00:00Abu Dhabi Shipbuilding was established in 1996 and since that time until today it does
00:09contribute to the manufacturing of or manufacturing sector in Abu Dhabi.
00:15Now that one goes through the shipbuilding as well as the services which we are talking
00:19about the repairs and maintenance of ships.
00:22We do also coordinate with the local suppliers and that's part of our duty and responsibility
00:28to help and work and buy from those local suppliers which actually does help also the
00:33generation of the revenue to be locally invested and utilized rather than being moved outside
00:39of the UAE.
00:41That's our contribution and another contribution also we do with the amortization which is
00:47also part of our priority here in Abu Dhabi Shipbuilding.
00:50Proudly to say all of the project managers at ADSP are UAE nationals which was not the
00:59case a few years before but that's exactly now what we are doing so priority is given
01:04to the locals.
01:05They are the focal point to run this company now as well as in the future.
01:10We do have a new strategy which has been approved by the Board of Directors that Abu Dhabi Shipbuilding
01:15should also have a good market share on the services and when I speak about services I
01:21am referring to the repairs and maintenance.
01:24So in five years we will have more concentration, we will have more enhancement as well as more
01:30market share of the services sector.
01:33To do that one of course we have acquired a floating deck.
01:37So the facilities here in Musafah is good but has some limitations with the sizes and
01:42therefore having the floating deck did help us to overcome this one.
01:46Currently we have the biggest floating deck in Abu Dhabi and that of course will help
01:52us to achieve our new strategy so it will not be only shipbuilding, it's shipbuilding
01:56as well as services and when I talk about services both military as well as commercial
02:02ships.
02:03Previously the company was thought to the clients that this company builds only military
02:07ships.
02:08The reality is no, it's military ships, commercial ships also as well as providing services.
02:14That message was not clear.
02:16Now with the new structure we do have, with the new strategy we are concentrating to have
02:22more awareness that Abu Dhabi Shipbuilding is not only a shipbuilder in terms of Navy
02:28or military ships but also a service provider, both commercial as well as military ships.
02:34Last year we got good revenue compared to our budget.
02:37This year I think we are doing also very well and it will be very good news by the end of
02:41the year, 2017 and beyond I think we are looking for better and better.
02:45Thanks to God the company is supporting itself, there is no any, what should I say, offer
02:53a draft or any loans.
02:56We do have all these facilities in the bank but thanks to God we have not been using this
03:00one.
03:01We are supporting ourselves.
03:02The amortization program we do have right now about 7%.
03:07We have a KPI target from the board of directors to enhance it by the end of the year to be
03:1010%.
03:11Internally we are working even with more than 10%.
03:15It's not a matter of only just to bring them and show the number has been increased, it's
03:19a matter of what their future career will be in 5 or 10 years.
03:23We take those as our brothers and our sons so we need to make sure their capabilities
03:28is enhanced, they have a future career and therefore a program has been set by the HR
03:35department to help that one.
03:36Now we are in the process of hiring about 40 people, new young men who just finished
03:43high school or institution from all UAE, Abu Dhabi and Northern Emirates and that one is
03:50to give them the chance to be the people who can work with oil and lubricants so it's
03:59a technical job and we find the right people.
04:03Now to do that one there is investment but we know that's a return investment, we will
04:07do it today, tomorrow we will have somebody who is working here and this is exactly what
04:11we are doing at the company.
04:12So I do have a feeling the company is going in the right direction.
04:15We are trying to have ADSP as a good environment for those people that they are proud.
04:21The minute they walk out of the gate they need to miss it when they will be coming to
04:25the company, not the opposite, oh my god I'm going to go to my work and again, no.
04:31Even the weekend the staff should miss the company, when is it going to be Sunday so
04:35I will be there at 8 o'clock or 7 o'clock.
04:37This is exactly what we are trying to make.
04:39In short, we are working very professionally in terms of management and utilizing the skills
04:44of those people who are at Abu Dhabi Shipbuilding.
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