DUBAI ( Dow Jones)--Kuwait-based Investment Dar Investment Dar said Monday it has presented its creditors and investors with its financial restructuring plan, which proposes the restructuring of the company's existing financial commitments under a new shariah compliant capital module.

Investment Dar Investment Dar , in an emailed statement, said "a consultation period has been initiated in order to allow sufficient time for the company's banks and investors to analyze the proposed plan and for an open and constructive dialogue to take place on the proposed plan's constituents."

Details of the plan are withheld so far, the statement said, but added that "the plan's main purpose is to focus Investment Dar Investment Dar on certain core assets across the banking, real estate and luxury sectors to form the foundation for a sustainable capital structure going forward."

This will provide the company management with the necessary time and flexibility to maximize value for stakeholders, the statement said.

"As part of the proposed plan, Investment Dar Investment Dar is seeking that its banks and investors would agree to a restructuring of the existing financial commitments under a new shariah compliant capital structure, without a reduction in the company's overall obligations," the statement said.

Under the proposed agreement, all banks and investors will be offered the same terms and required to sign the same financing agreements.

The proposed plan also identifies non-core assets in the current portfolio for potential disposal, proceeds of which will be largely used to meet profit payments and reduce the company's financial obligations.

"We believe our proposed financial restructuring plan presents a considered and fair proposal for restructuring Investment Dar Investment Dar 's current financial commitments in light of current market conditions," senior executive vice president, Amr Abou El Seoud, said.

"We look forward to entering into an active, open and constructive dialogue with our banks and investors. Investment Dar Investment Dar has a strong portfolio of quality assets which we believe will continue to deliver value to all our stakeholders in the medium to long term and the company remains resolute in its commitment to finding a solution to its current restructuring requirements which maximizes value for all stakeholders," he added.

The country's biggest Islamic investment company, which owns half of British luxury carmaker Aston Martin, finalized the plan with its financial advisor Credit Suisse.

The company said it will provide further detail on the proposed financial restructuring plan once the consultation period is at a close.

-By Majdoline Hatoum, Dow Jones Newswires; +9714-3644964; majdoline.hatoum@dowjones.com

Copyright (c) 2009 Dow Jones & Co.

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