About
Jeeran Holding Company K.S.C.C or “JHC” is a Kuwaiti company incorporated on June 3, 2001. JHC’s financial statements are in compliance with the requirements of Islamic Shari’ah. JHC’s main objectives are:
- Ownership of shares of Kuwaiti and foreign shareholding companies or companies with limited liability, or establishing, monitoring and sponsoring such companies.
- Financing and sponsoring entities in which the Company has an ownership interest of not less than 20% of the borrowing entity.
- Owning and leasing industrial rights such as patents, industrial trademarks, sponsoring foreign companies for the benefit of companies inside or outside the State of Kuwait.
- Ownership of movable assets or real estate required to pursue the Company’s activities within the limits acceptable by law.
- Utilizing available surplus funds by investing in portfolios managed by specialized parties.
As of March 1, 2004. Jeeran Holding Company acquired 99% of United Gulf Construction Co. W.L.L. The total UGCC acquisition cost was approximately KD 13 million. The acquisition is based on the value of the partner’s equity as of 28th February 2004 which stood at KD 13,592,043.
The performance of UGCC will certainly remain crucial to JHC’s overall investment returns for the foreseeable future.
With regard to UGCC’s importance as an established corporation in its own right as well as its overwhelming contribution to JHC’s returns, much of the analysis in the placement document and executive summary will highlight UGCC’ structure and operations.