ASRY AGM Reveals Improvements

MANAMA: ASRY (Arab Shipbuilding & Repair Yard), the leading maritime engineering facility in the Arabian Gulf, has revealed improved performance for the first half of 2017 at its Ordinary General Meeting No. 42 at the Company’s headquarters in the Kingdom of Bahrain under the chairmanship of His Excellency Shaikh Daij bin Salman Al-Khalifa, Chairman of the Board of Director and Chairman of the Company’s General Assembly. The meeting was attended by representatives of the shareholding states and by ASRY’s Executive Management.

Shaikh Daij commented after the meeting: “Work progress was discussed in the various activities of the company during 2016 and the first half of 2017. There was significant improvement in the company’s performance throughout the first half of the current year both in ship and rig repair and in new projects of the company. The new roadmap was reviewed, which included the company’s planning of the work schedule over the next period.”

Other matters were approved in the meeting, including: approval of the final audited financial statements for the year ending 31 December 2016, as well as the auditors’ report and Management report for the previous year; the relevant Directors of the Board were relieved of their duties in accordance with their term of office in 2016; a company auditor for the current year, 2017, was approved; and a number of financial and administrative subjects were reviewed, together with the importance of planning the various activities of the company during its next phase.

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