{"id":23687,"date":"2016-08-23T15:41:57","date_gmt":"2016-08-23T08:41:57","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=23687"},"modified":"2016-08-23T13:48:21","modified_gmt":"2016-08-23T06:48:21","slug":"drake-scull-international-shares-fall-sharply-in-dubai-as-it-reviews-business-activities","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/drake-scull-international-shares-fall-sharply-in-dubai-as-it-reviews-business-activities\/","title":{"rendered":"Drake & Scull International shares fall sharply in Dubai as it reviews business activities"},"content":{"rendered":"


\nShares in Drake & Scull International (DSI) opened sharply lower on Tuesday morning, after the construction firm said it was reviewing business activities and seeking strategic investors after slipping into the red during the second quarter.DSI shares opened more than 2 per cent lower, after Reuters reported that the company has appointed lawyers to hold discussions with the Securities and Commodities Authority, the UAE stock market regulator, on the possibility of bringing in strategic investors.The construction firm has been hard hit by the economic slowdown across the Arabian Gulf in the wake of lower oil prices, particularly in its core market of Saudi Arabia.DSI earlier announced a second quarter loss of Dh207.6 million, compared to a profit of Dh10.3m for the same period last year.Chief financial officer Kailash Sadangi told Reuters that the company had made a decision to withdraw gradually from its civil engineering business in Saudi Arabia, and had discussed with advisers the possibility of a further business review in recent weeks.DSI’s shares have fallen about 13 per cent during the past two weeks.jeverington@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Drake & Scull International shares fall sharply in Dubai as it reviews business activities<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares in Drake & Scull International (DSI) opened sharply lower on Tuesday morning, after the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-23687","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6a3","jetpack-related-posts":[{"id":23821,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-drake-scull-says-it-has-not-hired-adviser-to-seek-investment\/","url_meta":{"origin":23687,"position":0},"title":"Dubai's Drake & Scull says it has not hired adviser to seek investment","date":"August 24, 2016","format":false,"excerpt":"\r Dubai-listed builder Drake & Scull International has not hired a legal adviser to help to bring a strategic investor into the company, it said on Wednesday.\"The company denies the appointment of any legal adviser in connection with bringing in a strategic investor or issuance of mandatory convertible bonds,\" the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":144765,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bhm-capital-appointed-as-liquidity-provider-for-drake-scull-shares-on-dubai-bourse\/","url_meta":{"origin":23687,"position":1},"title":"BHM Capital appointed as liquidity provider for Drake & Scull shares on Dubai bourse","date":"May 30, 2024","format":false,"excerpt":"\r The UAE stock market firm will provide liquidity for the global company\u2019s shares on DFM by entering two-way daily quotes into the market trading system\r \r Source : arabianbusiness.com\r Read more...BHM Capital appointed as liquidity provider for Drake & Scull shares on Dubai bourse","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/05\/drake-and-scull-2-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":34240,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-drake-scull-posts-narrower-q3-net-loss-amid-cost-cutting\/","url_meta":{"origin":23687,"position":2},"title":"Dubai's Drake & Scull posts narrower Q3 net loss amid cost-cutting","date":"November 14, 2016","format":false,"excerpt":"\r The Dubai construction firm Drake & Scull reported a narrower third-quarter net loss on Monday, partly because of cost-cutting.The firm made a Dh46.3 million loss in the three months to September 30 compared with a Dh877.8m loss in the year-ago period, according to a bourse statement.Drake & Scull also\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57520,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-drake-scull-chairman-sells-stake-at-dubai-contractor\/","url_meta":{"origin":23687,"position":3},"title":"Former Drake & Scull chairman sells stake at Dubai contractor","date":"June 12, 2017","format":false,"excerpt":"\r The former Drake & Scull chairman Khaldoun Tabari has sold his stake in the contractor Drake & Scull to the company pledging to put Dh500 million of new money into the business.Mr Tabari is understood to have completed a transaction to sell his remaining stake in the Dubai-based contractor\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51723,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tabarak-to-become-majority-owner-of-drake-scull\/","url_meta":{"origin":23687,"position":4},"title":"Tabarak to become majority owner of Drake & Scull","date":"April 13, 2017","format":false,"excerpt":"\r Dubai-based contractor Drake & Scull International (DSI) has revealed the terms of its recapitalisation and set a date for shareholders to decide on whether to approve the deal that will help it wipe out accumulated losses of about Dh1 billion and make Tabarak Investment its biggest shareholder.The company is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37454,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/drake-scull-appoints-pwc-to-advise-on-its-financial-state\/","url_meta":{"origin":23687,"position":5},"title":"Drake & Scull appoints PwC to advise on its financial state","date":"December 8, 2016","format":false,"excerpt":"\r Drake & Scull International's board of directors has agreed to the appointment of external consultants to advise on the state of its finances, which are weighed down by uncollected receivables.In a statement to the Dubai Financial Market on Thursday morning, the company said that its board had \"approved appointing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23687"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=23687"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23687\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=23687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=23687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=23687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}