Kuwait - The Investment Club of Kuwait Kerala Muslim Association held its annual general body meeting at KKMA Community Hall in Jleeb on 23 January 2009. 

The IC Club has accomplished most of its initial objectives set for the last two years period, said Sageer Trikarpur, Chairman of KKMA.  Addressing the members of KKMA Investment Club, Sageer also mentioned that KKMA IC will initiate a NRI Township Project for the low income group of non resident Indians.  A survey will be conducted soon to assess the need for such a project and to identify the location of such project.  He also declared the launch of a 9-story building in Kuwait. Similarly initial preparations are also going on to launch a residential villa project in Kannur as a JV with our existing partners.

Vice Chairman Akbar Siddique presented the Annual Report of the IC Club.  He stated that the IC Club has faced tremendous difficulties in executing our responsibilities during the period. Financial transactions in India, legal issues with regard to Company formation and the fluctuations in currency market are to name a few. Nevertheless, we were able to make profit in all five projects we made in India.  Akbar also thanked IC Coordinators, office bearers in each branch committee of KKMA for completing tedious job of collecting monthly subscription from each members on a monthly basis for a full one-year period, and helped us to distribute dividends for each members in a timely manner during the holy month of Ramadan last year. May Gold bless and reward all of them adequately.

KKMA Chief Financial Office Mohammadali Matara presented the Audit Report. KKMA President N.A.Muneer welcomed the audience.  Muneer stated that it the first time for an NRI organization coming with up an idea of a joint investment project and successfully completing one year and also distributing the dividend within one year as promised.

KKMA Working President A.P. Abdul Salam and the Board Member Mohammad Basheer Melady felicitated.

Read Annual Report brief