The Dubai Quality Group (DQG) has reported a net profit of 527,697 Emirati dirhams ($144,000) for 2001 after recording a net loss of Dh350,686 in the previous year. DQG was able to realize a cash surplus of Dh647,433 during the same period, which helped it cover its previous losses, stated a company press release.
The DQG was set up in 1994 as a non-profit business organization by the Department of Economic Development under the patronage of Sheikh Ahmed Bin Saeed Al-Maktoum. DQG has a membership of over 1,500 individuals representing 300 public and private sector organizations.
At the company’s annual general meeting, DQG Vice-Chairman Ahmed Abdul Rahman Al-Banna said that changes are expected to be made in the terms for becoming a DQG affiliate partner. Previously, DQG affiliation was open to organizations having a staff of 25 or less, but under the proposed changes it would be open to organizations forming part of a larger holding company.
Al-Banna also said that under amendments to be made to the Articles of Association, long-term partnership renewals would be introduced while the annual subscription to all partners who are interested in renewing for two to three years would be reduced by five percent for the second year and a 10 percent reduction in fees for the second and third year.
DQG organizes activities aimed at developing a skilled professional and managerial local workforce. The Group's offices are located in Dubai, where facilities include training rooms and a library. Membership is open to all companies, regardless of size. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
