Board of Directors's Report

Dear shareholders ,,,
Our honored Guest from Khartoum Exchange Market and The Commercial Registrar ,,,
Ladies and gentlemen ,,,
I am pleased to welcome you to MZK fifth annual meeting and thank you for attending this meeting which we hope will be successful.
In this meeting , the fifth general meeting , we will present the work we have done over the past year so as to discuss with you to find good solutions to the disadvantages that facing our company and how to develop future performance .
This year, the company began to recover its wellness after lot of works that we have done , the most important one is the renewal of central air conditioning system , we have imported a complete new system suitable for Sudan weather and the installation has been completed , it is now working efficiently .this matter make our clients return back after an absence of more than three consecutive years .
We also have done a huge rehabilitation work for all cooling system for refrigerators storage, as well as the rehabilitation of all the other machineries, starting with elevators and escalators.
Ladies and gentlemen...
With importing machineries and equipments from abroad in addition to contract with skilled professionals from abroad, too, as well as the surveillance system to be coincides with the latest global developments We also have imported equipments and modern computer systems, for accounting, stores, and human resources . and purchasing departments from Saudi Arabia so as to be in line with recent developments in the countries around us, rather than relying on the system of foreign languages other than Arabic.
With respect to the maintenance and rehabilitation of the building and the sanitation system, we have large operations have targeted all zones and areas of the building, we brought a skilled technicians as well as spare parts imported, and to reduce the expenses, we are choosing lower costs of maintenance materials .
Ladies and gentlemen...
As well as the reduction of the employment to the minimum without affecting the course of action, in addition to this we have stopped Cleaning Companies for their high cleaning costs and we have We established a special department dealing with all types of cleaning which you can see its work within the halls of the center.
And as a reduction of the administrative expenses we cancelled more than 40 foreign posts and in line with the policy to take advantage of local qualifications rather than foreign .
The administration succeeded in convincing the authorities in the Tax Chamber to reduce taxes for prior years, which exceeded its 11 billion pounds, where it was approved to reduce and already we started paying monthly installments for one year , And, with regard to the rehabilitation of the hypermarkets we hand him over to specialist companies to seek for finance for all operations of so as to bring all kinds of goods from home and abroad to find the customer needs all under one roof, this activity is very clear to anyone entering the market these days.
Ladies and gentlemen...
Despite what was said about the modernization, rehabilitation and maintenance and changes, the company's loss fell this year for about 50 percent, with the amount of loss in the previous year.
Where the loss in the previous year, the amount of 9,698,052 SDG and this year fell to 5,517,268 SDG, according to the efforts of the administration to limit the expenses only for the necessary work and by reducing the minimum Insusceptible work at the company .
You know that the main and the first and only source of the income flow of the company is the rents, which were badly affected in the past years due to various economic problems as well as stop of central system of air conditioners for more than two years , this cause many problem to tenants , part of them left and part of them stopped their activities totally , we do some exemption to part of them and others have taken legal action against them now things are back to normal and the proportion of rented premises compared to free sites are increased and the good reputation of the rental market returned within the Center, where people began to arrive from within and outside the Sudan in search of a place within the Center and hope that next year will be filled to the stability of tenants and enable them to fulfill their obligations .
Finally …
It is through what we put forward in our letter is the result of the reforms, rehabilitation and the changes that we expect the status in the next year to become best for all and to change losses to profits according to the reading of the indicators that show the positive way that we are following now ..
With thanks and appreciation….
Chairman of the Board of Directors




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