Kuwait Corporate Fact Sheet

Bayan Investment Co. Fact Sheet
Investment Sector
Reuters Code: BAYK.KW Current Price (KD) : 0.355
Key Facts
KD ' 000 2003 2004 2005 2006 2007
Cash & Cash Equivalent 1,372 1,397 5,952 1,862 7,970
Held For Trading Investments 23,833 56,536 83,205 59,518 58,976
Available for Sale Investments 40,601 33,910 47,379 52,398 45,815
Investments in Unconsolidate Sub. & Associated Co. 0 1,700 2,780 3,214 1,059
Investments in Real Estate 0 0 30,419 19,729 61,727
Other Assets 2,084 863 104 2,296 1,548
Total Assets 67,890 94,406 169,839 139,018 177,095
Short-Term Bank Loans & Facilities 17,011 15,828 43,902 34,225 70,422
Bonds 0 0 20,000 20,000 20,000
Other Liabilities 2,011 3,965 7,745 1,674 3,920
Total Liabilities 19,022 19,792 71,646 55,899 94,343
Minority Interest 0 0 0 0 50
Equity 48,868 74,614 98,193 83,119 82,702
Management & Consulting Fees 155 343 3,412 4,259 738
Realized Investment Income 11,617 8,759 15,115 3,549 13,599
Unrealized Investment Income 14,233 23,037 21,318 (18,136) 505
Other Operating Income / (Loss) 16 36 (19) 7,614 (16)
Total Operating Income 26,021 32,175 39,827 (2,713) 14,826
Interest Expense 446 1,215 2,909 4,195 4,893
General & Administrative Expenses 1,153 1,988 2,414 2,107 2,069
Operating Profit 24,422 28,971 34,503 (9,015) 7,864
Other Income / (Loss) 0 0 (2,369) 1,714 571
Other Expenses 509 1,160 1,056 0 907
Net Profit 23,913 27,811 31,078 (7,301) 7,527
Key Ratios
KAMCO Research
June 22, 2008
2003 2004 2005 2006 2007
Return On Assets 35.2% 29.5% 18.3% NM 4.3%
Return On Equity 48.9% 37.3% 31.6% NM 9.1%
Management & Consulting Fees / Total Op. Income 0.6% 1.1% 8.6% NM 5.0%
Realized Inv. Income / Total Operating Income 44.6% 27.2% 38.0% NM 91.7%
Investments / Total Assets 94.9% 97.6% 96.4% 97.0% 94.6%
Total Debt / Total Assets 25.1% 16.8% 37.6% 39.0% 51.1%
Historical Share Data* YTD
2004 2005 2006 2007 22-Jun-08
Market Capitalization (KD thousand) 129,806 212,520 101,736 96,381 139,396
Closing Share Price (KD) 0.430 0.640 0.285 0.270 0.355
Highest Price for the Period (KD) 0.480 1.480 0.650 0.400 0.435
Lowest Price for the Period (KD) 0.230 0.410 0.238 0.248 0.216
Volume (Shares thousand) 728,350 1,293,568 576,785 533,740 417,620
Value (KD thousand) 276,283 1,152,350 219,426 177,583 142,798
No. of Trades 22,246 79,432 29,447 23,033 12,863
EPS (KD) 0.087 0.090 (0.021) 0.022 0.022
Book Value Per Share (KD) 0.257 0.306 0.243 0.242 0.242
Dividend Per Share (KD) 0.040 0.025 0.010 0.010 NA
Price to Earnings Multiple (X) #
4.08 3.93 NM 16.12 16.12
Price to Book Value Multiple (X) #
1.38 1.16 1.46 1.47 1.47
Dividend Yield (%) #
11.27 7.04 2.82 2.82 2.82
KD
0.435
0.410
0.385
0.360
0.335
0.310
0.285
0.260
0.235
0.210
52-Week Price Chart Rel. to KAMCO TRW Index
BAYANINV KAMCO TRW Index
24.6.07
8.7.07
22.7.07
5.8.07
19.8.07
2.9.07
16.9.07
30.9.07
14.10.07
28.10.07
11.11.07
25.11.07
9.12.07
23.12.07
6.1.08
20.1.08
3.2.08
17.2.08
2.3.08
16.3.08
30.3.08
13.4.08
27.4.08
11.5.08
25.5.08
8.6.08
22.6.08
Index
4,800
4,700
4,600
4,500
4,400
4,300
4,200
4,100
4,000
NA: Not Applicable, NM: Not Meaningful
N/A: Not Available, YTD: Beginning of year to date
#
:Historical P/E, P/B & Yield are based on
current price & historical earning per share,
book value per share & dividend per share
Investment Research Department
KIPCO Asset Management Co.K.S.C.C
KAMCO
P.O.Box: 28873 Safat 13149 Kuwait
Email : kamco_research@kamconline.com