Rak Properties

In: Business and Management

Submitted By praannj
Words 1299
Pages 6
Digging the Cash out of the Profit-A case of RAK PROPERTIES

Though my bottom line is black, I am flat on my back,
My cash flows out and customers pay slowly.
The growth of my receivables is almost unbelievable
The result is unremitting woe!
And I hear the banker utter an ominous low mutter
“Watch the cash flow”-Herbert S Bailey

“Unbelievable, shocking, it is not possible!” These are the words of Mohd. Huda a prospective shareholder of RAK properties, while reviewing the annual reports of the company. Although Mohd Huda is an engineer in Dubai based trading company but his interest in stock market and his urge to multiply his hard earned money has made him go through the annual reports of the companies, he wants to invest his money into.
“How it can happen?” Still grumbling..while looking at the result of the cash flow statements after reviewing the Income statement of the company.
“A difference of AED 341,077,000, the income statement profit is AED 170,085,000 On the contrary the cash from operating Activities (AED170,992,000) has the equal number in negative”.

RAK Properties RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company established to implement the emirate’s plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects.
It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular.
The company launched its first project, Julfar Towers – a 45-storied twin office and residential project at a cost of AED 500 million – in February 2006 followed by Mina Al Arab – spread over 43 million sq. feet at a cost of AED 10 Billion – in May 2006. It also launched RAK Tower in Abu Dhabi at Cityscape Dubai 2007. RAK Properties is a Public Joint Stock Company formed in 2005 with…...

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