{"id":41682,"date":"2017-01-24T18:56:44","date_gmt":"2017-01-24T11:56:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=41682"},"modified":"2017-01-24T16:07:22","modified_gmt":"2017-01-24T09:07:22","slug":"arabtec-adopts-new-risk-management-plan-in-bid-to-cut-costs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-adopts-new-risk-management-plan-in-bid-to-cut-costs\/","title":{"rendered":"Arabtec adopts new risk management plan in bid to cut costs"},"content":{"rendered":"


\nArabtec has said that it is adopting a new risk management plan as the company continues to cut costs in the wake of a major restructure.In a statement to the Dubai Financial Market on Tuesday morning, the Arabtec chief executive Hamish Tyrwhitt said that the company had supported a new group-wide enterprise risk management plan at its board meeting on Monday.Arabtec shares were suspended on Monday as the company’s board of directors met to approve 2016 accounts. The accounts are expected to be published to the Dubai Financial Market soon.Shares in the UAE’s largest listed contractor were trading again on Tuesday, slipping 0.7 per cent in early trading before recovering to Dh1.45 by 12 noon.Last year Arabtec reported an annual net loss of Dh2.34 billion on the back of a revenue of Dh7.25bn.Arabtec has reported quarterly losses for the past two years as the company has struggled to cut huge costs acquired during a rapid expansion two years earlier.During the tenure of the company’s former chief executive Hasan Ismaik between 2012 and 2014, Arabtec expanded rapidly, announcing an ambitious list of projects around the world amid plans to become one of the world’s 10 biggest builders – an exponential jump from its global ranking of 187 in 2012.But in mid 2014 when Mr Ismaik left the company, Arabtec shares plummeted, forcing the company to get rid of hundreds of staff, including most of its senior executives.In November, Arabtec appointed the Depa chief executive Hamish Tyrwhitt as its new chief executive as the company attempted to signal that it had turned a corner.lbarnard@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Arabtec adopts new risk management plan in bid to cut costs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Arabtec has said that it is adopting a new risk management plan as the company...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-41682","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aQi","jetpack-related-posts":[{"id":41690,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-adopts-new-risk-management-plan\/","url_meta":{"origin":41682,"position":0},"title":"Arabtec adopts new risk management plan","date":"January 24, 2017","format":false,"excerpt":"\r Arabtec has said that it is adopting a new risk management plan.In a statement to the Dubai Financial Market on Tuesday morning, the Arabtec chief executive Hamish Tyrwhitt said that the company had supported a new group-wide enterprise risk management plan at its board meeting on Monday.Arabtec shares were\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-reports-dh46m-loss-but-dubai-contractors-financial-performance-improving\/","url_meta":{"origin":41682,"position":1},"title":"Arabtec reports Dh46m loss, but Dubai contractor's financial performance improving","date":"May 15, 2016","format":false,"excerpt":"\r Dubai contractor Arabtec reported a narrowing first-quarter net loss on Sunday as revenue rose.The firm had reported losses in the preceding five quarters, which it blamed on increased costs and tough market conditions. In April, its chairman said Arabtec could break even this year and should return to profit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6444,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-continue-dizzying-rise-in-dubai-after-hasan-ismaik-increases-stake\/","url_meta":{"origin":41682,"position":2},"title":"Arabtec shares continue dizzying rise in Dubai after Hasan Ismaik increases stake","date":"March 1, 2016","format":false,"excerpt":"\r \r Arabtec shares continued their dizzying rise on Tuesday morning, after former chief executive Hassan Ismaik increased his stake in the company to 11.91 per cent on Monday.The Dubai construction firm's shares rose by nearly 12 per cent at the open before paring gains slightly, trading up 7.64 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43353,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-announces-second-board-meeting-of-the-year\/","url_meta":{"origin":41682,"position":3},"title":"Arabtec announces second board meeting of the year","date":"February 8, 2017","format":false,"excerpt":"\r Arabtec has announced that it will be holding its second board meeting of the year on February 12 to discuss its 2016 results, the UAE's largest listed construction company said in a statement to the Dubai Financial Market this morning. Arabtec's shares were suspended on the DFM on January\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13138,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-looks-to-shore-up-balance-sheet-as-dubai-contractors-losses-narrow\/","url_meta":{"origin":41682,"position":4},"title":"Arabtec looks to shore up balance sheet as Dubai contractor's losses narrow","date":"May 15, 2016","format":false,"excerpt":"\r The contractor Arabtec has said that it is \"looking at ways to enhance its capital structure\" after posting its sixth successive quarterly loss on Sunday.The company said it \"is currently engaged in discussions with Aabar, its largest shareholder, in respect of potential options for cooperation and continues to remain\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27171,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-trading-volumes-for-arabtec-stock-as-new-shareholder-is-revealed\/","url_meta":{"origin":41682,"position":5},"title":"High trading volumes for Arabtec stock as new shareholder is revealed","date":"September 25, 2016","format":false,"excerpt":"\r Tasameem Real Estate, based in Abu Dhabi, has become the second largest shareholder in Arabtec Holding, according to data on Dubai's stock exchange, replacing the company's former chief executive Hassan Ismaik.Tasameem, an investment company owned by the UAE's Deputy Prime Minister Sheikh Mansour bin Zayed, was listed on Sunday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41682"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=41682"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41682\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=41682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=41682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=41682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}