DOHA: Sheikh Saoud bin Abdurrahman Al Thani will be the new Chairman of the Board of Directors of Woqod (Qatar Fuel Company), and Hussain Mohammaed Al Ishaq, present member of the board, will be the new Vice Chairman and Managing Director, the outgoing Chairman of Woqod Abdullah bin Hamad Al Attiyah announced yesterday.
Sheikh Saud is now a senior executive at Qatar Petroleum International. Mohamed Nasser Al Hajri will also join as new member of the board. The other four members on the board, all representing the private sector, are: Nasser Sultan Al Hemaidi, Sheikh Saoud Khalid Al Thani, Mohamed Al Saad and A Rahman Saad Al Shathri.
Woqod yesterday held its Ordinary Annual General Meeting and the Board of Directors approved the distribution of cash dividends of QR649,687,500, according to a rate of 100 percent of the value of the paid-up nominal capital, that is, QR10 per share, in addition to 30 percent bonus shares, meaning three shares per 10 outstanding shares. Woqod earned a full-year net profit of QR1.21bn last year, up 5.75 percent on 2012.
The company plans to inaugurate the first of the four new vehicle technical inspection centres (Fahes) at Wadi Al Banaat next month, the outgoing Vice-chairman and Managing Director, Mohamed Khalifa Turki Al Sobai told reporters. “The centre is ready, and the Traffic Department is working to connect the facility with IT related services, which will be inaugurated by the next month,” Al Sobai said. Source: The Peninsula