Hanadi Al-Saleh, Chairperson of the Board of Directors of Agility, said that the company has reorganized its portfolio to ensure positive returns for shareholders, noting that it is optimistic about its operations in the Gulf.
Al-Saleh said during a seminar held by Al-Arabiya channel on the sidelines of the Davos conference that “(Agility) has a global portfolio of 100 percent owned companies, and our investments are largely concentrated in the field of logistics and industrial logistics services, and therefore it is difficult to ignore the International Monetary Fund when He says that in 2023 a third of the global economy is likely to be in recession, reports Al-Rai daily.
She added, “Do we feel that in parts of our work? Yes. But there is compensation from our assets in the Gulf countries, and we are thinking carefully about how to allocate capital in our portfolio, and with the increase in interest rates, we look at how to allocate capital in a way that guarantees a net positive return for shareholders.
“We look at interest rates and we look at our liquidity and financing strategy, we refinance our debt to make it long-term and try to secure enough liquidity to make sure we have the right investments in the right place,” Al-Saleh said.
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