Fayez Al-Otaibi: 12% expected profits by the end of 2021 for the shareholders of Fahaheel Cooperative

We always strive for excellence and leadership, and we are working to develop the service and marketing aspects

Fayez Khalaf Al-Otaibi, Chairman of the Board of Directors of the Fahaheel Cooperative Society, praised the effective role played by the cooperative societies during the pandemic of the emerging corona virus, through serving the country, as they proved that they are up to the responsibility and that their role is no less than that of the ministries of health and interior, in their preparations to provide and deliver all foodstuffs. home, which exposed many board members and employees to infection with the virus.


Al-Otaibi said, in a press statement, that the board of directors faced a difficult period during the Corona pandemic crisis, with a kind of challenge, and that period was overcome thanks to the cooperation between the executive board of directors, as the association sent awareness messages to shareholders and the people of the region, while providing home delivery service for shareholders and families during The ban, as 5,500 deliveries were carried out in just 20 days, and there was continuity of delivery until the end of the ban period and the provision of all goods without interruption, and we followed all precautionary measures in the face of the Corona virus, by sterilizing vehicles and floors and providing sterilizers to customers and workers in the central market and branches, in addition to providing a preventive basket To shareholders and provide enough strategic stock for a period of 6 months.


He pointed out that «the association provided the quarantine in Al-Khairan with foodstuffs, sterilizers and juices, and we do not forget to shed light on the achievements and contributions made by the board of directors and the executive staff, such as the work of the walkway, the development of branches and attention to staff clothing, and dividends were distributed to shareholders by 8.5% in Their accounts for the year 2020, and we seek to raise the percentage of profits to 12 percent for the year ending in 2021.”

He announced that «there are some achievements such as renovating the market floors, changing the shelves in the vegetable branch through a project whose financial cost is 27 thousand dinars, which included placing the cold room at the bottom in order to organize the process of entering products from a private entrance, and not allowing them to go up to the market until after they are fully equipped and priced to be From the refrigerator to the refrigerator, and the development of the two islands of nuts and coffee in the central market, as well as the development of the two branches of catering and a grocery branch in Block 6, by renewing the advertisements of the branches in cooperation with one of the companies and expanding the catering branch in order to ensure the convenience of shareholders and reduce overcrowding in the branch, and the development of refrigerators in the branches to be worn out, in cooperation with Some of the supplying companies require that the companies supply refrigerators to the association at the company’s expense, and a number of new refrigerators have been provided.”


Al-Otaibi also referred to “the provision of sports, educational and health activities, through discounted subscriptions with special football academies, health clubs, health clinics, tourist resorts and tickets for recreational centers with special and very appropriate discounts, in addition to allocating and preparing a place in the central market for the household utensils section in the basement to display a distinguished assortment. A variety of high quality household utensils from specialized companies. We are in the process of offering activities that serve the shareholder and the people of the area in the suburban market. Several activities have been approved in the mezzanine of the central market and are being prepared for offering.

The activity (formerly the land of the old administration) was converted from an administrative activity to a commercial one, and it is in the process of preparing a plan for its construction and dividing it into several activities to offer them with a distinctive brand. We purchased cashier tables with advanced machines, and expanded the outlet to facilitate movement at the cash machines. The board of directors also took approvals from the concerned authorities to develop the walkway (Block 1), and work has already started and has been prepared with 70 percent of it.

With regard to Umrah and chalets, Al-Otaibi stated that “the budget has been amended to allocate funds to organize trips for Umrah and chalets, and approvals are being finalized at the Ministry of Affairs to grant a reward to the children of outstanding shareholders in secondary school certificates. We always strive for excellence and leadership, and we are working to develop the service and marketing aspects, and we are keen to achieve the highest level of satisfaction for all shareholders and consumers.”


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Adil Khan

Adil Khan writes about Kuwait National News for Mykuwaits, out of Kuwait. Adil Khan is a senior reporter for Mykuwaits.com and has frequently written about the latest developments in the State of Kuwait. Adil Khan is available on Facebook at the below link, Please send in your leads and tips.
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