Bahrain Mirror: Bahrain Chamber of Commerce and Industry (BCCI) President Samir Nass said that 2018 year constituted a major difficult challenge, in particular on the construction sector, noting the unexpected cost increase of some main constructions materials, as well as the delay of some large projects like Bapco expansion, which had a negative impact on the company's performance.

Nass pointed out that one of the most significant challenges faced by the company during the past year was not collecting much of the money owed to the company in many projects, especially outside Bahrain and in the Gulf region, in particular, which he said significantly affected the company's cash flow.

As for the company's most prominent projects in 2019, Nass said that the company received a tender in the refinery expansion project at Bapco Company, adding that there are other projects that are still under negotiations. He also said that the company got one of the important tenders in Alba expansion projects.

The ordinary General Assembly of Nass company held its meeting on Thursday (March 28, 2019) and during the meeting, the Board of Directors recommendation for allocation the net profit for the year which ended on December 31, 2018 was adopted. It was also approved to transfer 162,426 BD to the legal reserve, which makes 10% of this year's net profit. They also approved to distribute cash profits to shareholders of 5 fils for one share or 5% of the paid capital, which amounts to 1.075 million, in addition to allocating the amount of 30,000 Dinar for charity business, and transferal of 2.7 million to retained profits.

Arabic Version