Mubasher: Tamkeen Holding Co, formerly know as Safat Global Holding, suffered an increase of 101.7% in losses during fiscal year 2017 compared to the previous fiscal year.

Losses enlarged to about KWD 89,060 ($298,200) in FY17 from approximately KWD 44,150 ($147,800) in FY16, according to a bourse statement on Sunday.

Tamkeen registered a loss per share of 1.33 fils in FY17 compared to KWD 0.066 in FY16.

The company clarified that the increase in losses is attributed to higher general and administrative expenses during FY17.