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.
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