Tejoori has published its results for the year ended 30 June 2014 – some time ago now. The net assets attributable to shareholders rose from $25.97m to $26.89m. The money they have in Wakala deposits attracts a profit rate of 5% per annum. The larger part of the increase in the value of the company came from a revaluation in the value of the property they own in Dubai -“Arjan plots” which added $1.39m to the NAV.
They say “the Company did not make any further investments during the period under review and, at the present time, the Board of Tejoori is not seeking to invest in any “high-risk” or speculative transactions” and go on to say that “the Board of Tejoori are looking forward to identifying the best options and investment opportunities for the benefit of all shareholders in the Company”.
TJI : Property revaluation boosts Tejoori