Dubai PR Network, Online Press Release from Dubai and Middle East
 
Infrastracture, Construction & Manufacturing(Real Estate & Retail)
Filter PR by
  
Tabarak Investment Injects AED 500 Million in Drake & Scull International as part of the Capital Increase
 

UAE, October 4, 2017 - Drake & Scull International PJSC (DSI), a regional market leader in engineering and construction services, announced today that it has successfully completed its capital restructuring program which started at the beginning of the fiscal year as part of its efforts to improve the financial position of the company and enhance operational efficiency.

The completion of the program and the entry of Tabarak Investment as a Strategic Investor will enable the company’s new leadership to move forward with its operational plans and focus on further enhancing its core competencies in the mechanical, electrical and plumbing (MEP) sector to steer the company to recovery and sustainable growth.

Engineer Abdulla Atatreh, Chairman of Drake & Scull International PJSC, said: “Completing DSI’s recapitalization program is a significant milestone for the company and reaffirms the dedication and the commitment of the new of board of directors in taking the necessary decisions that safeguard the interest of our shareholders and sets a solid foundation for the group to press ahead with key strategic initiatives to regain business momentum.”

“We are confident that this achievement will pave the way for the company’s newly-appointed leadership to map a clearer direction and position DSI to proactively seize regional opportunities in the MEP sector,” he added.

 “The completion of the program is a fundamental phase in rebalancing our capital structure and improving our liquidity and the new capital injection will be used to improve operations and accelerate projects execution, in addition to securing new project awards and pursuing opportunities to diversify our income and reinforce shareholders confidence.”

“The Securities and Commodities Authority and the Dubai Financial Market played a key role in supporting the execution of the capital restructuring program while exhibiting the highest standards of professionalism. Furthermore, Tabarak Investment will continue to support the company financially and strategically. Lastly, with the successful completion of the capital restructuring program, the share capital of the company stands at AED 1.07 billion and the total equity of the group increased by AED 500 million.” Atatreh concluded.


Posted by : Dubai PR Network Editorial Team
Viewed 4526 times
PR Category : Real Estate & Retail
Posted on : Wednesday, October 4, 2017  3:42:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Light it up smartly: Sylvania Hallmarking its authority in t...
Next Story : EcoSys™ 8 Release Offers Industry First for Full Life Cycle ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Safilo Group Reveals Its Spring/ Summer 2018 Collection [8253-Views]
Redefining the Skin Clinic Experience. #allnewkaya opens in Muscat City Centre! [7088-Views]
Optim-Eyes Lashes & Brows with Filorga [6759-Views]
Catch Some Zzz's in the IKEA Nap Truck [6728-Views]
South African artisans of fine leather products look to make big impression at Leatherworl... [5874-Views]
Raymond Weil's Freelancer Ladies [5673-Views]
Dual Investments Brand LE66 to Relocate from City Walk to New Dubai Location in 2018 [5496-Views]
Tag Heuer Carrera Heuer 02 [5258-Views]
Global Expansion in sight for ICONS© Coffee Couture [5191-Views]
Do You Feel Sleep Deprived? Nearly Half of UAE Would Give Up Social Media for an Extra Hou... [4972-Views]
Galderma's “Leave Your Mark” Mobile Clinic heightens awareness of skin diseases amongst yo... [4691-Views]
15,000 participate in the Dubai Cares' annual Walk for Education 2018 in support of childr... [4441-Views]
Indian FMCG Conglomerate Hamdard Laboratories brings “The Drink of India” - RoohAfza to UA... [4380-Views]
Pink Caravan Ride Launches Mobile Mammography Clinic to Offer Specialised On-the-spot Scre... [4069-Views]
Preparing the perfect table setting with Bits & Pieces [4032-Views]
Capillary's digital growth initiative ‘Accelerate' partners with Google [3898-Views]
Middle East Fuji LLC exhibits the Gold medalist of Japanese branded “Kobe Beef” at Gulf Fo... [3892-Views]
Dubai Festival City marks successful first ever Nike+ Run Club edition [3861-Views]
Bean Body's Quick Guide To Men's Exfoliation [3849-Views]
Saeed & Mohammed Al Naboodah Group Celebrates 60 Years of Excellence [3806-Views]
Tommy Hilfiger celebrates the essence of ‘Classic American Cool' [3575-Views]
Give Your Mother the Gift of Time With D1 Milano [3501-Views]
Get Your Weekend Entertainment Fix at Boxpark [3465-Views]
His Excellency Dr Thani Al Zeyoudi Chairs First Meeting of UAE Council for Climate Change ... [3459-Views]
Classically elegant and stylish, the titanium mechanical NJ0090-13P makes a definite state... [3440-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories