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The General Assembly of Siniora Food Industries Company approved the distribution of cash dividends amounting to JD 4.2 million representing 15% of its paid-in capital, and stock dividends amounting to 2,147,059 shares
AMMAN, Jordan, May 6, 2024 /PRNewswire/ — In its ordinary and extraordinary meetings held on April 28, 2024, the general assembly of Siniora Food Industries Company approved the distribution of cash dividends amounting to JD 4.2 million to its shareholders, representing 15% of the company’s paid-in capital of JD 28 million. It also approved the distribution of 2,147,059 as stock dividends by capitalizing JD 2,147,059 from the balance of its returned earnings at year-end 2023.
Chairman of the Board of Directors Mr. Tarek Aggad commented that Siniora realized stable results in 2023 despite all the challenges faced by the company, including the war on our people in Gaza, the rise in bank interest rates, especially in Turkey, where the company operates a branch, in addition to the negative impact on the company’s results due to the application of International Accounting Standard #29 there. Aggad clarified that despite all these difficult circumstances witnessed by the region, which also included an increase in raw material costs and shipping expenses due to global events, the company achieved a net profit of JD 4.428 million in 2023 compared to JD 5.224 million in 2022. He added that the results attained in 2023 were supported by an increase of 10% year on year in the company’s sales, which amounted to JD 46.960 million in 2023 compared to JD133.628 million in 2022.
Aggad added that the company successfully issued bonds worth USD 80 million even under such exceptional circumstances, a testament to the company’s respected standing in the banking sector and strong financial and operational performance. Aggad stated that issuing bonds at a fixed interest rate of 7.75% for five years is a significant achievement for the company and will lead to reducing bank interest and improving the company’s results during the current year.
Aggad indicated that the company is in the final stages of increasing its capital cash by around JD 11 million, pending approval from the Securities Commission for its implementation, a move that will further the company’s ability to continue implementing its investment and expansion plans, especially in the construction of the company’s new factory in Jeddah, Saudi Arabia.
He added that the company continued its social responsibility initiatives by supporting the local community in all areas within which it operates, supporting various sectors including the medical, educational, and social sectors, and assisting our people in the Gaza Strip. Total investment in social responsibility in 2023 amounted to JD 455,000 compared to JD 366,000 in 2022.
Speaking about the company’s results, Siniora CEO Engineer Majdi Al-Sharif affirmed that Siniora maintained its sales level in the Jordanian and Palestinian markets despite all the conditions surrounding the region, which also included losing the company’s sales in the Gaza Strip during the last quarter of 2023. The company’s sales in the Gulf witnessed a significant growth of 12% and in the Turkish market by 30% due to inflation, which reflected on the company’s financial results for the past year.
He added that the company has launched the initial stages towards establishing its factory in Jeddah, Saudi Arabia, which will be a paradigm shift for the company and will support the company’s sales in the Saudi market.
Siniora Food Industries is a publicly listed company on the Jordanian financial market, and the owner of the Siniora, Unium, Polonez, and Al-Masa brands, and is a subsidiary of the Arab Palestinian Investment Company – APIC.
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COCA Celebrates Q2 2024 with Record-Breaking Milestones and New Launches
HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.
Launch of Physical Cards
COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.
Wallet Growth Milestone
The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.
Transaction Volume Surge
In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.
Integration with Revolut
COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.
Award Recognition
COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.
New Strategic Partnerships
COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.
Welcoming Pavel Matveev
COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.
Season 2 Point System Launch
Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.
NFT Giveaway
In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.
For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.
Website: coca.xyz
COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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Stake and Earn with KuCoin’s Innovative GemPool Platform
VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.
GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.
Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.
For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning
DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.
Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.
In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.
On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”
Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”
Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests
About Trust Wallet
Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.
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