Daily Archives: May 10, 2020

Agthia Group announces 12% increase in Q1 revenues

ABU DHABI, Agthia Group today announced its financial results for the first quarter of 2020, registering total revenues of AED571 million, a 12 percent year-on-year growth compared to the same period in 2019.

In a statement on Sunday, Agthia registerd net profits of AED27 million as of 31st March 2020.

The Group’s agri-business recorded AED273 million in revenues, an increase of 21 percent year-on-year. “The flour segment not only retained its market leading position across retail channels, but also achieved significant top-line growth of 52 percent to AED154 million versus last year,” the company noted Within Agthia’s consumer-business, revenues reached AED298 million, a six percent year-on-year increase, where the food segment net revenues increased by 21 percent driven by trading items, as well as tomato paste and frozen foods in both UAE and Egypt, as consumers responded to the current pandemic situation.

Also, the company’s water and beverage category revenues reached AED216 million. In the UAE, Agthia’s five-gallon home and office distribution business grew its top-line by eight percent year-on-year, while the bottled water portfolio sustained its strong market leadership in both volume and value share at 29 percent and 26 percent respectively.

Khalifa Sultan Al Suwaidi, Chief Investment Officer at ADQ and Chairman of Agthia, said, “As we look ahead to further improve efficiency across the F&B sector, Agthia’s Q1 2020 financial results demonstrate the company’s robust and strategic response to the current challenging market conditions.

“Our agile supply chain and tried and tested business continuity strategy have also supported these strong results. It is even more important at times like these for us to reaffirm our commitment to align with the vision of the government and promote the wellbeing of people through our nutritious products,” he added.

Jamal Salem Al Dhaheri, Acting Chief Executive Officer of Agthia, said, “We continue to produce positive results in core segments such as food and flour, as well as a dominant lead in market share across key categories such as water. This was the result of a number of factors, not least the implementation of our strategic business continuity plans, and a concerted programme of ensuring that all our consumer support division outlets have plentiful stocks of staple food and beverage products.”

Source: Emirates News Agency

Sharjah Ruler issues decree on expropriation of real estate

SHARJAH, H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, issued Decree-Law No. (2) of 2020 on the expropriation of real estate for the public benefit in the Emirate of Sharjah.

The new Decree-Law stipulates that property may not be expropriated except in the public interest and in exchange for fair compensation; in accordance with the provisions of this Decree-Law.

The Decree, in line with the public interest law in the emirate, has specified the following: 1. Urban planning, rehabilitation and replacement projects.

2. Establishing or developing public projects, infrastructure, public and service facilities, government buildings, etc.

3.Establishing natural reserves and pastoral areas.

4. Positioning and protecting the physical cultural heritage sites.

5. Expropriating the surrounding or adjacent properties that negatively affect public projects, infrastructure, public and service facilities, government buildings, etc, or on expropriated properties, in terms of achieving the public benefit, urban form, appearance, area, improvement, or required development.

6. Achieving security, serenity, health and public morals.

According to Article (4) of the Decree-Law, the Compensation Commission and the Appeals Commission are to be established , and follow the Department of Town Planning and Survey. The Commissions enjoy certain competences and jurisdiction. The Compensation Commission shall be formed of a Chairman, Vice- Chairman and a sufficient number of members to be named by a decision of the Sharjah Executive Council (SEC). The Appeals Commission shall be formed by a decision of the Sharjah Executive Council.

Article No. (7) of the Decree-Law has further stipulated that it is not permissible to combine the membership of any of the committees referred to in Article No. (4) of this law. The Decree-Law specifies the procedures for expropriating the real estate.

The expropriation of real estate for the public benefit shall be implemented by a decision of the Sharjah Executive Council or its delegates , upon the proposal of the Chairman of the Department of Town Planning and Survey (DTPS). The Government agencies must submit their requests for expropriation of real estate for the public benefit to the DTPS’s Chairman to study it and submit the appropriate recommendations in this regard to the Executive Council. If approved, the Sharjah Executive Council may charge the government agency, which submitted the expropriation request, all or part of the compensation amount to the property holder.

The Department of Town Planning and Survey shall notify the property holder and the concerned authorities of the expropriation decision for the public benefit within 60 days of its issuance, in accordance with the procedures determined by the executive regulations.

The Decree-Law has also stated that the ownership of the expropriated real estate for the public benefit shall be transferred to the government as of the effective date of the expropriation decision.

It also stipulates that compensation is estimated according to the market value of the property at the time of the expropriation decision issued by the Compensation Commission, and the executive regulations specify the rules and principles for assessing compensation. The compensation for the expropriated real estate for the public benefit is to be in cash or in kind , with an alternative property or both, according to the Compensation Commission’s decision.

Department of Town Planning and Survey shall present the compensation to the property holder within a period not exceeding (90) days from the entry into force of the expropriation decision for the public benefit.

the Decree-Law approved the cancellation of the expropriation decision for the public benefit. And the property holder is entitled to compensation in accordance with the determination of the executive regulations.

The Decree-Law has further stated that the Planning and Surveying Department takes all procedures for evicting the expropriated real estate for the public benefit according to what is determined by the executive regulations, and it has the right to seek the help of forced execution.

A decision of the Executive Council shall be issued based on the Chairman’s presentation of the following: the executive regulations; administrative violations and penalties; and the topics for which no regulation is stipulated in this decree in a manner that does not contradict its provisions According to Article No. (23) of the Decree-Law , the Executive Council Resolution No. (31) of 2012 regarding the organisation of the permanent compensation committee in the Emirate of Sharjah has been canceled, and any provision that contradicts the provisions of this decree is repealed by law. All regulations and executive decisions that do not contradict with the provisions of this decree shall continue its practices, until it is amended or canceled according to the executive regulations of this Decree-Law or the decisions issued according to it.

