...]

Gulf Investment Corporation enters into a contract for the sale of 13% stake in Cristal for a total value of 482 million USD

December 12, 2014

Kuwait City, December 2014: Ibrahim AlQadhi: the transaction comes as a result of a successful partnership that lasted more than two decades. Gulf Investment Corporation (GIC) today announced the signing of an agreement to sell part of its 33% shareholding in Cristal to National Industrialization Company (Tasnee). The agreement dully signed by both parties stipulates that the sale of the 13% shareholding in Cristal will be at a transaction value of about USD 482 million. Subsequently, after completing the [...]

Fitch Upgrades GIC’s ratings by 2 notches to A-

June 29, 2014

Ibrahim Al Qadhi: “GIC is now firmly in the ‘A’ category with regards to ratings” June 29th 2014: The Gulf Investment Corporation (GIC) announced today that Fitch Credit Rating Agency upgraded its Long Term IDR ratings by 2 notches to A-, from the previous BBB rating. Fitch also upgraded GIC’s Short Term ratings by 2 notches to F1. The viability ratings were reaffirmed at bb. All ratings carry a Stable outlook. The positive action by Fitch was, to a large extent, [...]

Moody’s Upgrades GIC’s ratings by multiple notches to A2

May 11, 2014

Ibrahim AlQadhi: “This achievement reflects sound strategy & strong financial condition.” May 11th, 2014: The Gulf Investment Corporation (GIC) announced today that Moody’s Credit Rating Agency upgraded its Long Term ratings by 3 notches to A2, from the previous Baa2 rating. Moody’s also upgraded GIC’s Short Term ratings to P1, the highest in that category. All ratings carry a Stable outlook. The positive action by Moody’s is based on the re-categorization of GIC as a Multilateral Development Bank (MDB) and the [...]