Group Chairman’s Statement

On behalf of the Board of Directors, it gives me great pleasure to present to you the Group’s financial performance for the year ended 31st December, 2020.

The year 2020 was unforgettable, unprecedented and unparalleled. The world was hit by a pandemic that the current generation had never experienced. The pandemic has turned the world upside down, forcing numerous nations to go for partial or total lockdowns. Air travel, both domestic and international, was either suspended or made very difficult, and some industries closed while others are likely to collapse.

These measures have disrupted our lives in a manner none of us has experienced before, cutting off trade and supply chains, resulting in massive job losses or pay cuts, working from home, or taking unpaid leave, as businesses try to survive this unprecedented crisis. Nonetheless, the disruption had some positives outcomes; it forced businesses to re-engineer by accelerating the pace of digital transformation.