|09 February, 2020

Bahrain's Kanoo Group plans to change legal structure with the time

Plans to turn Yusuf bin Ahmed Kanoo Group of Companies into a shareholding company during the coming five years

Traders chat during early hours after opening of the Bahrain stock market, in Manama, Bahrain June 26, 2016.

Traders chat during early hours after opening of the Bahrain stock market, in Manama, Bahrain June 26, 2016.

REUTERS/Hamad I Mohammed

MANAMA: Plans to turn Yusuf bin Ahmed Kanoo Group of Companies into a shareholding company during the coming five years aim to cope with today’s changes and requirements on the one hand and major developments the group is witnessing on the other hand, said group deputy chairman Fawzi Ahmed Kanoo.

Since its inception 130 years ago, the group has been able to steadily expand its commercial activities, namely shipping, logistics, machinery, etc passing the family business on to six successive generations, he said.

Kanoo Shipping has launched operations in Antarctica through its office in South Africa, which represents a quantum leap for the company, he told our sister paper Akhbar Al Khaleej.

Being one of the largest cargo shipping companies in the Middle East, the company has demonstrated to the world its ability to compete with international companies in shipping, freight and clearance.

He stressed the need to enhance partnership between the public and private sectors, urging to provide the private sector with suitable opportunities, enabling it to prove its ability to manage various strategic sectors and projects.

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