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March 2017/ Issue 1

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March 2017/ Issue 1 The Newsletter of MB Group of Companies March 2017/ Issue 1 TURQUOISE THE OFFICIAL PETROGAS NETHERLANDS LAUNCHES OPENING OF 365 INJURY FREE M/Y RAZAN 47 YACHT AL BALEED WORK DAYS CONTENTS 1 2 3 4 20 21 22 23 Message from Message from Dr. Mohammed National Day Sahabat Khair Muscat Marathon Paralympics MB Rihalt Club Chairman Editor Al Barwani appointed MBH & MBI & GEC Awards (After office hours) (After office hours) President of “Oman American Business Center”, National Day Musstir 5 7 9 10 25 26 27 28 Fort Lauderdale The offical opening M/Y RAZAN 47M Sukuk: Islamic MB Sports Day MBI Sports Day Ministry of Health MB Health Campaign boat show of AL Baleed Launch Finance Workshop 11 12 13 15 29 30 31 32 Exchange Petrogas MBPS Espresso sessions MBPS Hydrocarbon, Mawarid mining Koller Innovation Chairman Award Program Townhall Management MBPS Bahrain Rawadan Activities Compact E-Drive for Excellence Retreat Operations localization & succession planning milestone 16 17 18 19 33 34 HR Competency HR Internship MB Forum Petrogas Netherlands Petrogas QHSE Official Visit Framework Company of the to UES Rusayl month July 2016 Facilities 365 recordable injury free work days 1 MESSAGE FROM CHAIRMAN MESSAGE FROM EDITOR Dear Colleagues, Despite the persistent economic and financial challenges in 2016, the Group made a number of remarkable achievements during the year. The Sukuk issue by MB Holding in June, Dear Colleagues, secured a much needed liquidity to sustain the business activity in the Group. The opening of a high class Al-baleed We are embarking on a new business year and although Anantara Resort in Salalah is another big accomplishment by 2016 has been very challenging for the group we expect oil Musstir. Petrogas imbedded the recently acquired Petrogas prices to continue to slowly rise in 2017. In tough times it is Netherlands well into its operations and continued to be the important for us to look back and celebrate our collective top performer in the Group in commercial terms. A sales achievements. contract was signed in Turquoise for the NB63 yacht as well as launching the NB60 yacht. Also in Oceanco a sales contract We would like to congratulate Musstir LLC. not only for was signed for Y719 super yacht. UES made a breakthrough successfully launching Al Baleed, Salalah, a first of its kind by winning a supply contract of P9 military speed boats to the five star resort in the region, but also on its prestigious Ministry of Defense in Oman. They won another contract to grand opening held on the 30th of November 2016 under supply to PDO the locally invented ‘stuffing box’ (a valve that the auspices of His Excellency Abdul Aziz bin Mohammed prevents leakage of fluids) which is a very useful device for Al-Rawas, Advisor to His Majesty The Sultan for Cultural the oil industry both in terms of operational effectiveness as Affairs. well as environmental protection. Daleel reached its highest monthly oil production level of above 50,000 barrels/day in We continued with our proud tradition of celebrating the the month of June. HR function steered the organization Omani National Day both nationally and internationally. to cut and control costs and optimize expenditure. In spite In 2016 the celebrations marked 46 prosperous years of of the recent improvement in the oil price, the cost saving His Majesty’s reign and we were proud to express our measures must continue and every item of expenditure gratitude to our country and our leader. must be adequately challenged. In 2016 MBH’s medical team took the initiative to spearhead As we look forward to 2017 the focus areas for various a number of health talks to remind the employees of the Companies shall be as follows; importance of taking care of the mind, body and soul. A healthy employee is a happy employee which has a direct In MBPS, there are early positive signs of the recovery plan to turnaround the Company. The challenge is to ensure that the plan impact on the group’s success. takes hold and the liability burden on the Company is eliminated starting from this year. Specific focus should be on controlling costs especially the excessively high manpower cost as a percentage of the Operating budget, in addition to effective absence management. In MBH’s effort to promote an active lifestyle, all group companies in Oman were invited to take part in MBH Sports tournaments For UES and Turquoise, the main task is to elevate the marketing and sales functionalities so that our products are sold and the held over a week in December and for the first time ever a children’s sporting event was held and we hope to continue with such Companies become profitable. UES shall make good use of the full potential of its new facilities and resources in Oman and events. abroad to optimize return on its investments made over the last years. The HR function in the Group has continuously proven to be a true strategic partner to the business especially in difficult times. In Musstir, an inspiring and forward looking business strategy and operating model are required accompanied with setting and One of the vital goals of HR is to create and sustain an excellent work environment with distinct employee experience. The meeting world class standards suitable for the Real Estate and Hospitality Industry. The Company shall be self-sufficient financially employee survey is a crucial tool to the business to assess what areas to improve in. The survey saw a high rate of participation at on the way to become a profitable business. 