· Masaken to open UAE branch to explore new investment and strategic partnership opportunities
· Board of Directors decides to study available investment opportunities before increasing firm’s capital
13 May 2017
Abu Dhabi, UAE – The Board of Directors of Masaken for Land and Industrial Development Projects (Masaken Capital), a company listed in Amman stock exchange, held its third meeting in 2017 on Thursday, 11 May, 2017 in the UAE capital Abu Dhabi.
Chaired by Hasan Abdullah Ismaik, Masaken Chairman and attended by Masaken Vice Chairman and board members, the meeting reviewed the latest developments with regards to the proposal to increase the company’s capital and its implications on Masaken’s future business development and investment plans across various sectors. The Board confirmed that any decision on the capital increase will be taken only after studying all available investment opportunities to ensure optimal returns to shareholders.”
The Board also decided to open a branch of Masaken Capital in the UAE, which will serve as a gateway to explore new business opportunities and establish strategic partnerships that benefit the company and its shareholders. Masaken’s strategic plan is aimed at consolidating its presence in diversified sectors such as education, health, investment and real estate development, and leverage the favourable investment environment in the UAE.
The meeting also discussed Masaken’s operational plan and organizational structure. The board of directors decided to restructure the company and its assets by selling some of its assets and allocating a part of its revenues for investment in sectors that deliver higher and sustainable returns for shareholders.
Hasan Abdullah Ismaik, Masaken Chairman, said: “One of the key priorities for Masaken Capital’s Board of Directors is to improve the returns of investment for its shareholders. Through the continued evaluation of the company’s assets, organizational structure and operational structure, we seek to offer the best investment opportunities for our shareholders and make prudential decisions that achieve the best results. “
Ismaik added: “We are committed to responsibly work to achieve growth and diversification for Masaken Capital and its shareholders. Masaken Capital will continue to explore local and regional investment opportunities that benefit our shareholders. Our decisions and proposals with regards to capital increase and expansion are well-aligned with our strategy to enhance Masaken’s competitive edges both locally and regionally.”
“Masaken will continue to achieve the highest level of operational and management competence through improving its financial performance and exceeding the shareholder expectations. This will allow us to achieve high returns, and fulfil the company’s shared objectives in line with our strategic direction.”
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