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20-Apr-2016

Mouwasat to commence operations in Jubail hospital expansion within four weeks, committed to 40-50% DPO

Mouwasat Medical Services Company (4002.SE) is planning on commencing commercial operations for the Jubail Hospital expansion project within four weeks (2Q2016), as the company awaits the approval of the Ministry of Health, according to the company’s Managing Director, Mohammed Alsaleem, speaking to CNBC Arabiya. Alsaleem ensured that the company is committed to maintain the dividend payout of 40-50%, that has been running since 2009, while retaining the remaining amount for expansion and renovation projects. Also, he dismissed any intentions of a capital increase or sukuk issuance, as the company has enough bank resources to finance expansion projects. (Argaam, CNBC Arabia)   Mouwasat Medical Services: SAR127.73 as of 19 April 2016, Rating: Buy, FV: SAR135.00 per share, MCap: USD1,703 million, MOUWASAT AB / 4002.SE

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