Latest news with #andGovernance
Observer
5 days ago
- Business
- Observer
Omran Group pulls in RO 156m in FDI in 2024
The Oman Tourism Development Company (Omran Group) has announced strong financial and operational results, underscoring the Group's sustained efforts and corporate excellence in advancing tourism development and supporting sustainable economic growth in the Sultanate of Oman, in close collaboration with key stakeholders. In 2024, the Group recorded a net profit of RO 25.2 million and total revenues exceeding RO 58.3 million, reflecting operational efficiency and the high standards of excellence embraced across its business operations. These achievements were presented during the Group's recent Board of Directors meeting, where the Board reaffirmed its continued commitment to reinforcing the Group's role in advancing economic diversification and amplifying its impact as a key catalyst for tourism development and investment in the Sultanate. Demonstrating its ability to attract high-quality investments, Omran Group secured over RO 156 million in Foreign Direct Investment (FDI) during 2024. This achievement aligns with Oman Vision 2040 and the national efforts to boost FDI inflows and enhance the contribution of various economic sectors to the GDP. In the hospitality sector, the Group continued to demonstrate operational excellence, welcoming 820,365 guests across its hotel portfolio in 2024 — a 6 per cent increase compared to the previous year. The portfolio achieved an average occupancy rate of 45 per cent, marking a 2.6 per cent increase year-on-year. A major milestone was achieved with the official opening of JW Marriott Muscat, further enriching the luxury hospitality landscape in the Sultanate of Oman. As part of its efforts to position Oman as a premier luxury tourism destination on the global map and to attract the world's leading hospitality brands, Omran Group announced several strategic projects, most notably the Middle East's first Club Med Resort that will be developed in Musandam, and the signing of a strategic partnership with Santani Wellness Resorts to introduce wellness tourism in Al Dakhiliyah Governorate. Reinforcing its commitment to sustainability and local value creation, the Group achieved a 40 per cent In-Country Value Index in 2024, with total spending exceeding RO 19 million in support of SMEs, which accounted for 34.7% of overall procurement spending. Furthermore, the Group created 370 new job opportunities for local talents, achieving an Omanisation rate of 94% within Oman Tourism Development Company SAOC and 53 per cent across the Group, highlighting its dedication to empowering national talent and supporting the local economy. In line with its vision to enhance corporate governance practices, Omran Group launched its Environmental, Social, and Governance (ESG) Framework during the year, reinforcing its commitment to global sustainability standards, transparency, and excellence across all its operations and projects. The positive results achieved by Omran Group in 2024 reaffirm its leading role as a catalyst for tourism development in the Sultanate of Oman. Through pioneering projects, strategic partnerships, and innovative initiatives, the Group continues to strengthen its position and contribute to Oman's journey towards a diversified and sustainable economy
Observer
5 days ago
- Business
- Observer
OMRAN Group achieves robust 2024 results, reinforcing its role in tourism development
Muscat: The Oman Tourism Development Company (OMRAN Group) has announced strong financial and operational results, underscoring the Group's sustained efforts and corporate excellence in advancing tourism development and supporting sustainable economic growth in the Sultanate of Oman, in close collaboration with key stakeholders. In 2024, the Group recorded a net profit of RO 25.2 million and total revenues exceeding RO 58.3 million, reflecting operational efficiency and the high standards of excellence embraced across its business operations. These achievements were presented during the Group's recent Board of Directors meeting, where the Board reaffirmed its continued commitment to reinforcing the Group's role in advancing economic diversification and amplifying its impact as a key catalyst for tourism development and investment in the Sultanate. Demonstrating its ability to attract high-quality investments, OMRAN Group secured over RO 156 million in Foreign Direct Investment (FDI) during 2024. This achievement aligns with Oman Vision 2040 and the national efforts to boost FDI inflows and enhance the contribution of various economic sectors to the GDP. In the hospitality sector, the Group continued to demonstrate operational excellence, welcoming 820,365 guests across its hotel portfolio in 2024 — a 6% increase compared to the previous year. The portfolio achieved an average occupancy rate of 45%, marking a 2.6% increase year-on-year. A major milestone was achieved with the official opening of JW Marriott Muscat, further enriching the luxury hospitality landscape in the Sultanate of Oman. As part of its efforts to position Oman as a premier luxury tourism destination on the global map and to attract the world's leading hospitality brands, OMRAN Group announced several strategic projects, most notably the Middle East's first Club Med Resort that will be developed in Musandam, and the signing of a strategic partnership with Santani Wellness Resorts to introduce wellness tourism in Al Dakhiliyah Governorate. Reinforcing its commitment to sustainability and local value creation, the Group achieved a 40% In-Country Value Index in 2024, with total spending exceeding RO 19 million in support of SMEs, which accounted for 34.7% of overall procurement spending. Furthermore, the Group created 370 new job opportunities for local talents, achieving an Omanisation rate of 94% within Oman Tourism Development Company SAOC and 53% across the Group, highlighting its dedication to empowering national talent and supporting the local economy. In line with its vision to enhance corporate governance practices, OMRAN Group launched its Environmental, Social, and Governance (ESG) Framework during the year, reinforcing its commitment to global sustainability standards, transparency, and excellence across all its operations and projects. The positive results achieved by OMRAN Group in 2024 reaffirm its leading role as a catalyst for tourism development in the Sultanate of Oman. Through pioneering projects, strategic partnerships, and innovative initiatives, the Group continues to strengthen its position and contribute to Oman's journey towards a diversified and sustainable economy.
