Annual Report 2023

• salem haddad
• September 20, 2025
• Blog
• 0 Comments

REPORT 2023

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CEO MESSAGE;

PEACE, MERCY, AND BLESSINGS OF GOD UPON BE YOU.


It is my pleasure, on behalf of the Board of Directors and all employees of the Specialized Investment Clusters Company, to present to your esteemed assembly the 28th Annual Report. We ask Almighty God to guide us and you in discussing its agenda for the common good.
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DEAR SHAREHOLDERS,


It is with great honor that I present to you, in this meeting, a summary of the most important activities undertaken by the company during the year 2023, which are detailed in the attached annual report.



Over the past years, the company has remained committed to its investments despite the difficult circumstances caused by the COVID-19 pandemic and the Russia–Ukraine war, both of which had significant negative effects on economic sectors worldwide and in our Arab region in particular.


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In 2023, our region—including Jordan—was further affected by the war in Gaza, which placed additional strain on the Jordanian economy, impacting corporate performance, including that of our company. These challenges were largely due to a shortage of liquidity among investors, the difficulties faced by some of them, and a decline in stock market values.

Nevertheless, management worked diligently to overcome these challenges, safeguard our investments, strengthen the company’s position, and minimize risks. The company continued to invest in infrastructure improvements, most notably completing and fully operating a new wastewater treatment plant during the past year, in compliance with international standards.
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As mentioned, the regional circumstances negatively affected performance, and the company incurred losses totaling 519,641 JD in 2023. Meanwhile, shareholders’ equity stood at 12,891,027 JD, representing 159% of the company’s paid-up capital.



In conclusion, I extend my deepest gratitude to you, our valued shareholders, as well as to my fellow Board members and the executive management for your cooperation and understanding.
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I pray to Almighty God to protect you, preserve our country from all harm and disease, and enable the company in the coming years to reach the stage of distributing profits.



PEACE, MERCY, AND BLESSINGS OF GOD UPON BE YOU.


SINCERELY,

SAEED ABDUL KARIM HAYASAT

CHAIRMAN OF THE BOARD