Al-Darwish, along with other officials, announce the Qatar Today Business Excellence Awards to be presented next month.
In the first of its kind in the country, the 10 best performers in the Qatar Stock Exchange (QSE) will be announced next month; a move that ought to enhance the transparency in Qatar’s capital market, which is now witnessing a fast-paced transformation.
Qatar Today, the oldest English business and news magazine in the country, yesterday announced its Business Excellence Awards, to be held on June 16 to disclose the names of 10 best performers.
Moreover, the magazine, in association with the Qatar Chamber, will also felicitate prominent companies and individuals who have excelled in the fields of business by aligning their company’s goals with the National Vision 2030.
“Qatar is continuing to invest in infrastructure with planned spending in the region of $205bn mainly on roads, stadia and rail projects. Despite the recent drop in oil prices, Qatar is still expected to continue with the majority of its projects as planned,” Yousef al-Darwish, publisher and editor-in-chief of Oryx Advertising Company, the parent company of Qatar Today, said in the presence of Qatar Chamber director general Remy Rowhani.
The top 10 companies would be selected on the basis of their performance over the last five years and methodology would centre around seven parameters such as share price growth, dividend yield and liquidity, each of which would have 20% weightage; as well as net profit, total revenue, return on equity and assets, each with 10% weightage, said Camille Raphael, general manager of Al Shall Economic Services, which is the knowledge partner for the awards.
“We have tried to balance the analysis time required with practicality and relevance to come up with a fair and useful assessment methodology for the Qatar Stock Exchange’s top 10 performers,” he said.
The awards are an organic continuation of the process Qatar Today has been following for nine years rating the top ten companies at the QSE and publishing an annual list ‘QT Top 10’.
Highlighting that the role of the Qatar Chamber is to encourage the business community in the country and that it takes this role “diligently” through a multi-pronged approach, Rowhani said these awards are one way to encourage and promote the businesses that have been actively participating in the Qatari environment.
“Qatar Inc has shown resilience, innovation and foresight to grow in spite of several challenges and many of the top companies have grown their net worth and given remarkable returns to shareholders,” according to Qatar Today managing editor Sindhu Nair.
