Milaha Holds Annual General Meeting
Qatar Navigating (Milaha) Q.S.C. held its Ordinary General Assembly conference on March 15, 2017, throughout which the company's audited monetary results for the year finished 31 December 2016 were approved.
The General Setting up also ratified all the staying things on the Program, consisting of the proposition by the Board of Supervisors to disperse a cash money returns of 35% of par worth, equal to QAR 3.5 per share. The General Setting up further approved the consultation of KPMG as external auditors for 2017.
During the General Setting up meeting, HE Sheikh Ali bin Jassim bin Mohammad Al Thani, Chairman of Milaha's Board of Directors, presented an overview of the company's tasks and monetary results for 2016 in addition to an overview for 2017.
The Chairman said: "We took care of to stay lucrative in 2016 in spite of the challenges in a lot of the markets and sectors where Milaha operates. Operationally, we had a number of turning points in addition to which are our historical agreement with the Qatar Ports Management Company (Mwani Qatar) to take care of the first phase of Hamad Port and the launch of our office in Singapore."
The Chairman added: "Going forward, our multi-year method will ensure that we continuously spend for the future, and additionally reinforce our abilities to serve our customers better and efficiently."
Throughout the meeting, the Chairman gave shareholders with response to all the questions that were raised. Milaha's internet revenue for 2016 was QAR 711 million as compared to QAR 1.095 billion reported the previous year. Shareholders can examine the company's monetary statements for more details.
As part of the Remarkable Fulfilling, the General Setting up authorized the suggestion to modify a number of articles in the company's Articles of Organization as per the provisions of the Industrial Business Law.
Dividend distribution will begin starting March 22, 2017 through every one of Qatar National Bank (QNB) branches. QNB has actually been assigned official Dividend Distribution Representative and account management and other administrative assistance solutions to ensure shareholders have simpler and a lot more efficient accessibility to their gained dividends.
Milaha's Extraordinary Genera Assembly authorized the addition of truck trading activity to the company's procedures; a new stipulation to make certain the civil liberties of the company's minority investors, as needed by the Qatar Financial Markets Authority; and modifying the provision of Write-up 34 of the company's Articles of Association.
