The past year has seen many companies rebound from what has undoubtedly been a tough time for the global economy. Adding to the Eurozone crisis and the fear of a fiscal cliff in the US has been upheaval in many parts of the Arab world. A tough geopolitical environment naturally makes it hard to do business, but as the 2012 Arabian Business Achievement Awards show, there are still some stellar contenders in the region.
The Gulf, in particular, is rebounding well from the economic slowdown, with strong GDP growth forecast in most countries. That growth is being driven by strong government spending, but it is also being helped by some excellent corporate performances. From industry and media, to real estate and construction, Gulf firms are bouncing back.
Over the next few pages, we bring the best in entrepreneurial and management talent that this region has to offer. So who took the trophies? Turn the page to find out more.
Fastest Growing Company of the Year
Al Adil Trading
Our judges were hugely impressed on the number of companies forecasting double-digit growth for 2012. But one company stood head and shoulders above the rest. Al Adil Trading, led by managing director Dr Dhananjay Datar, first started trading in 1984 as a tiny grocery store in Dubai selling Indian spices. It quickly created a niche market, and began exporting across the GCC. But in the last year it has really taken off — having grown to 22 outlets in the UAE alone, it has opened its own manufacturing plant in Al Quoz — and seen a staggering 40 percent rise in revenues to AED500m this year alone.
Investment Company of the Year
Gulf Capital
When it comes to big investments in 2012, there have been few better examples than Gulf Capital: a strategic stake in Jordan's Med Ray, an investment in Turkey's Orion Group, a huge stake in the Reach Group, and a $500m new funding facility for acquisitions this year alone. Led by Dr Karim El Solh, it has poured nearly $300m in the Saudi property market since the start of this year. Impressive stuff for a company only formed five years ago, and which is already one of the most heavily capitalised investment firms in the Gulf.
Construction Company of the Year
Consolidated Contractors Company
The winner in this heavily contested category is already something of a legend in the industry, being active in 40 countries and with 80,000 employees across the world. Right now, Consolidated Contractors Company — which is led by chairman Said Khoury — is working on some of the biggest projects in the region, including New Doha International Airport, the redevelopment of King Abdulaziz Airport in Jeddah, and the Khalifa Port and Industrial Zone in Abu Dhabi. This year it continued its remarkable story by being appointed as one of the main contractors for the new Midfield Terminal Building in Abu Dhabi Airport, one of the biggest construction projects anywhere on the planet.
Retail Company of the Year
Paris Group
This category was another tough one for the judges. There were outstanding performances this year from the Landmark Group and Saudi Arabia's Fawaz Alhokair. It came down to a split decision, but in the end, our judges went for Paris Group, which has continued to increase revenues and profits this year — it now has over 250 boutiques, and an incredible 3,300 staff in the UAE alone. Headed up by president Abdulkader Sankari, its franchise division, through partnerships with well-known brands such as Versace and Hugo Boss — keeps on growing, and its food and beverage division, including the Art Café, have had a phenomenal year.
Small Business of the Year
Sugar Daddy's Bakery
How can you judge this category? Is it the number of employees, is it growth, is it profits? In the end, our judges felt the winner should be someone who has succeeded with a truly original idea. Well, back in 2007, Sugar Daddy's raised just $180,000 to start the region's first cupcakes shop in Jordan. The company soon started a global craze, which has resulted in the company expanding across the region, and it is now selling more than a 1,000 cakes a day in Jordan alone.
Article continued on next page...
Developer of the Year
Kinan International Real Estate
The last twelve months have seen the construction industry gradually get kick-started again, and nowhere has this been more evident than in Saudi Arabia, where the country's housing market is really leading the way. And top of that particular tree is Kinan International Real Estate. Already known for its shopping malls in seven different Saudi cities, its move into housing has been a major success. Its first major residential project, a 1 million sq m development in North Jeddah, has entirely sold out, with the second phase already 75 percent sold out. Headed up by its experienced CEO, Nidal Jamjoom, it is breaking records not just for sales but speed of delivery.
Airline of the Year
Emirates Airline
When it comes to destinations, passengers carried and profits, there's no-one bigger than Emirates. This year, the carrier saw its profits more than double in the first six months to $464m. Group revenue rose by seventeen percent to $8.2bn over the previous period, helped by a seat factor that increased to 80 percent, from 79 percent last year. The airline — the world's biggest in terms of international kilometres flown — has carried 18.7 million passengers since 1 April this year, a 15.1 percent increase. It now flies to 126 destinations in 74 countries and has 169 aircraft in its fleet, with another 200 on order.
Healthcare Company of the Year
Hikma Pharmaceuticals
Again, there have been some strong performances in this category during the course of the past year, including from NMC Group and Saudi German Hospitals. But our winner is a company based out of Jordan, which, when it comes to pharmaceuticals, has become a global leader. Back in the early 1990s, Hikma Pharmaceuticals began expanding out of the MENA region into Europe and the US, with great success. It has been built on organic growth and acquisition, and what really impressed the judges is the fact that it is a publicly listed company. The latest results speak for themselves, with a 20 percent revenue growth forecast this year, with first-half revenues up an incredible 34 percent to $532m.
