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On October 29, 2024, RAPCO Investment PJSC announced that its Board of Directors will hold its fourth meeting of the year on Friday, November 1, 2024, at 10:00 am at the company's headquarters. The agenda for the meeting includes discussing and approving the minutes and decisions from the previous board meeting, as well as addressing other business and operational matters. The announcement emphasizes the company's commitment to disclosure and transparency principles. The notice is signed by Yazan S. Maragha, the Board Secretary.
Multiply Group P.J.S.C has released its financial results for the third quarter of 2024. The company is listed on the Abu Dhabi Securities Exchange under the ticker symbol MULTIPLY. Further details can be found on their website at www.multiply.ae. The announcement was made on October 29, 2024.
On 29 October 2024, a meeting of the Board of Directors of Multiply Group PJSC was held at 5:00 PM, attended by the majority of board members. During the meeting, the audited financial statements for the third quarter of 2024 were approved, and other business matters were discussed. The information was communicated to the Securities and Commodities Authority in Abu Dhabi, UAE.
Response Plus Medical Services LLC (RPM), the largest provider of pre-hospital care and emergency medical services in the region, will participate as the official Medical Partner at ADIPEC 2024 in Abu Dhabi from November 4 to 7, 2024. This event, held under the patronage of H.H. Sheikh Mohamed Bin Zayed Al Nahyan and hosted by ADNOC, is the largest gathering for the global energy industry, with over 2,200 organizations and 180,000 attendees. RPM, along with its subsidiary Prometheus Medical International, will showcase their emergency medical solutions and expertise, focusing on wellness, mental health, and technological innovations such as AI solutions and e-aircrafts. Dr. Rohil Raghavan, CEO of RPM, emphasized the importance of the event for enhancing market positioning, fostering business collaborations, and supporting the well-being and operational success of the energy sector.
Americana Restaurants International PLC, located in Abu Dhabi, UAE, informed the Abu Dhabi Securities Exchange that its Audit Committee met on October 29, 2024. During the meeting, the committee endorsed the company's consolidated financial statements for the period ending September 30, 2024. These statements are to be approved by the Board of Directors through circulation. The notification was signed by Saqib Muhammad Sabir Awan, the Secretary of the Board, with a copy sent to the Securities and Commodities Authority.
The scheduled Board of Directors meeting for Emirates Driving Company (DRIVE), initially set for Wednesday, October 30, 2024, has been postponed to Tuesday, November 5, 2024, at 12:00 PM. This change is in line with the principles of disclosure and transparency.
The National Bank of Fujairah (NBF) reported a 39.3% increase in net profit before tax, reaching AED 715 million for the first nine months of 2024, with a net profit after tax of AED 650.4 million. This growth was supported by a 13.2% increase in the balance sheet. In the third quarter of 2024, NBF achieved a net profit before tax of AED 230.1 million, marking a 27.1% rise from the same period in 2023. The bank's performance benefited from favorable market conditions, UAE government initiatives, improved impairment provisions, and cost management amidst global uncertainties. NBF maintained a cautious approach to recognizing problem accounts and reduced net impairment provisions by 16.8% compared to the previous year. The non-performing loan (NPL) ratio was 5.3%, and the provision coverage ratio was 114.6%. The asset quality improved, with the IFRS 9 stage 2 and 3 mix decreasing to 11.4%.