EXECUTIVE PRESIDENT ADDRESS
(Engineer Ali Abdullah Al Hassoon
( VICE CHAIRMAN & C E O )
With
the help of God and balance policy in investment that the Board of Directors has
adopted, the company succeeded in avoiding the effect of shakes in the financial
market during 2006 and 2007 and achieve Net profit during those years.
Since 09/07/2007 a peculiar group of business and qualified administrators headed by the chairman Mr. Khalid Bin Omar Al-Baltan join the Board of Directors. The company benefited from their ideas and views to improve and develop its performance and prepare future promising plan, expected to reflect positively on the company profit and shareholders equity in the near future by Gods Will.
The company made sure to support and strength it financial position and maximize shareholder's equity and take the necessary steps and suitable preparation to establish its future projects. One of them is the Aluminum chip factory with cost of SR 800 Million which will be financing after approval of the Capital Market Authority. The company is waiting to receive the license for utilizing lime stone from the Ministry of Petroleum and mineral resource to establish a Cement factory with 5,00 ton per day capacity and a cost of SR 1,000 Million and addition to other projects that the company indented to establish.
The establishment of these projects according to the most modern technology and the choice of the best contractor to implement it will be a basic support to the future of Al-Ahsa Development Company and we expect this to achieve a considerable increase in the company assets and lead to achievement of profit to benefit the company shareholder's
The continue support and the unlimited encouragement that the company and all the national companies receives from the concerned authorities is considered as a incentive for all these companies official to make more effort to improve and develop the performance of their company.
I would like to end this speech to thank all the shareholders for their contacting, suggesting and remark which lighted our way. I would like to thank all the employees of the company for their effort to improve the performance and rise the efficiency
I pray to God to support the effort of all the sincere workers.