Mumtalakat, BDB agree to boost Asmak capital

Asmak BSC announced that its main shareholders, Bahrain Mumtalakat Holding Company and Bahrain Development Bank (BDB) have agreed to increase the capital of the company from BD1.38 million to
BD2.76m.

Welcoming the move, the company’s Head of Board of Directors and Managing Director, Sager Shaheen said that the authorities have also finally approved the company’s request to manufacture its own incubator.

A first of its kind, Asmak BSC was launched in 2010 with an aim to provide the Kingdom with food security, but had to overcome several challenges, including the deaths of large part of its fingerlings in additional to having its exports banned.

“The future plans will definitely focus on
the culture of local species, including Sobaity, Hamour as well as Grouper.
We believe this will allow the company to maintain its position and enable it to achieve the food security goals for the Kingdom of Bahrain,” Shaheen added.