Paris - Abu Dhabi, the 20th of July 2022: – 18h00
AD Ports Group Awarded Global Financial Quality Certificate
MSI 20000 by COFICERT
The certification is the first for an organisation within Ports, Industrial Zones and Logistics Services in the Middle East
COFICERT announces that AD Ports Group (ADX: ADPORTS) has been awarded the financial quality certificate MSI 20000, the global standard allocated to the financial governance of companies, making it the first organisation operating within ports, industrial zones and logistics in the Middle East to obtain this certification.
AD Ports Group, trading on the Abu Dhabi Securities Exchange (ADX) as ADPORTS contributes 21 percent to Abu Dhabi’s non-oil growth. The Group raised AED 4 billion through ($1billion) share sales earlier this year to boost its growth and earlier in 2021 successfully issued a US$ 1 billion 10 year bonds under a Euro Medium Term Note Programme jointly listed on the London Stock Exchange (LSE) and Abu Dhabi Securities Exchange (ADX). AD Ports Group is rated A+ by S&P and A+’ Affirmed – Outlook Stable by Fitch.
The certificate was awarded by the French certification body COFICERT, the first specialised and dedicated organisation for the certification of the financial and extra-financial standards. The MSI 20000 standard is a comprehensive measurement and evaluation model of financial governance based on sectorial normative benchmarking and focuses on two main areas: financial solidity and financial performance. Globally recognised as a reliable tool, the standard MSI 20000 constitutes a valuation instrument for its beneficiary and provides a competitive advantage in the market.
AD Ports Group was awarded the certificate during a ceremony held in the presence of Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group and Mr. Maher Khader, Regional Executive Director of Talal Abu-Ghazaleh Consulting. The MSI 20000 certification was handled by TAG-Consulting in its capacity as the exclusive partner for the MSI 20000 standard in the Middle East.
The evaluation results revealed that AD Ports Group achieved outstanding ratings when compared with the MSI 20000 reference benchmarks within the ports, industrial zones and logistics services sectors, which include the best companies operating in these sectors in the world. Its performance and capabilities allowed AD Ports Group to outperform these organisations across several criteria such as profitability, risk management, human resources, and asset management.
Martin Aarup, Group Chief Financial Officer - AD Ports Group, said: “We are proud to become the first ports, industrial zones, and logistics operator in the Middle East to obtain the MSI 20000 financial quality certificate which is a result of the Group’s progress in terms of financial strategies, and reflects our commitment to the continuous improvement of the financial management system. With this achievement, AD Ports Group joins the very selective list of the best companies in the world recognised for the quality of their financial governance.AD Ports Group was awarded the certificate after a comprehensive evaluation of our financial performance over the past five years, and comparing it with global normative performance indicators. The Group’s decision to take up the participation despite the challenges posed by COVID-19, only proves the soundness of our financial performance and capability to manage the ongoing industry rebound.”
About AD Ports Group
Established in 2006, AD Ports Group today serves as the region’s premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.
Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group’s portfolio comprises 10 ports and terminals and more than 550 square kilometres of economic zones within KIZAD and ZonesCorp, the largest integrated trade, logistics, and industrial business grouping in the Middle East.
COFICERT is the first specialized dedicated certification body to the certification of the financial and extra-financial standards. The organization gathers national and international experts around standards and certification, related to Finance: such as financial governance, anti-money laundry, counter financing of terrorism, corporate social responsibility.
MSI 20000 STANDARD
MSI 20000 is the international standard dedicated to the evaluation of the companies’ financial governance, through a sectorial approach and strict principles, based on many evaluation criteria and performance indicators using normative benchmarking. The standard was developed in 2008, in the aftermath of the subprime crises, by the French, non-government organization MSI Observatory, by top leading experts in the field of finance. It was then tested and adapted over several years before being adopted and distributed by the top leading actors and currently distributed in close to 50 countries.
TALAL ABU-GHAZALEH & CO. CONSULTING (TAG-CONSULT)
TAG-Consult operates out of the Talal Abu-Ghazaleh Global offices, which has more than 100 offices in the Middle East, Africa, and the world and representative offices spread in Asia, Europe, North America, and Latin America. It also operates through a network of experts and specialists to offer the best management consulting services to local and international companies and institutions, in accordance with the best practices in this field.
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