Business Standard
26-05-2025
- Business
- Business Standard
Great Eastern Shipping Company receives ESG rating from SES ESG Research
Great Eastern Shipping Company announced that SES ESG Research (SES), a SEBI registered ESG Rating provider, has vide its Environmental, Social, and Governance (ESG) report assigned an overall ESG score of 67.2 to the Company for FY 2023-24. The Company has not engaged SES for ESG Rating. SES has independently prepared the report based on data of the Company pertaining to FY 2023-24 available in public domain.
Barnama
26-05-2025
- Business
- Barnama
Accountants Play Critical Role In Sustainability, Says YB Senator Datuk Seri Amir Hamzah Azizan, Minister Of Finance II At MIA International Accountants Conference 2025
KUALA LUMPUR, May 26 (Bernama) -- As sustainability becomes central to business strategy, accountants are increasingly vital in embedding Environmental, Social, and Governance (ESG) principles into corporate decision-making and reporting, said YB Senator Datuk Seri Amir Hamzah Azizan, Minister of Finance II, at the MIA International Accountants Conference 2025 (MIA Conference 2025). Datuk Seri Amir Hamzah Azizan said in his keynote address, the accounting profession's advocacy for sustainability aligns closely with national priorities, such as the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030), which aim to accelerate green growth and industrial transformation.
Korea Herald
23-05-2025
- Business
- Korea Herald
SANY 2024 ESG Report: Promoting High-Quality Development Driven by Green Innovation
BEIJING, May 21, 2025 /PRNewswire/ -- SANY Heavy Industry (SANY) has published its 2024 Environmental, Social, and Governance (ESG) Report (the "Report") disclosing the company's breakthrough achievements in the fields of clean energy development, green manufacturing and social responsibility practices. In 2024, SANY invested 520 million yuan (USD72.12 million) in environmental protection, fully committed to promote high-quality development of the industry powered by green innovation. "In the future, SANY plans to continuously boost investment in clean technology research and development, manufacturing facility upgrades and market expansion, to further expand clean energy product lines and efficient energy utilization solutions. We will continue our efforts to bring more value to our customers and support the green transformation with new quality productive forces," said Mr. Xiang Wenbo, Chairman of SANY Heavy Industry. Advancing clean energy products and green manufacturing In 2024, SANY implemented a wide range of energy-saving and consumption reduction projects. The whole-process carbon reduction practices and emission reduction efforts have been significant: SANY plans to continue strengthen clean technology R&D and production facility upgrades in the future with the goal of realizing more efficient energy utilization solutions. Prioritizing health and safety, focusing on employee development and social welfare SANY is committed to supporting all employees equally. In 2024, 89% of the group's overseas employees are local hires, and female accounted for 12% of the executive management. The 550-million-yuan (USD76.23 million) employee stock ownership plan launched in 2024 benefited 6,241 people, and throughout the year SANY conducted 485 training sessions which were participated by 93% of employees. In 2024, SANY organized training on special equipment safety and fire prevention, with a accumulated total of 176,441 participants in health and safety trainings. Its annual injury rate was 1.78‰ and the number of occupational disease injuries was zero. In addition, SANY is actively investing in social welfare. It donated about 18.16 million yuan (USD2.52 million) to social public welfare funds with cumulative investment exceeding 340 million yuan (USD47.16 million). It carried out 143 public welfare activities covering education, disaster relief and rural revitalization. ESG strategy safeguarded by digital intelligence In 2024, SANY optimized its ESG governance structure at the board level and held four shareholders' meetings and seven board of directors' meetings with a 100% attendance rate. It has built an intelligent supervision and review platform that released 4,568 batches of early warning data and completed 3,754 verifications to realize full-process digital and intelligent control. "We accelerated our global layout in 2024 and leveraged digital technologies to promote intelligent manufacturing and transformation, actively research and develop new energy equipment and low-carbon products to support global sustainable development," noted Mr. Xiang Wenbo. "Looking ahead, we aim to lead new productivity development including green and intelligent technologies and contribute to reaching China's 'Dual Carbon' goals and global climate actions."
