Bahri Annual Report-2012

Chapter two Strategic Business Units and Support Departments

Reports showed a few gaps, and recommended some improvements in infrastructure to provide safe and high quality services. In addition, all the Company’s networks have been merged into one single network to increase protection, benefit from common services, and reduce the cost of maintenance and development. The Company’s internal information portal has also been recently developed with visual and audio internal communication programs to enhance cooperation, teamwork, information-sharing and increased efficiency. The third phase of the strategic plan projects (Manara 3) was adopted and approved for implementation in 2013, which includes replacing the current system employed in the general cargo transport sector in order to improve work efficiency and productivity and to increase the level of information sharing between the sector’s divisions. For this purpose, the new ERP system will be applied in the general cargo transport sector. In addition, the Business Intelligence (BI) System project will be implemented to support the application of smart reports to help concerned senior management and heads of sectors and departments to follow up performance indicators, easily and safely obtain a set of analytical reports on several levels, and make quick and more accurate decisions. Companies organized by Morgan Stanley in London which encourages foreign companies to invest in Saudi companies. • Participated as a media sponsor in Seatrade Middle East Maritime Exhibition and Conference which is a major maritime event held in Dubai. • Participated in a conference organized by HSBC in January 2012 in Riyadh. • Participated in a seminar by Merrill Lynch in February 2012 in Riyadh. • Participated in a conference arranged by HSBC in May 2012 in Turkey. records, accounting policies, internal regulations and procedures, contracts and government regulations, etc. In order to implement this, annual plans are put in place, taking into account the risks and the recent International Auditing and Assurance Standards. Furthermore, to keep up with the expansion and diversification of the Company’s activities and fleets, the Audit Department has restructured their auditing work to correspond to the developments in the Company’s expansion strategies and business, through conducting comprehensive studies of the risks and establishing a greater scope to review the electronic, financial administrative and technical systems, which resulted in greater efficiency in the audit outputs and reports. The Audit Department has conducted a trial examination of the accounts and documents of branches, regional offices and subsidiaries, according to their 2012 audit plan and the necessary reports have been submitted to the Company’s Audit Committee.

• National Committee for Joint Stock Companies • US-Saudi Arabian Business Council (USSABC) Contributions and participation

• The Company sponsored a seminar on the current status and future prospects of maritime transport, which was held by the Eastern Province’s Chamber of Commerce and Industry. • Participated in the International Exhibition for General Cargo and Heavy Equipment (BHP 2012) held in Mumbai, India. • Participated in the annual conference for Saudi Joint Stock

Information Technology Department

Information Technology is one of the key tools for accomplishing the goals set for the Company and achieving excellence in the marine industry by providing a set of integrated advanced services. Therefore, like all leading companies around the world, Bahri has invested in the latest technology to facilitate and manage its business operations and to provide multiple electronic services through a safe and stable working environment for the Company’s customers, investors, and all parties concerned with its activities. These services are available on the Company’s official website, the Company’s social networking pages and through mobile applications, to communicate with shareholders and customers and meet their demands and aspirations. As part of Bahri’s Strategy for Information Technology, the second stage of the (Manara 2) project was implemented in 2012, which included many IT initiatives to expand the use of the ERP system and cover various business units of the Company. Further, during this stage, users increased their focus on the actual use of newly installed systems to ensure optimal use, while providing maximum security for these systems and their hardware. Security procedures have been assessed in order to ensure a secure work environment and the continuity of regulations. The Company has a separate internal audit and control department performing their responsibilities under the supervision of the Audit Committee formed by the Company’s Board of Directors. This department includes professional and highly qualified auditors, along with outstanding technical shipping staff who have expertise in the technical review of the operation and maintenance of operating vessels and new ships under construction, according to the highest international standards. The Audit Department is continuously working on developing the capabilities and skills of its employees by applying modern and specialized technologies in implementing auditing programs and standards, through training and keeping up with the latest auditing developments and concepts. The Audit Department reviews the work of the Company’s business units, offices and branches, according to the regulations, standards, policies, procedures, controls and financial and technical risks, Internal Audit and Control


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