Board of Directors’ Remuneration The company has allocated Board remuneration and sitting fees in accordance with the details outlined in the table below: Name of Director Sitting Fees (OMR) Remuneration (OMR) Total (OMR) Eng. Abdul Rahman Salim Rashid Al Hatmi 3,000 20,000 23,000 Mr. Muhsin Abdul Majeed Raja 3,600 20,000 23,600 Mr. Selim Ismail Hanafi Khallaf 3,600 20,000 23,600 Mr. Peder Sondergaard 3,000 20,000 23,000 Mr. David Ivor Paul Stockley 3,600 20,000 23,600 Total 16,800 100,000 116,800
Compliance Disclosure The company was not subjected to any penalties, sanctions, or regulatory restrictions during the financial year. Out of 18 policies and guidelines issued by the Oman Investment Authority, Asyad Shipping Company SAOG fully complies with 14, and partially complies with 4. The Board and Executive Management are committed to taking necessary measures to ensure full compliance with related regulatory provisions and recommendations. In 2024, the company made significant progress in enhancing its governance framework by introducing new governance policies and integrating them into internal processes. These initiatives reflect our dedication to best practices in governance and alignment with the highest standards of accountability and transparency. As part of this commitment, the company has developed key policies, including the Dividend Policy, Insider Trading Policy, and Disclosure Policy, to comply with SAOG requirements and further reinforce adherence to regulatory standards. Environmental, Social, and Governance (ESG) Initiatives Asyad Shipping Company SAOG continues to embed environmental, social, and governance (ESG) principles and sustainability into its core business strategies. In alignment with international standards, and relevant regulatory guidelines, the company aims to deliver long-term value to customers, stakeholders, and society. ESG performance is reported annually through a consolidated group sustainability report and published via official communication channels. Corporate Social Responsibility Driven by its commitment to corporate social responsibility, Asyad Shipping supported three (3) social initiatives in 2024, with a total contribution of OMR 6,175. These projects were designed to generate sustainable value and support community development within Oman.
Statutory Auditors During the Annual General Meeting, shareholders approved the appointment of KPMG LLC as the statutory auditor a three-year term (2022–2024).
Audit fees for 2023 and 2024 are listed as follows: Fees to the Statutory Auditors
2024 (OMR) 66,150.00
2023 (OMR) 68,523.47
Statutory audit
Other Assurance Services
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-
Tax, VAT And Advisory Services
3,307.50
3,426.17
Other Services
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Communication Channels At Asyad Shipping Company SAOG, we maintain a high transparency standards by ensuring consistent and effective communication with our stakeholders and investors, while implementing best practices in corporate communication and disclosure. The company’s website serves as the primary platform for company disclosure, including audited financial reports, annual reports, governance report and other. Additionally, the company leverages traditional media outlets such as official newspapers, radio, television, and other communication channels to engage with the wider public and ensure timely dissemination of relevant information.
46 | Asyad Shipping Annual Report 2024
Asyad Shipping Annual Report 2024 | 47
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