Kuwait - 27 September 2020: Kuwait Telecommunications Company (stc), a world-class digital leader providing innovative services and platforms to customers, enabling the digital transformation in Kuwait, announced that it won the “Leading Corporate for Investor Relations – Kuwait 2020” category. Additionally, the Company was ranked amongst the top 5 in the Middle East during the Middle East Investor Relations Association (MEIRA) Annual Conference and Awards ceremony held on the 22nd and 23rd of September 2020.
In its statement, stc expressed that CEO, engineer Maziad Bin Nasser Alharbi, was nominated amongst the top 5 CEOs for Investor Relations in the Middle East for 2020 while the Company’s CFO, Mohammed Bin Abdulmohsen Al Assaf was nominated amongst the top 5 CFOs for Investor Relations in the Middle East for 2020. On the other hand, stc Investor Relations General Manager, Wassim M. El Hayek, was recognized during the MEIRA awards as “Best Investor Relations Professional in Kuwait for 2020”.
The MEIRA Annual Conference and Awards is considered the largest event to cover best Investor Relations practices in the MENA region, demonstrating the importance of incorporating transparency and corporate governance practices in the Investor Relations functions of listed companies. The event honors and awards each of the leading companies, investor relations professionals, CEOs and CFOs who demonstrate dedication to applying the highest professional standards in investor relations.
On this occasion, engineer Maziad Bin Nasser Alharbi, CEO of stc, said, “Being a leader in the telecom industry and a pioneer in providing the digital transformation services in the Middle East, stc is keen on applying the best practices and professional standards across all company functions in order to support its employees in achieving the optimal level of operational activities. To achieve its 2020 corporate strategy, which focused on building strategic partnerships in the industry, stc not only considered incorporating the industry’s best practices, but also made sure to maintain the highest level of transparency with current and potential investors, while applying the corporate governance principles across all company activities.”
Alharbi pointed out that stc is amongst the top companies in Kuwait, and one of the leading in the region in terms of investor relations activities. This illustrates the executive management’s and Investor Relations Department’s leading role in stc IR activities, which meets global best practices within this area. In addition, the Company was one of the best performing listed companies during the pandemic, demonstrating the great efforts of stc’s IR team in fulfilling the needs of the investment community in an efficient, transparent, and timely manner.
The achievements of the IR Department reflect the significant role the department has played in implementing the corporate governance framework at stc, which adheres to Kuwait’s regulatory bodies’ rules and regulations in order to ensure a smooth flow of information with our shareholders and investment community.
Alharbi added, “Throughout the pandemic, stc proved its ability to overcome economic challenges and potential risks by leveraging its digital platforms and communication channels to serve the investment community and shareholders virtually. Thereby, stc was ranked amongst the top 10 Best Digital IR companies in the Middle East for 2020. During the period of uncertainty, stc’s Investor Relations team ensured the investment community was fully informed with the latest developments as well as corporate responses taken by the company to maintain its viability.”
Alharbi concluded, “At stc, we are open to providing the investment community with information about our market position, competitive advantages, strategy, as well as financial and operational performance. Consequently, stc’s prudent management was able to maintain effective communication with stakeholders with the utmost transparency throughout the year, which enhanced their confidence while earning their trust and support.”