GWC helped ease supply shock

DOHA: GWC Chairman Sheikh Abdullah bin Fahad bin Jassem bin Jabor Al Thani yesterday said  GWC played a critical role in stabilising the country’s supply chain system, when Qatar faced an unprecedented blockade by the Arab quartet countries.
Addressing the ordinary general assembly of  GWC here yesterday, Sheikh Abdullah said  ‘under the guidance of  Emir H H  Sheikh Tamim bin Hamad Al Thani, the crisis became an opportunity to reaffirm  the country’s solidarity and self-reliance.’
“We experienced this in action when overnight the nation’s food retail companies ensured Qatar’s food security through charter flights arriving with supplies, with GWC’s full-fledged participation in facilitating critical operations in securing flight clearances, and providing vital distribution and storage services”, the Chairman said.
During the year 2017, GWC saw the completion and launch of much –awaited infrastructure projects like the Hamad Port, along with the optimized utilization of existing port infrastructure though the expansion of the Al Ruwais Port, where GWC was instrumental in reducing congestion through the strategic deployment of their freight teams and transportation, he said.
The ordinary general assembly meeting, chaired by the Chairman, approved the Group’s financial results for the year ended 31 December 2017. The meeting was  attended by representatives of the Ministry of Economy and Commerce; and GWC’s external auditors KPMG.
The General Assembly ratified all items on its agenda including the proposal by the board of director to distribute a cash dividend of 17 percent the nominal share value (QR 1.7 per share). The dividends will be distributed either through direct deposit or by visiting the designated branches of Masraf Al Rayan.
The AGM also  elected the company’s new board of directors. The  elected board of directors are Sheikh Abdulla bin Fahad bin Jassim bin Jabor Al Thani(Chairman); Sheikh Fahad bin Hamad bin Jassim bin Jabor Al Thani (Vice Chairman);  Ahmed Mubarak Al Maadid( Member); Dr. Hamad Saad Al Saad (Member);  Jassim Sultan Al Rimaihi (Member); Mohammed Hassan Al Emadi (Member);  Henadi Al Saleh(Member);  Abdulaziz Mohammed Jabor Al Sulaiti (Member); and Faisal Mohammed Ali Al Emadi ( Member).
The general assemblyreviewed the company’s compliance with the Corporate Governance Code observed in the State of Qatar. KPMG was appointed as the external auditors. The general assembly also cleared the company’s board members of any possible liability, setting the proper remuneration for the board.
“The company has validated its position this year as a bona fide national asset when it harnessed its varied strengths in a seamless, effective manner when our country needed it most,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani.
“It brought into play the Company’s proven competencies in operational management, customized solutions and personnel deployment, displaying a remarkable level of acumen and adaptability – a determined, decisive exercise in solidarity that immensely benefited the nation and its people.”
The general assembly observed that the year 2017 was a year of achievement. The GWC launched  Bu Sulba Warehousing Park  during Q1 2017, representing the country’s first fruit of  Public Private Partnership (PPP).
GWC departments have continued to widen their client base, particularly in the Government and Oil & Gas sectors, with major projects being initiated and completed in record time in Doha and Ras Laffan Industrial city. The Company’s niche departments, such as Fine Art and Equestrian have also worked diligently to bring in a number of projects while working on the nation’s biggest events. “In our endeavour as the authorized service contractor for UPS, the company has grown its market share in the local market and enlarged its footprint through strategic partnerships”, the Chairman said.