The Kuwait Capital Markets Authority has issued a Disciplinary Board resolution imposing a financial penalty on Agility Public Warehousing Company for breaching the listing rules, following findings from its review of the company’s annual financial statements for the year ended 31 December 2024. The breach relates to Article (1-14) of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 (as amended). The CMA found non-compliance with International Financial Reporting Standard 9 (Financial Instruments) and International Accounting Standard 36 (Impairment of Assets), citing the company’s failure to record an investment at fair value as required under IFRS 9, including by determining fair value for assets classified as “assets at fair value through profit and loss” through an internal valuation or an independent valuation.
Kuwait Capital Markets Authority 2025-11-10
Kuwait Capital Markets Authority imposes KD 10,000 penalty on Agility Public Warehousing Company for IFRS-related listing rule breach
The Kuwait Capital Markets Authority has penalized Agility Public Warehousing Company for breaching listing rules, following a review of its 2024 financial statements. The company failed to comply with International Financial Reporting Standard 9 and International Accounting Standard 36 by not recording an investment at fair value.