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Newsletter 2018 | Issue No ITQAN NEWSLETTER 2018 | ISSUE NO. 12 ENTREPRENEURSHIP AWARD: The late Yusuf bin Ahmed Kanoo honoured with a Lifetime Achievement Award Valve Workshop Opens in The Role of Key Account VAT Tax Implementation & Jubail Management YBA Kanoo Readiness 04 16 17 www.kanoo.com TABLE OF CONTENTS ITQAN NEWS 2018 | ISSUE NO. 12 02 CEO's Message 03 Events 24 ISO tank operations in Africa and Sri Lanka for Bulk haul 03 Lifetime Achievement Award 25 Service Excellence Award from McDermott 04 Jubail Workshop Opening 05 UAE Ambassador Visits Kanoo Family INDUSTRIAL & ENERGY 05 Saudi National Day 25 SABTANK-SABIC Plant Upgrade 06 BASF & Kanoo Dinner 26 Strategic Deal with Nationally-Owned Oil 06 VAT Workshop Company 07 Bahraini Women’s Day 26 Drilling Agreements with Saudi Aramco 08 Bahraini National Day 26 Emirates Steel EPC Contract 10 Compliance Training 26 Peroxide Hazard Training 11 HR Regional Meeting 27 Outstanding Award from CDC-Groth 12 MenaITech Appreciation Lunch 27 Certificate of Appreciation principal ARKEMA 13 BBBF Golf Day 27 Materials Handling Middle East 2017 14 Sponsoring Khalid bin Hamad Theatre Award 14 Sponsoring Manama Entrepreneurship Week KANOO TRAVEL 14 Sponsoring JCA Premier League 28 Nokia Contract 15 Sponsoring Fight Night 28 Worley Parsons Contract 28 Etihad Gala Dinner 16 Features 29 Baku Offer 16 The Role of Key Account Management 30 Kanoo on Rails 17 VAT Tax Implementation 30 Aramco Mini Travel Show 31 STA Travel 19 Group News KANOO CAPITAL SHIPPING & LOGISTICS 32 Establishing Kanoo Capital 19 BASF Contract 19 Huawei Contract 19 Delivery of 70-tonne boiler 33 Team Kanoo 20 Clearance & Handling at Jewellery Arabia 33 Harmonising Staff benefits 20 Clearance & Handling at World Endurance 34 Long Service & High Achievers Honoured in Championships 2017 Bahrain 21 Gulf Petrochemicals & Chemicals Association 35 20 Years of Service (GPCA) Participation 35 Goodbye Roger 21 Warehousing Contract In Riyadh 35 Farewell Hussain 22 New Kanoo Logistics Facility in Dammam 36 Travel Staff Award 22 Creating Kanoo Africa 36 Bahraini Women Honoured 23 Restructure of Commercial Team 36 Employee of the Month 24 Rescue Operation in Red Sea 37 Welcome on Board CONTACT DETAILS YUSUF BIN AHMED KANOO W.L.L Kanoo Tower Phone: +973 1722 0220 P.O Box: 45, Manama Rd 1703, Blk 317, Diplomatic Area Fax: +973 1722 9122 Kingdom of Bahrain Kingdom of Bahrain Web: www.kanoo.com 02 and strengthening our profile with customers and principals, with high-level meetings taking part with Aramco, Yokogawa, BASF, DP World and SEC, to name a few. This emphasises our transformation into positioning YBA Kanoo Group as a solution provider. An area of focus remains to unify the organisation behind a single, unified vision. We no longer have Boards for each of our divisions – they are now all under one Group Board. This has allowed silos to be broken, eradicated country borders CEO'S and revolutionised our internal decision-making process. As these operational silos continue MESSAGE to be broken down, we are gaining synergies between divisions, for instance in logistics and Dear Colleagues, travel. We continue to restructure internally, with our Industrial & Energy restructure well underway Welcome to the fourth quarter edition of the and ready to go live early this year. ITQAN Newsletter. We are coming to the end of the first full year with Vision 2020, and I am We have also welcomed on board Group Internal pleased to report that many of our strategies Audit Manager Alex Wallace, Group Tax Manager and initiatives are bearing fruit and we are Julian Lorca-Valverde, and Key Account gaining momentum. As we start the new year, I Manager Abdulaziz Darmeeh. The internal audit would like to impart a message of focus. We are function will evolve to offer an independent and seeing big changes, but we can only continue to objective assurance and consultancy to YBA achieve our goals if we maintain the momentum Kanoo. Tax will have been rolled out on January and operate with a sense of urgency. 1, and Julian and his team have been working hard to ensure that the proper IT and financial We have had some big wins last quarter, from a systems are in place. $15 million contract with a nationally owned oil company and several potential bids, to working I have promised to create a world of opportunity with Huawei on logistics, expecting 3,000 – and we are beginning to see that shape up. annual shipments and covering BASF for all of Our leadership programme has been approved Saudi Arabia, UAE and Bahrain. We have made and will kick off in March, with 20 employees an extremely strategic acquisition for shipping in embarking on an 18-month programme that will South Africa and have created Kanoo Africa, an be fully funded and include structured rotation, important step forward in globalising shipping. risk taking and courses. We have also equalised Kanoo Travel has won two five-year