Boursa Kuwait holds Investor Relations workshop focusing on country’s Capital Markets Opportunities

Kuwait, 28 December 2018: Further strengthening its efforts to promote the development of Kuwait’s capital markets, Boursa Kuwait organized its fourth Investor Relations workshop, in collaboration with the Middle East Investor Relations Association (MEIRA) Kuwait Chapter. The workshop was held at the Boursa Kuwait premises on 26 November.

Conducted with the aim of offering a deeper understanding of the best investor relations practices and raising awareness on the latest developments at the national stock exchange, the workshop witnessed great interest from key executives of companies listed on Boursa Kuwait and capital markets professionals.

Titled ‘Kuwait Financial Market Outlook,’ the workshop opened with a welcome address by Mr. Ahmad AlKiswani, Executive Director, Risk Management, Compliance and Corporate Governance, Boursa Kuwait. Delivering the opening remarks at the event, Mr. AlKiswani, highlighted key achievements of the company since its inception in 2014, including the launch of a new set of indices and the segmentation of the market as the premier market, the main market, and the auction market. He also stated that the recent inclusion in the FTSE Russell Emerging Markets Index will help improve the visibility and enhance investor confidence to attract ‎new capital to the Kuwaiti financial market.‎

Mr. AlKiswani also referred to Boursa Kuwait ‎initiatives in developing the role of investor ‎relations among Listed Companies and ‎Licensed Persons to cooperate with the ‎Middle East Investor Relations Association ‎‎“MEIRA”.‎

The guest speaker of the workshop, Mohammed Al Abdulqader, Assistant Vice President, MENA Equities Kuwait Financial Centre “Markaz”, delivered a presentation that highlighted new investment opportunities and strong growth prospects in Kuwait’s capital markets. He also shared his insights on the Kuwaiti economy from a macro perspective, including market performance, profitability indicators and the impacts of upgrading Boursa Kuwait to the FTSE and MSCI indices, among other topics. He stated: “Kuwait’s stock market enjoys a positive outlook supported by favorable underlying fundamentals driven by strong fiscal position with lower breakeven oil price vs. GCC putting the Kuwaiti government in comfortable financial position to support Kuwait’s 2035 and project spending. Corporate profits are improving coupled with reasonable valuation further support overall positive outlook.”

Moreover, he noted, “Boursa Kuwait’s potential inclusion into MSCI emerging market index, decision expected during June 2019, could attract up to USD 1.8bn of passive inflow and second tranche of FTSE inclusion in December 2018 should act as a short-term catalyst for the market.”

Al Abdulqader concluded, “While we think the market would continue its positive momentum into next year, we believe risk factors should not be ignored especially the higher volatility that could be driven by geopolitical factors, International trade tariffs and lower oil prices.”

The session was attended by Clemence Piot, General Manager of MEIRA, who said: “Since MEIRA signed the MOU with Boursa Kuwait in March 2017, we have seen a greater interest from the Kuwaiti listed companies in the Investor Relations field. More companies are willing to join the Association in order to enhance their IR programmes. This initiative is in line with the regional market regulators and stock exchanges strategies which are actively promoting the implementation of the IR function with their listed companies.”

Zain Group Chief Communications Officer and MEIRA Kuwait Chapter Head, Mohammad Abdal said: “The MEIRA Kuwait Chapter’s collaboration with Boursa Kuwait in delivering insightful seminars and workshops are effective in enhancing and supporting the local IR community in their day-to-day job. I believe we have reached a stage where listed companies and the wider investor community better understand the value of IR, and the Kuwait Chapter’s instrumental role in bringing the latest IR trends and best practices to its members”.

This fourth workshop comes as one of a series of workshops held by Boursa Kuwait in collaboration with MEIRA, with the aim to raise awareness of the importance of effective investor relations and the value it adds to listed companies.