Arkan investors seek foreign participation


 Shareholders of Arkan Building Materials have called for allowing foreigners to buy shares of the company.

At a general assembly of the company’s shareholders held on Wednesday, the shareholders unanimously urged the board to approve foreign equity participation in Arkan, saying that such a move would enhance the company’s performance and raise its profits.

Chairman Salem bin Mohammed Al Dhaheri said the company’s board will study the request and respond “in a short time”.

The general assembly also approved 10 per cent cash dividend for 2007. Arkan’s profit for the year rose to Dh203m, compared to Dh175m in 2006.

Revenues went up to Dh346m compared to Dh320m in 2006.