The Sharjah Consultative Council shall be informed of this Decree-Law as soon as it convenes.

The new Decree-Law is effective by law after 6 months from the date of its issuance, and the concerned authorities must implement its provisions each in its respective field, and shall be published in the Official Gazette.

Source: Emirates News Agency

CSD launches Ramadan e-Booklet for private schools in Sharjah

SHARJAH, The Child Safety Department, CSD, an affiliate of the Supreme Council for Family Affairs, SCFA, in Sharjah, has launched an interactive Ramadan e-Booklet in both Arabic and English to assist parents with organising their children’s tasks, home responsibilities, leisure time, whilst also encouraging them to learn positive behaviours.

CSD has tied up with the Sharjah Private Education Authority, SPEA, to distribute these booklets electronically to all private schools across the emirate.

Hanadi Saleh Al Yafei, Director of CSD, said, “The purpose behind introducing these interactive booklets is to offer parents and children a proper routine to follow within our almost entirely homebound lifestyles due to the coronavirus pandemic. This easy-to-use booklet is ripe with dynamic and fun content, which offer families a great opportunity to ensure their child’s personal growth and create a positive environment at home. While designing the booklet’s contents, we made sure to enrich it with equal parts education and entertainment in a bid to instill positive behaviours and the religious practices of Ramadan, which will ultimately bring families closer together.”

“The weekly timetables will instil a sense of responsibility in children towards their homes and parents, and draw their attention to the importance of making the most of their free time to learn and acquire new skills, and expand their knowledge. The booklet poses interesting challenges too – to encourage children to innovate and turn them into opportunities,” she added.

Dr. Muhadditha Al Hashimi, Chairperson of SPEA stressed the importance of such initiatives in promoting a culture of community service, and reasserted SPEA’s proactive approach to forging strategic partnerships with relevant entities and institutions to achieve their shared community-minded goals.

Al Hashimi also said that the process of learning goes beyond academics to build knowledge, life skills and intellect that promote responsible behaviour, in accordance with the vision and directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.

The link to download the booklet is available at @childsafetyuae, CSD’s social handle for Twitter and Instagram.

Source: Emirates News Agency

Sharjah launches media campaign to highlight role of 47-point stimulus package

SHARJAH, The Sharjah Consultative Council, SCC, represented by the Financial, Economic and Industrial Affairs Committee, launched today the emirate’s first media campaign.

The campaign aims to shed light on Sharjah government’s economic stimulus package to support the public and private sectors, business sector, and the individuals and the role of this package in business sustainability, ventures, and reinforcement of the private sector amid the global challenges and repercussions of the new coronavirus, COVID-19, on the global economy.

The move comes as part of the SCC’s keenness to enhance communication with community members as being their voice in illustrating the challenges they face.

Through a video posted on its social media platforms, the SCC underlined that the wise leadership has successfully managed the COVID-19 crisis, stressing that nothing will hinder the journey of building, development, and cultural evolution and nothing will hamper the UAE’s aspirations irrespective of the challenges.

The campaign, which is running until the end of Ramadan under the theme ‘We’ll get through this’, has emerged from the remarks of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council, SEC, upon chairing a meeting on the launch of the stimulus package, during which he said, “We’ll get through this crisis. We’ll be more ready. We’ll be seeing you soon. Thank you.”

Ali Mohammed Al Suwaidi, Chairman, SCC, said, “In line with the directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, in terms of empowering the SCC to play its role as a representative of the society, we seek to highlight the positive impact of the economic stimulus package on business sectors and startups and its role in facilitating the work of the public institutions in stimulating society groups to persist and overcome the challenging times.

“The campaign also aims to send a message of assurance to investors and business community that their business will continue uninterruptedly, in addition to encouraging the existing investments to achieve its objectives, as well as calling upon community members to join hands with the wise leadership to get through this crisis and turn the coronavirus dark cloud into a silver lining with resolve and determination.”

Al Suwaidi added, “Among the other goals of the campaign are enhancing cooperation and partnership between the business-related public and private institutions and their relationship with the various industrial, financial and commercial sectors to combine efforts to support opportunities for the continuous improvement in the business environment amid this global crisis and sustain the development process of Sharjah.”

He explained that the campaign will follow up on the issues facing the investors and business sectors to overcome the challenges and find creative solutions, as this would help ensure the empowerment and seamlessness of their business, so ultimately, maintaining Sharjah’s position among the best regional and global investment destinations.

Saif Mohammed Al Midfa, Chairman of the Committee on Financial, Economic and Industrial Affairs, said, “This economic package is a clear message by the Sharjah government to everyone that challenges can be turned into opportunities through the proper planning and exploitation of this exceptional and qualitative initiative.”

The government wants also to send a clear message to the investors and business community that it will remain supportive of everyone whatever the circumstances.

“A number of messages will be posted on social media platforms, in cooperation with the public and private institutions, to highlight the 47 points of the stimulus package. Such decisions have formed a forward-looking vision to enhance Sharjah’s competitiveness in the various economic sectors, in addition to their role in creating a developmental climate to overcome the current circumstances and strengthening the confidence of the business community and local and international companies in the stability of the business environment in Sharjah,”

Al Midfa pointed out that the economic stimulus constituted a future strategy and an investment in the future of the emirate to make a shift in the economic and development performance in the short and long term, making it fully prepared for the post-COVID-19 economy and the resumption of its development renaissance in various fields.

He urged members of the community and its institutions to interact with and spread the campaign to reaffirm Sharjah’s status and its determination to continue its economic plans and its development process for a present and a future full of achievements.

Source: Emirates News Agency