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Kuwait & Gulf Link Transport Company (KGL) is a major contributor in Kuwait’s Vision 2035 projects
General Assembly approved a 5% cash distribution

Kuwait & Gulf Link Transport Company (KGL) held its Ordinary and Extraordinary General Assembly Meetings (AGM), and approved the distribution of cash dividends of 5% of the nominal value of the share. The shareholders of the company also agreed not to distribute bonus shares for the fiscal year that ended on December 31, and cleared the responsibility of the board members for 2017.

The company's profit in 2017 amounted to KD10 million compared to KD2.2 million dinars for 2016 with an increase of KD7.8 million equivalent to 354%, while the operating revenue in 2017 amounted to KD64.8 million compared to KD44 million for 2016 with an increase of KD20.8 million equivalent to 47.27%. The total operating expenses in 2017 were KD52.1 million compared to KD35 million for 2016 with an increase of KD17.1 million equivalent to 48.85%.

"The company is looking to expand its operations locally and regionally in 2018, where the Kuwaiti construction sector is witnessing projects worth $38 billion in this period, and the logistics sector constitutes an essential part of these projects, along with contracts with the US Army acquired by subsidiaries of KGL and previously announced," said Maher Marafi, Chairman of KGL.

He added that the company supports the development of national projects, which will help with the economic development and prosperity in the local market and looks forward to contributing to «Kuwait Vision 2035», which will develop large projects for the country, notably the five islands and silk city.

Marafi said that the company is seeking to obtain as many storage, transport and logistics services contracts as possible, both locally and regionally, thanks to the company's potential to compete for local and regional contracts. He explained that the company has good chances to acquire new projects and logistics services contracts.

He also mentioned that it is no secret the extent of abuse and attack the group's shareholders suffered; accusing them of false accusations that are not valid through fake social media accounts, pointing out that some of KGL competitors went to non-ethical measures in the competition.

"Everyone is aware that the smear campaign is paid and it is easy to track, but we prefer to focus on our business and leave everything else behind us," he said.

KGL has established the principles of transparency and fair treatment for all stakeholders, protecting shareholders' equity, maximizing their returns and attracting more investments to the company.

"The company's board of directors spares no effort to develop the company's business in line with the customers’ aspirations and plans on a regional and international level or with the US military, the company’s strategic customer."

KGL is seeking to open up new opportunities for the development of warehousing, supply chain management, logistics and logistic support to ensure excellent logistics services as required by the markets.

General Assembly approved a 5% cash distribution

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