A Message From The Chairman

We shall be starting very soon a New Year obstructed with political, military and social turmoil that keep us uncertain about any secured future in the Middle East.

Every sector worldwide has been disintegrated causing a blast of peace and damp economy. All challenges supported by adequate visions have been squandered, conducing to the drop in the economy growth worldwide, surely reflecting negatively on our Lebanese economy. We are as well experiencing a strong distortion in the international finance systems and structures.

We are watching the third financial world war distracting our attention from fake finance proposals by the financials authorities.

The restlessness in the Middle East is strewed with too many kinks alerting the abyss in our future destiny.

Lebanon today is the center of this seismic environment leading to a total uncertainty.

Our motto didn’t change in spite of the contradictions encountered:

Reach Higher, thus see Further.

We shall continue to expand in all our activities. Our tenacity, devotion, dedication, determination, and endurance maintain our growth on safe grounds.

Our expenses will be reduced this year in order to reach better debt level.

We adapted ourselves to the competition with the globalization and acknowledge the market perception.

We expect the Lebanese public sector to start to fill up the gap in their treasury with the extraction of natural resources contributing to alleviate our country’s fiscal conundrum and keep away from lingering uncertain ties. It will be an opportunity to begin moving our economy out of an up-and-down cycle ties to local and geopolitics, tethered to oil prices.

We are now called upon to try to create a whole different mind-set. Although we are in a pitched battle between the present array of resources and decisions and the future struggling to reach our goal.

In summary, 2017 has been a severe year for the Lebanese economy with an increase of the private debt as well the public one.

Many important contracts has been differed for the year 2018, leaving our revenue dropping by around 10% compared to 2016.

We expect 2018 to be more generous in terms of peace and political hegemony for Lebanon.

• The medical division has expanded the range of their equipment and products securing the lee for a higher revenue with improved profits.
• Our finance fund invigorated the business with credit conditions that placed us at a higher stance towards our competitors with a complete turnkey service.
• The luxury division has reached acceptable results in spite of the absence of tourists and the gloomy geo-political situation.
• The I.T has improved their services and acquired more customers.
• The Chemical and raw materials activities have improved in quality and production growth.

Our business abroad has suffered from the political problems.

We are proud of our different teams. Going through this year’s struggles and facing all issues together has made communication and loyalty bases much stronger.

Our manpower worked with full efficiency and grew their talent with training and tough market experiences.

We sense the high motivation level of our sale forces and “entrepreneurs” despite the economical vicissitudes.

With the implementation of our reviewed governance and business conduct, with full respect to compliance, we remain very compatible with an efficient team work who is, as always, working with love, passion, dedication, commitment and self-motivation.

A farewell to economic miracles keeps us pragmatic and objective.

Jean F. Tamer