Emirates Central Cooling Systems Corporation PJSC

Emirates Central Cooling Systems Corporation (Empower), a leading district cooling services provider, has begun the process of connecting the Al Wasl Skyscraper in Dubai to its district cooling network. The skyscraper will be connected in two phases, with the second phase starting in the second half of 2024, providing a total of 3,900 refrigeration tons of environmentally friendly cooling energy. The Al Wasl Skyscraper, a sustainable building with 65 levels, is the tallest ceramic façade in the world. The CEO of Empower highlighted that this addition to their portfolio reflects confidence in their services and commitment to reducing carbon emissions. The building has 229 luxury residential units and 258 hotel rooms.

His Excellency Saeed Mohammed Al Tayer, Chairman of Emirates Central Cooling Systems Corporation (Empower), has honored His Excellency Ahmad bin Shafar, CEO of Empower, for his significant contributions over the past 20 years. Bin Shafar has been recognized for his role in advancing the district cooling industry on a regional and global scale, and for leading Empower to a prominent position in the sector. The Chairman commended the company's progress in technical and production capabilities, its use of Fourth Industrial Revolution technologies, and its commitment to innovation. He also praised Empower's customer service, environmental conservation efforts, and quality standards. The Chairman attributed Empower's success to the support of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The Annual General Meeting (AGM) of Emirates Central Cooling Systems Corporation (Empower) has approved a proposal to distribute AED 425 million in cash dividends to shareholders for the second half of 2023. The AGM, chaired by Saeed Mohammed Al Tayer, the Chairman of Empower, was attended by 90.4% of the company's paid-up share capital. The company's financial results for the year ending December 31, 2023, showed a record revenue of AED 3.035 billion and a net profit of AED 960 million. The dividend distribution aligns with the company's policy and it expects to pay a minimum dividend amount of AED 850 million per annum in the first two fiscal years.

The text appears to be an announcement or introduction to the Integrated Annual Report for 2023 by Empower, a company involved in finance and investing. The report likely includes information about the company's financials, engagement strategy, and governance index.

Emirates Central Cooling Systems Corporation PJSC (Empower) has invited its shareholders to the annual general meeting on March 27, 2024. The agenda includes approving the appointment of the Secretary of the meeting and Dubai Financial Market as votes collector, the Board of Directors' report, the external auditor's report, and the consolidated financial statements for 2023. The board will also consider approving the interim cash dividend of AED 425,000,000 for both halves of 2023 and the company's dividend policy. The board's remuneration for 2023, discharging the board members and external auditors from liability for 2023, and variation in audit fees will also be considered. Finally, the appointment of the external auditors for 2024 will be discussed. Shareholders can register and vote electronically and may delegate a proxy to attend the meeting on their behalf. The quorum for the meeting is 50% of the company's share capital.

Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, has reaffirmed its commitment to the Emiratisation process, aiming to increase the contribution of Emirati talents within the company. This aligns with the company's strategy to attract national talent in various fields including management, production, distribution, development, and applied research. As of December 2023, Emirati employees constituted over 15% of Empower's workforce, with a gender distribution of 45% women and 55% men. The company aims to maintain gender balance and plans to further increase the number of male and female employees in the district cooling sector. Empower's CEO, His Excellency Ahmad bin Shafar, emphasized the company's commitment to Emiratisation and attracting qualified Emirati expertise.