Thursday, September 16, 2010

International Investment Group - Denies "Success" in Repaying Debts



This morning IIG announced on the KSE and BSE that the news in this morning's Al Watan about it successfully paying some US$18 million in debt was in error.

It seems success is not only fleeting, but sometimes it doesn't occur at all.

4 comments:

laocowboy2 said...

Was on vacation so did not see before - but would not have believed it anyway. That money is long gone.

Abu 'Arqala said...

LC2

Welcome back!

No doubt the money was put to good use.

laocowboy2 said...

If punting in cross-shreholdings in companies with no true economic purpose is "good" then perhaps - but only perhaps.

Abu 'Arqala said...

LC2

I'll bet a lot of the money turned up in the pockets of the deserving rich.

Though having known a few Kuwaiti punters in my day, a lot of it may have just been whistled away. They really do often believe in imaginary values.