80% response rate from 18 Group companies. The feedback conveyed a desire for higher levels of creativity and innovation. As a The goal in Mawarid is to obtain the various permits in Namibia and Saudi Arabia in order to initiate the exploration activities. In result the Company has introduced the ‘ Chairman’s Award for Excellence’ initiative, aimed to encourage innovation by properly Rwanda, the target should be to commence commercial mining operations as soon as possible. recognizing and rewarding excellence across all Group companies. Petrogas shall focus on further exploration of new opportunities and consolidation of its portfolio with good growth prospects in such a way that sustains the Company success. Oceanco shall be aiming to sustain its strong brand equity and enhance its With new leadership in MBPS, the process of turning around the company is in full swing. A management retreat meeting was market share. convened in November whereby challenging and ambitious 2017 business plan was developed. The aim is to make MBPS a solvent and prosperous business again. Corporately, the near term objective is to ensure the Group’s business portfolio mix is balanced, robust and yields the value expected, that is commensurate with the total assets and capital invested. Ongoing support and guidance shall be provided to all Group Companies in order for them to meet their agreed score card targets and other short and long term Goals. Best wishes for 2017 and a happy new year to you all! Going forward, there is a need to build effective Group wide structures in all business disciplines including HR, Finance, IT, Audit and SCM. MBH corporate shall guide businesses to set best practice standards across all business functions with the aim of Rahma Al Barwani elevating the overall operational excellence and competitive advantage in MB Group. Head of Communications & External Affairs We recently announced the launching of Chairman’s Award for Excellence scheme. The aim of this scheme is to encourage, reward and celebrate excellence in the MB Group of Companies worldwide. We look forward to active participation in this initiative. I thank you all for your hard work and contributions in 2016 and wish you a fruitful and prosperous 2017. Dr. Mohammed Al Barwani, Chairman 1 @MB Holding 2 @MB Holding DR. MOHAMMED AL BARWANI APPOINTED NATIONAL DAY MBH PRESIDENT OF “OMAN AMERICAN BUSINESS CENTER” MB Holding celebrated the 46th National Day at its headquarters in Athaiba. The event was attended by employees from its sister companies. The occasion was dedicated to thanking His Majesty on his prosperous reign and his wise leadership. The head office was decorated with streamers of the national colours and the national flag. The celebrations commenced with a recitation from the Holy Quran, followed by a welcoming speech delivered by Shareholder and Director Iman Al Barwani. The event consisted of multiple activities including a poetry recital by an employee’s 7-year-old daughter, a Q&A on Oman’s rich history. The celebration was also combined with the ‘Long Service Awards’ designed to recognize devoted employees. Dr Mohammed Al Barwani, Chairman at MB Holding, thanked staff members for joining in the festivities, stating: “Today is a remarkable day, celebrated by all the citizens. National day allows us to express our gratitude to the country and to our leader for all that he has provided this country with”. National Day is celebrated annually not only at the Athaiba head office but also at our sister companies such as UES & Musstir and international companies. This year Petrogas Netherlands Celebrated the Omani National Day at the Omani Embassy in the Netherlands. On the 14th of November, the Chamber of Commerce officially announced Dr. Mohammed Al Barwani of MB Holding President of the “Oman American Business Centre”. We congratulate him on his new position to promote and strengthen economic and business ties between the two countries. NATIONAL DAY MUSSTIR Oman’s 46th National Day Celebration Sunday, November 20, 2016 On the occasion of Oman’s 46th National Day, Musstir’s office was decorated with Omani flags.
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  • Annual Report 2015
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