Issa Abdul Salam Abu Issa, Chairman of Salam International (third left) with other Member of the Board of Directors during General Assembly meeting of Salam International at Gate Mall yesterday. Pic: Abdul Basit / The Peninsula
Salam International Investment Limited (SIIL) is planning to expand its operations within consumer services and retail sector which have appreciable growth opportunities and swift cash flows.
The Company also intends to seize investment opportunities that open up new business avenues for it, especially in projects and activities linked to modern technological applications.
This was announced yesterday by the Company’s chairman, Issa Abdulsalam Abu Issa, during the General Assembly where he highlighted the key principles the SIIL aims to follow as part of its future growth strategy.
The Shareholders of SIIL gave their nod to the Board’s recommendation to distribute cash dividends of 8 percent of the paid-up capital, equivalent to 80 Dirhams (QR0.8) per share, for the last financial year ended December 31, 2016.
The SIIL’s General Assembly approved all the other items on the agenda of the meeting including renewal of its joint venture agreements with Salam Bounian, authorising the Board to enter into joint ventures with the sister company in addition to holding their loans and issuing letters of credit and guarantees where necessary.