Bank of the Year
RAKBANK
After much deliberation, our judges finally agreed that one bank had really deserved recognition this year. Led by CEO Graham Honeybill, RAKBANK's profits for the nine months to 30 September this year crossed the AED1bn mark, a 14.5 percent rise on last year. Despite tough conditions, it has invested heavily in technology and has been lauded for its work in both retail banking and small business banking — not to mention its strong marketing campaigns and a range of new products. Next year, it will, for the first time, roll out Islamic banking products.
Young Achiever of the Year
Iba Masood
After interning at GE and McKinsey & Co, and after working as an account executive, Iba Masood quit her job to pursue her dream of entrepreneurship. Originally from Pakistan, she launched Gradberry, which is the region's first site for graduate recruitment and employment advice. Since going live in December 2011, it has notched up 2 million visits and helped fill 145 new jobs in just seven months. Around 20 new employers have registered each month including IBM. The site and her company is the talk of the recruitment industry not just regionally but globally - and Masood is still only 22 years old.
Article continued on next page...
Science & Innovation Award
Khaled Al Subai, leader, Qatar Exoplanet Survey
Qatari astronomer Dr Khalid Al Subai has been instrumental in the discovery of a new alien planet, working in collaboration with scientists from the UK and the US. Al Subai's team announced in 2010 that they had discovered a Jupiter-like planet that is 20 percent larger in diametre, and ten percent bigger than the largest planet in the solar system. Qatar-1b, as it is now known, adds to the growing list of alien planets orbiting distant stars. The discovery of Qatar-1b was followed by a second discovery of Qatar 2b and Qatar 2c in June 2011. Al Subai, who spent the best part of his early career working for state-backed Qatar Petroleum, told Arabian Business he expects the team to discover two more planets before the end of 2012. "By the end of this year we should have maybe not only one but a couple [of new planets]," he said.
Businesswoman of the Year
Lama Bazzari, founder, NStyle International
Our winner is an entrepreneur who started her own grooming business back in 2001, and is now recognised as one of the region's largest organically grown companies. Its parent company, NStyle International, owns the premium grooming brands NStyle Nail Lounge, Urban Male Lounge and NStyle Nail Care. On a monthly basis, an incredible 40,000 customers walk through its nineteen stores in Bahrain, Kuwait, Jordan, the UAE and even Canada. What really impressed the judges is not just the fact Lama Bazzari already has 500 staff, but her vision to build her own factories to manufacture the nailcare products across the region, allowing her to create huge new employment opportunities.
Businessman of the Year
Abdulla Mohammed Al Zamil, CEO, Zamil Industrial Investment Company
Abdulla Al Zamil is a true legend of the business world. He is the CEO of Zamil Industrial Investment Co, the fourth largest industrial company in Saudi Arabia by market capitalisation. Zamil Industrial, founded in 1998, sells its products in more than 90 countries with manufacturing facilities in Saudi Arabia, United Arab Emirates, Egypt, Austria, India, Vietnam and Italy. He employs more than 10,000 people in 55 countries. This man, the judges remarked, has been outstanding in adapting the company to the changing global and regional economy. Despite the challenges of the past few years, Zamil Industrial continues to be one of the GCC's best performing companies and indeed one of the most respected globally.
Visionary of the Year
Dr Charles Elachi, executive director, Jet Propulsion Laboratory
Earlier this year, the amazing Curiosity Rover finally landed on Mars after a seven-month journey from Earth. US president Barack Obama lauded the NASA mission, saying: "Tonight, on the planet Mars, the United States of America made history". Heading this project at the NASA Jet Propulsion Laboratory in Pasadena, California, is a Lebanese-born scientist, who is renowned as one of the greatest living scientists. Dr Charles Elachi has written over 230 key publications in this field, and although based in Los Angeles, still has strong ties with the region, working with both the King Abdullah University of Science and Technology and the King Fahd University of Petrochemicals and Minerals.
Outstanding Contribution to Business
Helal Al Marri, CEO, Dubai World Trade Centre
Since the Dubai World Trade Centre was founded back in 1979, it has been instrumental in establishing the emirate as a global financial and commercial hub. But the really spectacular growth has come since 2004, when Helal Al Marri took the helm there. Having previously worked as a strategy consultant for McKinsey & Co, and obtained an MBA from London Business School, Al Marri has been credited with completely reshaping and reenergising the DWTC. It has moved beyond staging events, into real estate, hospitality, facilities management and property management. Under his stewardship, Dubai has become one of the premier business event destinations anywhere in the world.
கருத்துகள் இல்லை:
கருத்துரையிடுக