AFFILIATED & SISTER COMPANIES

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Building System Industries Co.

Kuwait – NIC Ownership 100%

  • It was established on 15/6/2004 to be the executive arm of the company for construction projects. The financial results for the company for the year 2019 showed a profit of KD 146,342 against a loss of (434,474) for the year 2018, knowing that the total shareholders’ equity in the company reached KD 635,456 with a capital of KD 500,000.

 

Saudi Insulation Bricks Co.

A.A.C. Factory – Al-Riyadh, Jeddah, KSA (NIC Ownership 50% – Capital: SAR 100 million)

  • The company sustained a loss of activity amounting to Saudi Riyals 5.39 million for the year 2019 compared to losses of Saudi Riyals 1.23 million for the year 2018
  • The company’s sales for the year 2019 amounted to SAR 2.20 million compared to SAR 12.9 million.
  • Shareholders’ equity decreased to SAR 82.79 million in 2019 compared to SAR 88.20 million for the previous year

 

N.I. Ceramics

Kuwait – NIC Ownership 86.4% – Capital KD 15 million

  • The company suffered losses of 1.04 million dinars for the year 2019, compared to losses of 925 thousand dinars for the year 2018.
  • The company’s products have been approved by all state ministries.
  • The company’s products are included in the construction materials supported for the owners of housing requests.
  • Add new new porcelain production to the need for new projects.

 

Al-Raya Global Real Estate Co.

Kuwait – NIC Ownership 25.32% – Capital: KD 1.8 million

  • The company suffered losses amounting to KD 464 thousand for the fiscal year ending in 2019, according to the financial data provided by the management of the company in exchange for profits of KD 39 thousand for the year 2018.
  • The company reduced its capital during 2019 from 1.6 million Kuwaiti dinars to KD 0.250 million through distribution KD 1.35 million to shareholders in cash.

 

Omani German Company for Building Materials & Industrial Construction Co.

A.A.C. Factory – Sohar, Sultanate Of Oman – (NIC Ownership 33.66% – Capital: OMR 3.55 million)

  • The company suffered losses in the year 2019, amounting to OMR 598 thousand, compared to losses for the year 2018 amounting to OMR 577 thousand, while the accumulated losses of the company to the end of 2019 amounted to OMR 4.48 million.

 

United Gulf Pipe Manufacturing Co.

Oman – NIC Ownership 45% – Capital: OMR 4.5 million

  • All production lines were operated.
  • The company is working to market its products in all Gulf countries.
  • The company suffered a loss of OMR 1.428 million for the year 2019 compared to a loss of OMR 865 thousand for the year 2018.
  • The company currently has contracts covering the production capacity of the company for the year 2020, which heralds a promising year, God willing.

 

Insulated Building Systems Factory

A.A.C Blocks Factory – Kingdom of Bahrain – NIC Ownership 50% – Capital BHD 4 million

  • The company suffered a loss of 171,000 BD for the year 2019 against a profit of 42,000 BD for the year 2018.

 

Saudi Sand Lime Bricks & Building Materials Co.

Al-Riyadh, KSA – NIC Ownership 10%

  • The company achieved a net profit of SAR13.3 million for the year 2019.
  • The company has completed production expansion programs and all furnaces are being operated with high efficiency.
  • The company is looking forward to listing in the stock market within the next three years.
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