And You Thought You Had a Bad Day: Wait Till You Hear the MD at Shabka Holding Kuwait

Nayef AlEnizi who recently acquired a majority of Shabka's shares and is MD and Board Member described the company to AlQabas  using the phrase "la wujud laha nihaiyan".  "No existence to it in the final analysis".

If that wasn't enough:

1. The company has no office.
2. The new board can't locate records or financial statements.
3. The company doesn't have a finance director.
4. The new board isn't sure what the assets or liabilities are.  (See #2 above)
   
5. The Ministry of Commerce is delaying issuing certificates to the new board members,
   

And if that weren't enough, he expects that the company will lose the suit brought against it by International Leasing.

And I thought the chap at Safat Global had a sad story to tell.  This one tops Badr's by a kilometer or two.

As you recall, trading in Shabka shares is suspended for being late with its financials as well as not paying its KSE listing fees.