Author: dlalabrok_adm

Further to the company’s disclosure of the issuance of the judgment of the Plenary Court of First Instance rejecting the lawsuit No. 2376/2020 that was registered against the Qatar General Insurance and Reinsurance Company and members of the temporary board of directors by some of the company’s shareholders on April 04, 2021, the Court of Appeal issued its ruling rejecting the appeal No. 534 /2021 and upholding the judgment of the Court of First Instance.

Further to the company’s disclosure of lawsuit No. 556/2021 registered against subsidiaries of the Qatar General Insurance and Reinsurance Company by the plaintiff / Al-Sari Commercial Company on September 13, 2021, the Court of First Instance issued its ruling rejecting the lawsuit against subsidiaries of the Qatar General Insurance and Reinsurance Company and obligated the plaintiff to pay the expenses.

Gulf International Services Company announced its annual financial statements for the period ending on December 31, 2021, where the net profit amounted to 54.03 million Qatari riyals, compared to a net loss of 319 million Qatari riyals for the same period last year.
Earnings per share amounted to 0.029 Qatari riyals for the fiscal year ending on December 31, 2021, compared to a loss per share of 0.171 Qatari riyals for the same period in the previous year.
The Board of Directors recommended not to distribute dividends for the fiscal year ending on December 31, 2021.

Baladna Q.P.S.C signed a memorandum of understanding with the Philippine Investment Council (affiliated with the Ministry of Trade and Industry – Philippines) as well as with the National Dairy Products Authority (affiliated with the Ministry of Agriculture – Philippines)
This is in order to enhance ways of cooperation and exchange of information and experiences for the development of the milk and its derivatives industry in the Philippines in particular, with the aim of achieving an increase in the production of fresh milk as well as a diversification of products by offering a wide range of dairy products.
It is also worth noting that the total potential investment of our country in the Philippines could reach 500 million US dollars, which will be invested to create an integrated and large-scale dairy products company.

Gulf Warehousing Company (GWC), the leading provider of logistics services in Qatar, held its Ordinary and Extraordinary General Assembly Meeting on February 16, 2022 and approved the Group’s financial results for the year ending in 2021.
The meeting, which was held at the company’s headquarters, chaired by Sheikh Abdullah bin Fahd bin Jassim bin Jabr Al Thani, Chairman of the Board of Directors, and was attended by representatives of the Ministry of Commerce and Industry, the external auditors of GWC, Ernst & Young, the company’s shareholders, and some media representatives.
The General Assembly approved all items on its agenda, including the Board of Directors’ proposal to distribute cash dividends of 10% of the nominal value of the share (0.10 QR per share).
In addition, the general assembly meeting included a comprehensive review of the group’s compliance with corporate governance rules, and the assembly discharged the members of the company’s board of directors of any potential liability, while determining the appropriate remuneration for the board of directors.
The General Assembly also discussed and approved the Group’s balance sheet, and assigned a new external auditor and set his fees.
For the company’s Extraordinary General Assembly meeting, the company submitted amendments to the articles of its articles of association in order to comply with the Commercial Companies Law No. (8) of 2021.
On this occasion, Sheikh Abdullah bin Fahd bin Jassim bin Jabor Al Thani, Chairman of the Board of Directors, said: “We are proud of GWC’s ability to achieve flexibility in managing its business and commit to its vision despite the challenges and obstacles of the year 2021. It is also commendable that the work What GWC is doing, and the partnerships that are being strengthened, all contribute to the realization of the Qatar National Vision 2030.”
GWC achieved many milestones in 2021 and worked to support the local community and ensure the smooth delivery of goods. Among these initiatives are ensuring the supply and delivery of COVID-19 vaccines to the State of Qatar, providing world-class logistics services for the Arab Cup, signing an agreement with Gaussin and Jam Qatar to test Gaussin environmentally friendly locomotives, and automation solutions for yards in many GWC logistics warehouses, including the Al Wukair GWC Logistics area.
The company also organized a “Be part of the event” forum that provides a platform for experts from various fields to discuss issues related to logistics that support mega events, as well as discuss regional trends and shifts in the logistics sector.
Committed to supporting research and development efforts in the logistics field, GWC has entered into a Memorandum of Understanding with the College of Science and Engineering at Hamad Bin Khalifa University with a particular focus on logistics and supply chain management.
As the regional supporter and official logistics provider for the FIFA World Cup Qatar 2022TM, GWC is gearing up to provide seamless logistical services for the first time ever for this mega sporting event.
In this regard, Mr. Ranjeev Menon, Group CEO, commented: “Through our various projects and partnerships, we have been able to maintain our commitment to supporting SMEs, providing innovative and customized solutions to meet the requirements of our clients from various sectors and providing effective support to them, thus strengthening our position as a leading company in the field of logistics.
The group achieved a net profit of QR 225 million compared to 2020, where the net profit amounted to QR 235.7 million. Accordingly, it achieved earnings per share equivalent to 0.38 Qatari riyals in 2021 compared to 0.40 Qatari riyals in 2020.

Qatar Stock Exchange announces that on Tuesday February 08, 2022 QSE will be closed, in the occasion of the National Sport Day pursuant to Emiri Decree no (80) of 2011.
Trading on Qatar Stock Exchange will resume on Wednesday February 09, 2022.

The Group Securities Company announces the start of market maker activity for all eligible shares, starting from Thursday, February 10, 2022.