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Corporate Governance

Arabtec Holding PJSC and its Subsidiaries (the "Group") are committed to ensuring good corporate governance. The Group believes that good corporate governance enhances shareholder value.

Effective corporate governance starts with a Board of Directors that is engaged, committed and effective. Our Board establishes, maintains, and monitors standards and policies for ethics, business practices, and compliance that span the Group. Working with management, the Board sets strategic business objectives, ensures that the Group has leadership that is dynamic and responsive, tracks performance, and institutes strong financial controls. We believe in strengthening investor confidence and creating long-term stakeholder value.   

Corporate Governance:

  • Establish and preserve management accountability to the shareholders by appropriately distributing rights and responsibilities among Board Members and managers.
  • Provide a structure through which management and the Board set objectives and monitor performance.
  • Strengthen and safeguard our culture of business integrity and responsible business practices.
  •  Encourage the efficient use of resources that requires the accountability for stewardship of those resources. 

Principles and Guidelines

Arabtec Holding’s corporate governance principles include honesty, trust and integrity, openness, performance orientation, responsibility and accountability, mutual respect and commitment to the organization. The Board Members and management of Arabtec Holding have developed a model of governance that aligns the values of all the corporate participants that include:

  • Rights and equitable treatment of shareholders.
  • Interests of other stakeholders.
  • Role and responsibilities of the Board.
  • Integrity and ethical behaviour.
  • Disclosure and transparency.

Rights and equitable treatment of shareholders: Arabtec Holding respects the rights of shareholders and helps shareholders to exercise those rights. We effectively communicate information that is understandable and accessible and encourage shareholders to participate in the general meetings.

Interests of other stakeholders: Arabtec Holding recognizes that it has legal and other obligations to all legitimate stakeholders.

Roles and responsibilities of the board: Arabtec Holding recognizes that the Board of Directors needs a range of skills and understanding to be able to deal with various business issues and have the ability to review and challenge management performance. It needs to be of sufficient size and have an appropriate level of commitment and independent Board Members to fulfill its responsibilities and duties.

Integrity and ethical behaviour: Ethical and responsible decision-making is not only important for public relations, but it is also a necessary element in risk management and avoiding lawsuits. Arabtec Holding has developed a code of conduct for it's Board Members that promotes ethical and responsible decision-making.

Disclosure and transparency: Arabtec Holding consistently clarifies and makes publicly known the roles and responsibilities of the Board and management to provide shareholders with a level of accountability. Arabtec Holding implements procedures to independently verify and safeguard the integrity of the company’s financial reporting. Disclosure of material matters concerning Arabtec Holding is timely and balanced to ensure that all investors have access to clear and factual information. 

Social Responsibility

Arabtec Holding embraces full responsibility for the impact of our activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. 

Ethics Policy

Arabtec has internal policies pertaining to the ethical conduct of its employees. They identify the Group's expectations of workers and offer guidance on handling some of the more common ethical problems that arise in the course of doing business. Having such a policy will leads to greater ethical awareness, consistency in application, and the avoidance of Corporate disasters. Arabtec Holding’s ethics policies include treating everyone fairly with mutual respect regardless of race, religion, gender and origin. 

Environment Performance

Sustainability Principles that follow these guidelines:

  • Reduce dependence upon fossil fuels, underground metals and minerals.
  • Reduce dependence upon synthetic chemicals and other unnatural substances.
  • Reduce encroachment upon nature.
  • Meet human needs fairly and efficiently.

Role of the Board

Shareholders elect the Board of Directors to oversee management and to assure that shareholder long-term interests are served. Through oversight, review, and counsel, the Board of Directors establishes and promotes Arabtec’s business and organizational objectives. The Board oversees the company’s business affairs and integrity, works with management to determine the company’s mission and long-term strategy, performs the annual CEO evaluation, oversees CEO succession planning, oversees internal controls over financial reporting, and assesses company risks and strategies for risk mitigation. 

Board Committees

The Board has three committees: an Audit Committee and, a Nomination and Remuneration Committee and a strategy Committee.Each committee is responsible for the review and oversight of company activities in the areas designated in its charter. 

Internal Control and Internal Auditing

Internal control procedures are policies and processes implemented by Arabtec Holding’s Board of Directors, the Audit Committee, management and other personnel to provide reasonable assurance that Arabtec Holding is achieving its objectives related to reliable financial reporting, operating efficiency and compliance with laws and regulations. Arabtec Holding has an Internal Audit Department that reports to the Audit Committee. Its members are personnel who consistently test the design and implementation of its internal control procedures, the integrity of the data and the reliability of its reporting.  

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