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Samir Hleileh.. The Chief Executive of PADICO: The company is restructuring and integrating its companies to meet the current and projected economic challenges

2009-03-10
Ramallah - from Maher Al-Sheikh and Mohammad Abu Khudair - Samir Hleileh the Chief Executive Officer of Palestine Development and Investment (PADICO) announced that the company is intending restructuring and integration of its affiliates and allies to be ready to face the ahead and projected economic challenges for the coming years. Hleileh said in a meeting organized by the Journalists Club yesterday evening "This year is the year of change and we should be pioneers in research for investment opportunities in new investment sectors and adapt to the effects of global crisis within costs and expenses reduction and combine our efforts better in PADICO group, and we hope in the General Assembly for PADICO that will be held in 9/5 of this year that we have a set of conclusions, proposals and draft resolutions that will present to open the door better years in the present and the future". And added "There are major important steps for 2009 and 2010, and a new working method and this will not succeed without association with the restructuring of the company including staff training and administrative and financial systems and their relationship to affiliated companies and there are a large number of advisers working with us on this subject to be applicable before the end of this year". Hleileh said "we have promised before about 7-8 months with changes in the years 2008-2009, not only because the result of the global crisis or PADICO profits, but in the particular structure of the company and the nature of its investments and its relationship with the allies of the companies and the nature of their investment and presence in Palestine". He said "the company was founded in 1993 due to a convince within the investors to build the country"s economy on a solid foundation". Hleileh said that "since year 99 - So far there is no new quality additions to the companies of PADICO but there was a partial investment in some companies, although there is security stability in the country despite the absence of political stability, but at least we ended a difficult stage in the years 2001 to 2005 from the Israeli army that was attacking the cities in a case of war to a relative stability even with the presence of the Hamas government in Gaza and the international boycott, but PADICO can co-exist with the political situation in Palestine and always trying to find new areas for investment and lay a basis for large promising companies in the Palestinian economy". Hleileh believes that the first move  was working within the months 5, 6 and 7 of 2008 which was the first step that helped PADICO in the face of the economic crisis without significant losses, a move to separate the portfolios among the direct investments in the months 7 and 8, led to the liquefaction of a large part of the portfolio invested outside of Palestine and made the impact of global crisis and the crisis in financial markets in the Arab Markets in the third and fourth quarter and even the first quarter of this year less than we expected, meaning that the overall losses of the company in their portfolios during 2008 amounted to 8 million dollars and if we did not take this step in the month of 7, losses will be bigger than this" and said "This part we did at an early stage before the global crisis not because we were informed of the arrival of this crisis, but because of separation of financial direct investment off our portfolios because of our desire to provide liquidity to start a new companies and expand our existing investments.

 

2017-08-17
Medium liquidity with the end of the legal semi-annual disclosures’ period

2017-08-16
PADICO posts net income of $7.46 million in H1 2017

2017-08-16
PRICO realizes net loss of JD1.28 million in H1 2017

2017-08-16
WASSEL reports net income of 0.07 million in H1 2017

2017-08-16
JCC reports net income of JD0.27 million in H1 2017

2017-08-16
AZIZA reports net income of JD2.20 million in H1 2017

2017-08-16
PID realizes net loss of JD0.03 million in H1 2017

2017-08-16
PIIC records net income of JD3.33 million in H1 2017

2017-08-16
PIBC records net income of $1.97 million in H1 2017

2017-08-16
LADAEN realizes net loss of JD0.50 million in H1 2017

2017-08-15
NCI reports net income of $0.15 million in H1 2017

2017-08-15
PALAQAR reports net income of JD0.07 million in H1 2017

2017-08-15
JREI realizes net loss of $0.17 million in H1 2017

2017-08-15
TIC records net income of $1.33 million in H1 2017

2017-08-15
NSC reports net income of JD0.13 million in H1 2017

2017-08-15
ABRAJ posted net income of $0.18 million in H1 2017

2017-08-14
AQARIYA reports net income of JD0.42 million in H1 2017

2017-08-14
BOP posted net income of $24.72 million in H1 2017

2017-08-14
TRUST posted net income of $2.83 million in H1 2017

2017-08-14
PICO reports net income of $2.13 million in H1 2017

2017-08-14
GMC posted net income of JD0.60 million in H1 2017

2017-08-14
JPH posted net income of $0.76 million in H1 2017

2017-08-14
GUI records net income of $0.96 million in H1 2017

2017-08-14
BPC reports net income of $6.02 million in H1 2017

2017-08-14
TNB records net income of $5.36 million in H1 2017

2017-08-14
PEC reports net income of $5.25 million in H1 2017

2017-08-13
ELECTRODE records net income of JD0.09 in H1 2017

2017-08-13
AIB reports net income of $4.01 million in H1 2017

2017-08-13
NAPCO records net income of JD0.18 million in H1 2017

2017-08-13
APIC reports net income of $7.87 million in H1 2017

2017-08-10
Al-Quds Index increases amid the semi-annual financial data disclosures’ domination

2017-08-09
ARAB records net income of JD0.05 million in H1 2017

2017-08-09
ISBK reports net income of $6.37 million in H1 2017

2017-08-09
APC records net income of JD0.70 million in H1 2017

2017-08-09
MIC posts net income of $1.00 million in H1 2017

2017-08-07
UCI reports net income of $0.54 million in H1 2017

2017-08-07
VOIC posts net income of JD3.39 million in H1 2017

2017-08-07
PSE realizes net loss of $0.10 million in H1 2017

2017-08-07
QUDS reports net income of $6.13 million in H1 2017

2017-08-07
PALTEL records net income of JD33.06 million in H1 2017

2017-08-07
BJP records net income of JD0.59 million in H1 2017

2017-08-03
Executing several transactions raises the market's trading value this week

 

 

 
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