contracts annual leave and medical coverage across all with Nokia and Worley Parsons, and are working regions, coming into full effect this month. on potential bids with big-name customers. We opened a new workshop in Jubail, located close to our customers and potential customers – with Yours Sincerely, an aim to manufacture in the near future. This drive has resulted in a spike in our finances, with organic growth of our top line, showing our revenue higher than 2016 four months in a row. These positive results are the precursor of further work, and one of our key focus points for 2018 will continue to be cost savings and revenue generation. We must always keep optimisation and digitalisation in mind to Dr Patrick Chenel improve cost as well as quality and control. Top Group Chief Executive Officer management has taken an active role in building ITQAN NEWS 2018 | EVENTS 03 HRH Prince Salman handing Khalid Kanoo the award, with Saud Kanoo His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister handed YBA Kanoo Group Deputy Chairman Khalid Mohamed Kanoo the Life Achievement Award in honour of our late founder Yusuf LIFETIME bin Ahmed Kanoo, in the presence of Group Managing Director Saud Kanoo. ACHIEVEMENT The award was presented at the Third Annual Bahrain Award for Entrepreneurship, which is held under the patronage of His Majesty King Hamad. During the ceremony, the Crown Prince highlighted the importance of human capital as the most valuable resource to any economy, adding that it is through human creativity AWARD and innovation that nations such as Bahrain are able to create promising opportunities. Winners of this year's Bahrain Award for Entrepreneurship 04 ITQAN NEWS 2018| EVENTS Dr Chenel, left, Mr Al Qahtani, second from left, and Mr Burke, third from left, opening the workshop YBA KANOO INAUGURATES STATE-OF-THE-ART VALVE WORKSHOP The new state-of-the-art workshop “Its strategic location and proximity to our customers allows us to reduce lead time, giving us a higher Touring the workshop and its capabilities advantage over our competitors. “Within our immediate surroundings we have also begun A new Yusuf bin Ahmed Kanoo Workshop for Industrial to work with potential customers who would benefit both Valves was officially opened in Jubail in November. from the products produced and service capacity of the The event was honoured by the presence of Saudi workshop.” Kayan Contractor and Services Manager Mulfi Salem Al Qahtani, and was attended by YBA Kanoo Group CEO Dr The YBA Kanoo Workshop is also an authorised service Patrick Chenel and Industrial & Energy Executive General centre for Colfax pumps, BRDR Christensen plug valves, Manager Fergus Burke amongst other high ranking Faris safety relief valves and Groth pressure and vacuum guests. relief valves. The new workshop will assemble, maintain and repair "This is part of Kanoo Industrial & Energy strategy valves, and will include services such as retrofit and to expand its range of solutions to clients within the upgrade of various industrial valves; replacing and Operations & Maintenance phase of projects," Mr Burke reconditioning mechanical seals and rupture discs; and said. steam trap inspection/survey and replacement. The workshop is strategically located in Jubail, in the Kingdom “The new workshop will deliver a quality service to its of Saudi Arabia, close to many of its clients’ facilities. clients with a commitment to the safety and wellbeing of its personnel. “The opening of this facility is a major milestone in our transformation plan,” Dr Chenel said. “Kanoo Industrial & Energy will be manufacturing valves in the near future, and the next step will be to expand our “It also reaffirms our commitment to the country through workshop to repair and overhaul pumps and motors to the Saudi Aramco value added programme, IKTVA, and support with the maintenance of our clients’ facilities in helps develop a world of opportunity for young Saudis. Jubail.” ITQAN NEWS 2018 | EVENTS 05 The Kanoo family with Mr Al Khouri UAE AMBASSADOR VISITS KANOO FAMILY UAE Ambassador to Bahrain His Excellency Abdulrahman Adullah Al Khouri visited the Kanoo family at the Kanoo Guest House in Mahooz. The visit took place in the presence of several GCC ambassadors from the GCC, as well as senior officials, businessmen, community leaders and media. During the ceremony, Group Deputy Chairmen, Khalid Mohamed Kanoo emphasised the depth and strength of the ties between Bahrain and the UAE in terms of various fields of development under the leadership of the two countries and bilateral co-operation. Mr Kanoo also praised the ambassador’s efforts in developing existing co-operation, especially in economic, trade and investment. The Ambassador thanked the Kanoo family for their warm reception and welcome, stressing his desire to promote and further develop the historical relations between the two brotherly countries.
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