Masiya expects KD 2mil returns for 2011

August 2011 - Kuwait
______________________________________________________________________


Ahmed Al-Ozairi, CEO of Masiya Net, has revealed Life Energy’s - a subsidiary of Masiya- successful signing of a memorandum of understanding with a real estate development and construction company in Kuwait to provide services in the field of alternative energy, noting that this project is worth $ 2 million and that the company will announce that in the upcoming weeks. Furthermore, Al-Ozairi shared that the company completed projects, a quarter of a million dinars in worth, in the field of alternative energy to various government agencies including the Kuwait Institute for Scientific Research.

Al Ozairi also added, during Masiya’s Ramadan Ghabqh and 10th anniversary celebration, that the company will shortly announce its entry into a $ 4 million e-signature project in the Kingdom of Saudi Arabia in the near future. The celebration included an honouring ceremony to some of Masiya’s employees that have been on board with the group since inception.

Masiya was established in 2001 and has specialized in providing telecommunications solutions to local and regional telecom companies, where it worked with “Zain” in 13 countries, “Du” in the UAE as well as “Etisalat” UAE. Masiya has 6 subsidiaries that specialize in Telecommunications, Information Technology, Alternative Energy, creative design, and mobile application development, and its working capital is one million Kuwaiti dinars.

As for Masiya’s investments in the Gulf and Arab states, Al Ozairi stated that the company has a presence across the Kingdom of Saudi Arabia, Bahrain, UAE, Iraq and Bahrain through its effectively managed subsidiaries, indicating their superb performance through Masiya’s excellent management mechanism that evolves day after day, pointing out that there are many projects in the field of alternative energy and computer development that Masiya is currently involved in. Masiya has cultivated partnerships with major international enterprises such as Ericsson, Nokia Siemens and Oracle, as Masiya has supplied systems to 60% of the Arab countries and Africa.

It should be noted that Masiya’s expansion in Africa was accomplished through its cooperation with the Mobile Telecommunications Company "Zain" when it was present in Africa and that the size of the projects that the company has implemented in Africa totaled $ 15 million across seven countries -Nigeria, Malawi, Tanzania, Kenya and Burkina Faso, Sierra Leone, Gabon. Masiya still continues its presence through its relationship with “ Bharti” Enterprises.

As for Masiya’s financial results , Al Ozairi expects returns of KD 2 million for 2011 compared to KD 1.4 million for the year 2010, with a net profit of more than 550 thousand dinars in 2011 compared to a profit of 417 thousand dinars for 2010 .

And about his vision for the telecommunications market, Al Ozairi stated the local market in Kuwait is full of investment opportunities, provided that the government removes red tape in its departments, pointing out that Kuwait has always been at the forefront of the Gulf States, but declined due to bureaucracy and fear of investing .

For further information please contact:
Maya Khankan
Masiya
Tel. (965) 22250222 ext. 1213
E-mail: m.khankan@masiya.net