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CEO's
Quarterly Message
30 June 2010 (2nd Quarter End Message)
Dear All,
The second quarter of 2010 was filled with events. EQUATE Turnaround Team realized remarkable achievements by successfully completing the activities planned for the year 2010 well ahead of schedule. This Turnaround efficiency of EQUATE is extraordinary! Utmost appreciation goes to the team who led this activity and the entire organization for their support.
For the second consecutive year, EQUATE was crowned with GCC HSE Gold Excellence Award instituted by the American Society of Safety Engineers - Gulf Chapter for our superior EH&S achievements across the region. EQUATE achieved 23 Million Safe Work Hours without any Day Away Work Case at the end of May and the count continues.
EQUATE has announced its first quarter results earning USD 222 million as combined net profit for Greater EQUATE companies, which is 84% higher than original plans. Such good results are due to improvement in product pricing and the organization's excellent performance to realize its 2010 goals. We are aiming at continuing our success story in upcoming quarters.
All of these achievements were highly commended by EQUATE Board of Directors during its second quarter meeting which took place last May. EQUATE's bi-annual Management Forum held during June deliberated several business and people related issues. The forum's major highlight was EQUATE leaders conducting a workshop to analyze the results of EQUATE Opinion and Action Survey (EOAS), as well as devising potential solutions and action to improve overall company performance based on the survey done by a third party. Such practices demonstrate EQUATE's overall abidance by world class standards.
The summer is upon us, yet our CSR team is busy with the EQUATE Awareness Campaign for Hypertension (Stay Normal) which is holding people-driven activities at malls and dewaniyas throughout Kuwait while enjoying laudable success and overall society appreciation.
I wish you and loved ones all the best throughout the season!
Hamad Al Terkait,
President and CEO
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