Bahri Annual Report-2016



Bahri Annual Report

Bahri Support Services

Bahri Annual Report

Bahri Support Services

shareholders stakeholders alike. In addition, the platform makes it easier to interactively access Bahri’s financial data and information, through various tools that encompass electronic tables and graphs. Moreover, the most important financial analysis tools are available for the shareholder to understand the company’s growth and development over the years. In addition, Bahri participates in investment forums that are organized by specialized companies, to showcase and introduce the company to potential investors and current shareholders. Bahri also organizes private investment related receptions for high net worth individuals as well as heads of investment funds, to appraise them of the company’s potential. All financial information that Bahri shares is publicly available on its web site ( and has been previously disclosed as per the regulations and directives of the Capital Markets Authority and the Ministry of Commerce & Investment. Furthermore, Bahri provides its shareholders and all its engaged stakeholders a platform to regularly interact and communicate with the company. The company’s web site user, whether current or past shareholder, or interested individuals can search for any information that pertains to the company financial or operational news. They include periodic, yearly and operational reports; in addition to marketing collateral and advertising materials. Bahri also makes periodic announcements on ‘TADAWUL’s’ web site and in accordance with the Capital Markets Authority’s disclosure guidelines, in addition to the by-laws of Bahri’s corporate governance framework. and

its infrastructure ROI, through optimizing its cost and spending approach.

with IT and maritime management, to ration the cost of bunker fuel. In addition, Bahri IT enhanced

Bahri’s shareholders enjoy all the rights and privileges as stated in the company’s articles of association, which is in line with the Bahri’s by- laws, corporate governance structure and the regulations issued by the Capital Markets Authority (CMA). The company’s board of directors and its executive management are keen to create a healthy environment, whereby its shareholders can exercise their right and communicate with its management without undue burden. newspaper announcements and news bulletins on the company’s website, and ‘Tadawul’ website, shareholders are made aware of all issues related to general assembly meetings and other pertinent issues that affect them. Amongst these issues is the shareholders right to run for a board seat and to exercise their right to vote and choose their representatives on the board of directors. Another equally important issue is dividend payments, which is announced by the general assembly and the decision is immediately carried out, based on the established procedures. Thereafter, the dividend payment details are recorded with the Securities Depository Center at the end of the trading day when the general assembly meeting was held. And payment is made through local banks within 30 days from the date of the General Assembly’s approval. On the other hand, Bahri Finance developed the platform that would make the company’s publicly available financial content readily available and accessible in order to further enhance Bahri’s level of transparency in relation to its Through regular

Bahri Internal Audit

Investor Relations

company’s business finance units adhere and are in compliance with Bahri’s accounting procedures. Moreover, it periodically creates and updates Bahri’s accounting controls and procedures, based on its annual action plan that is approved by the audit committee.

Bahri’sinternalauditisanindependent department that reports directly to the audit committee and board of directors, which is in line with the company’s governance structure. The department employees highly skilled and qualified audit professionals, who oversee that the

performance of agents and suppliers, the objective is a continuous appraisal of the tasks and actions that are carried out, to identify, if any re- engineering works is necessary. The diligent supervision and monitoring of Bahri’s procedures, standards and service quality level reflects on the company’s proactive approach in reviewing its quality management system. Thus ensuring that its policies and procedures work in tandem with Bahri’s overall outlook.

Quality management is at the heart of Bahri’s business, operational and safety approach. There are periodic quality performance reviews across the management, business units and support functions of the company. They are carried out to ensure its quality management system is safeguarded and is efficiently implemented at all levels and across all departments. Furthermore, internal quality reviews are carried out with the aim of supervising the

Bahri Quality Management

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