Zayed Al Zayani, managing director of Jaguar Land Rover, said this is Euro Motors' most aggressive investment strategy on showroom development in recent years.
The company's debt hit a high level at end-2102 because of its aggressive investment strategy over the last few years, and adjusted debt/EBITDA stayed above 10.5x during the past year.
"The fund has taken an aggressive investment strategy, it was created to put fresh money into the market, so while other funds were trying to be conservative, we kept less cash and took on more investment risk," explained Radwan.
Morgan Securities also cites the reports of the NCUA's Office of Inspector General that said that many of the problems of the corporates were the result of failures by their executives and an overly aggressive investment strategy.
Salman pointed out that the book comes at the right time, when an aggressive investment strategy is being pursued in the Kingdom since King Abdullah came to power as the king in 2005.