VOL. XLIII
No. 39
25-September-2000
KUWAIT
PIC Posts $101Mn Loss In Fiscal 1998-99
The Kuwait Petrochemical Industries Company (PIC) the wholly-owned subsidiary of the Kuwait Petroleum Corporation (KPC) posted a loss in fiscal 1998-99 of KD31.3mn ($101.3mn at an exchange rate of $1.00 = KD0.3087), compared to a profit of KD21.4mn ($69.3mn) in the previous year, according to a recently published report prepared by the states Audit Bureau. PIC, with a paid up capital of KD315mn ($1,020mn), has...
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