December 2020
Honorable Shareholders of the Company,
Honorable Shareholders of the Company,May the peace and blessings of Allah be upon you all...
It is my pleasure to welcome you on our new website of National Cleaning Company K.S.C.P.
NCC NCC has travelled far from its position as a market leader in Kuwait and is now consolidating its position as a regional leader in the area of environment protection service, during which the company has made successes in Middle East and India.
In the latter half of the 70’s in the previous millennium, we put our first and bold steps towards a journey of access. We have marched to the present and move along to the future with a stated strategy of sustainable development of our resources and environment.
With the guidance and support provided by the board of directors and the management leadership, NCC contributes globally by thinking locally, the Kuwait operation continues to be the center of excellence, providing support to these operations to bid and win tenders.
Allow me to review the major achievements/contractual agreements made by the company during the past year until issuance of this report:
- Kuwait Municipality - tenders for " City Cleaning services " for the National Cleaning Company, the contract period is five years.
- The Public Authority for Industry - The license to manage, operate, develop, maintain and exploit the industrial waste treatment plants "solid - Liquid in the Shuaiba Industrial Zone and in the Wafra region" the contract period is five years.
- Kuwait Airport – valet parking - Kuwait International Airport, the contract period is three years.
- Ministry of Health - Operation, maintenance and management of the Shuaiba incinerator (1).
- Kuwait National Petroleum Company and Local Marketing - Treatment and disposal of solid hazardous and inert waste.
- Kuwait Petroleum Corporation - treatment of oil wells waste.
- Kuwait Integrated Petroleum Industries Company - treatment and disposal of industrial waste.
Financial Performance
- Total assets of the company for the year 2020 has decreased by 1.9 % to KD 105,471,573 compared with last year of KD 107,540,209.
- Total Equity of the company for the year 2020 have decreased by 6.9 % to be KD 34,630,235 compared to KD 37,206,302.
- The Company’s losses during 2020 has recorded net loss of KD (2,419,735) compared to net profit of KD 1,590,804.
- The EPS reached (10.46) Fils for the current year compared to 6.84 Fils per share.
Governance Report
In accordance with the Corporate Governance Rules, NCC’s board of directors is committed to improve the corporate governance and compliance culture across the company. It adheres to applicable and relevant best practices of corporate governance and recognizes that good governance is vital for the long-term success. board of directors acknowledges and guarantees the integrity and authenticity of the company's financial statements along with all the reports submitted to Shareholders that include the company's financial statements, data and operating results.
Acknowledgments
In conclusion, and on behalf of the Members of the Board of Directors, senior management and all NCC employees, I would like to express my deepest appreciation to our esteemed shareholders for placing their trust in us, which has motivated us to exert all efforts to achieve the goals, aspirations, and strategies of the company.
On behalf of our esteemed shareholders, we express our deep appreciation to the executive management and for all the employees of NCC for their efforts in drawing a strategy to strengthen the Company’s future performance, none of this would have been possible without the earnest effort of the people who toil behind the scenes, making our operations seamlessly integrate with the needs of our customers.
May Peace be upon you and Gods mercy and blessings,
