Aamal’s diversified business model shows resilience: Chairman

Aamal’s diversified business model demonstrated its resilience as it navigated challenging market conditions and took advantage of exciting opportunities in each of its business segments, Chairman Sheikh Faisal bin Qassim Al Thani said in his address to the shareholders during the annual extraordinary and ordinary general assembly meetings held online on Monday.
“Aamal’s subsidiaries are always seeking to capitalize on new opportunities and maintain their market-leading positions by enhancing and expanding their offerings with innovative new products and services to satisfy growing market demand.”
Keeping abreast of market trends is one of Aamal’s key strengths and helps underpin the company’s commitment to create long-term shareholder value through the continued profitable operation and expansion of its diversified business platform, Sheikh Faisal said.
“Throughout the year, we maintained our commitment to corporate governance best practice and continued to incorporate environmental, social and governance considerations at the heart of our operations.”
For example, he said Doha Cables has started supplying lead-free cables to replace more hazardous cables used in the oil and gas sector, and Aamal launched a new website which is fully accessible to all users regardless of any disability.
“Our partnership with the Olympic Committee to support Qatar’s Olympic Team further reflects Aamal’s ongoing commitment to our community, he added.
At the AGM, the shareholders approved distributing cash dividends equalling 5 percent of the nominal value of each share (QR0.05 a share) and elected new board members — Sheikh Faisal bin Qassim Faisal Al Thani, Sheikh Mohammed bin Faisal Qassim Al Thani, Sheikh Jabor bin Abdul Rahman Al Thani, Sheikh Abdullah bin Hamad Qassim Al Thani, Sheikha Al-Jazi bint Faisal Qassem Al Thani, Kamel Mohammed Al Agla, Sheikh Faisal bin Fahad Jassim Al Thani, Yousef bin Rashid Al Khater and Ali Hussein Al Sadah — for the next three-year term.
To general assembly also approved appointing KPMG as the company’s external auditor for the financial year of 2022 and finalised their fees.