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
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