Chairman's Message

Allah's peace, mercy and blessings be upon you,

I would like to warmly welcome you on behalf of the Board of Directors and the executive management of Pinnacle Project Asset Management. Further, we extend thanks to you for following up the Company's business, financial statements and disclosures as well as the valuable trust placed in us by our clients and partners. Pinnacle Project Asset Management achieved notable growth and development in its performance over the past years. The Company has proven its ability to make an exceptional progress in recovery whereby it reversed the accumulated losses, managed to make dividend distributions to the shareholders and recorded retained earnings after the losses incurred by the Company during the global financial crisis just like most investment companies. These achievements have been attained in a market that is still suffering adverse consequences of the global financial crisis and maintains slow recovery hindered by various obstacles including European sovereign debt crisis, which also began to retreat. Therefore, performance has a close link to the Company's strategic plan, which is intended to develop the assets; acquire cash-generating operating assets that would realize lucrative profits on investments; examine market risks and ensure optimal allocation of the Company's investment portfolio. The Company has optimistic outlook for the market, which was based on different economic and legislative indicators globally, regionally and locally.

It has been an exciting experience to witness the remarkable economic development Saudi Arabia. We are lucky to live in one of the world’s fastest growing economies evidenced by our young nation’s diversifying markets and infrastructure development. Our organisation has been fortunate enough to have actively participated in contributing to this growth throughout the four decades of its operation. It is our every intention to avidly continue our contribution to the country’s economy. Since our modest beginnings in 1980, we have stayed true to our mission of delivering the finest quality financial services and products in whichever sector we have been involved with. We believe the success and growth of our business can be attributed to consistency in terms of standards and policies and to the efforts of our supportive local and international partners. Furthermore, we have a very selective recruitment process that ensures our highly qualified staff and management are able to perform in accordance with our international standards.

Over the years, our professional belief in ethics and quality has evolved into a set of corporate standards and practices which we use as our benchmark for excellence. This attitude of providing the highest level of quality in all of our endeavors has paid-off at every step of the way. Today, we pride ourselves on being a trustworthy household name both in Saudi Arabia and beyond. As a diversified group of establishments that maintains rigorous international standards in its many products and services we are in a unique position to capitalise on Saudi Arabia's growing global trade. Our numerous renowned international partners are proof of our international business success. Our continued operational expansion is regularly measured to ensure that pace is kept with the country’s giant economic strides. Aided by our professional standards, thoroughly tested policies and with the support of over 65 dedicated team members we shall continue to move forward in step with the major developments that are rapidly taking place at home and around the globe. With this, there is no doubt that Bahrain will continue moving steadily towards becoming one of the region’s main economic powers. We are as determined as ever to be part of our country’s promising future.

Almutlaq Mohammed Hussain Ahmed
Chairman
Pinnacle Project Asset Management