AlImtiaz holds its first strategic conference in London: Collective actions ... Future Growth ... and Returns

 

30 November 2010
Source : Alimtiaz Investment

As AlImtiaz converts into a holding company, it will put through a sieve its holdings in subsidiaries and affiliates.
Al-Owayd: Results of the global financial crisis has magnified corporate economic entities successes through consolidated strategic visions.

Relying on the success achieved during the first five years, and having overcome the global financial crisis repercussions, especially the most destructive year 2009, AlImtiaz Investment Company, for the first time holds its first strategic meeting in London from 24 to 26 of this month. The meeting will be dedicated for the launch of its new strategy in line with the currently prevailing requirements in synchrony with the desired future goals to be achieved.

Commenting on the meeting Salem Suleiman Al-Owayd, Assistant Chief Executive Officer of AlImtiaz said in a press release that the meeting is intended to launch the new company strategy to take effect starting next year. The strategy seeks to bring together the work of all subsidiary companies under the umbrella of one corporate business post inspired by the principle of collective effort in compliance with the values, policies and trends set by the company. The highly professional level the company seeks to achieve will yield a leading and distinguished position in Kuwait and the region.

Al-Owayd added that this strategy was motivated by the changes inflicted by the global crisis, which demonstrated that large corporate entities are those that have outshined the crisis through the consolidation of the strategic visions. In contrast, many other small entities are still suffering from the same consequences. In addition, the success of the previous strategy has been utilized as base to build upon a sophisticated strategy that befit the requirements of the future and trends of the global economy thus rendering AlImtiaz a sizable corporate entity being successful and adaptable to the requirements of the upcoming phase.

Strategic Success

Al-Owayd explained that the consolidation of the business unites strategic success, reduces cost and boosts the strength of the corporate entity. This is more especially true that the contemplated results may not be achieved except by team work. AlImtiaz professional team and global consultants will address the future growth envisaged and returns anticipated.This process of change towards the new strategy will include several major areas.

The first of these areas is to convert the activity of AlImtiaz as an investment company into a holding company that will closely and effectively manage the group of affiliated companies so that all these companies become subject to an integrated and systematic bloc under the umbrella of the holding company.

To achieve this end AlImtiaz will conduct a review of all its subsidiaries and affiliates so as to enhance, reduce or dispose of its holdings in selected companies.

To focus on certain business lines, AlImtiaz will integrate companies with similar objectives, in order to convert them into an economic magnitude that entails an increase of the capacity and reduction of costs.

Consequently, AlImtiaz will manage between 4 and 7 large subsidiary companies fully integrated and working in harmony and cooperation with each other. The new situation means that the group of companies would operate according to the strategic perspective set by the owners or shareholders of AlImtiaz. The group will also include a financial company licensed by the Central Bank of Kuwait and the Capital Market Authority to cover the professional financial of the corporate group. All companies will report to the financial and administrative departments in the parent company AlImtiaz. Such structure requires the services of a human force with superior skills for the management of major companies, and who also have the ability to positively cooperation with affiliate companies within the group to maximize the capacity and negotiating position for the entire group. This is taken into consideration at a time that AlImtiaz believes that its market will include several more countries and needs to engage in integrated, professional and competitive operational efforts where success will be rewarded to the stronger and better organized entities.

First Axis
Accordingly, the first strategic meeting to be held by AlImtiaz in London will lay down for discussion three axes. The first will cover the causes of the global economic crisis, and the size of the material change resulting from its implications which will be an introduction to understanding the status quo.

Second Axis
The second axis will cover the features of the new strategy of AlImtiaz Group and the required fundamental change in business model of the parent company AlImtiaz and consequently the business models of all subsidiaries and affiliates after closely scrutinizing them. The event program will include lectures, panel discussions and open debates.

Third Axis
The third axis will be dedicated to comments and opinions of the participants. The management will listen carefully to these comments and entertain the suitable ones. Any decision to implement any idea and method of implementation as well the timing will be for AlImtiaz to determine.