Issue link: https://maltatoday.uberflip.com/i/1114702
09.05.19 5 NEWS KSI Malta - a tax, legal advisory and corporate services fi rm pro- viding a wide range of services to both local and international clients. - has announced plans to relocate to a new state-of-the-art offi ce in Valley Road, Msida. e new offi ce block will be lo- cated in a prime position, enjoy- ing very wide frontage overlook- ing Valley Road. It is scheduled to be completed by the start of 2021, off ering a new business address and corpo- rate lifestyle for over 150 people. Spread over a fl oor area of 2,600m2 on eight fl oors, the new KSi Malta offi ces will include all modern facilities expected within such developments, in- cluding comfortable workspac- es, spacious meeting rooms and fully-equipped boardrooms, staff facilities, chill-out areas and sun-washed terraces for team activities and open-air meeting spaces. e building is designed in line with the highest environ- mental building standards and will provide offi ce spaces for third party entities who are seeking to strengthen their presence in Malta while re- maining as close as possible to their advisors. Established 40 years ago by the Managing Partner, Joseph Gauci, KSi Malta provides a full range of fi nancial, legal, and business advisory services to a diversifi ed client base. KSi Malta is a member of Mor- ison KSi, a global association of leading professional fi rms, es- tablished to meet the cross-bor- der accounting, auditing, tax and business consulting needs of cli- ents. It consists of 155 member fi rms, is present in 82 countries, employs over 9,000 staff , and has a turnover of over $1 billion. e new offi ces will also con- tribute positively to brand ex- posure, workplace experience, a robust culture of teamwork and open communication which, in turn, will aid in providing the highest quality service to the Firm's local and international clients. Gauci, said the fi rm was invest- ing in new premises to further reinforce its commitment to its brand identity, staff , clients and to our country. "We believe that Malta will continue to experience positive economic momentum, which will lead to further growth and prosperity," he said. " e investment the fi rm is making will ensure that it at- tracts and retains the best pro- fessionals in the industry and continue to deliver the highest level of service to our clients. e new offi ce block is an im- portant step in achieving these objectives." Dennis Mark Gauci and Ber- nard Charles Gauci, the other partners of the fi rm, agreed. "We worked hard over the past few years to consolidate the Firm's core business off er- ing and to develop new service areas. is is a very special year for us as we celebrate 40 years of driving businesses forward. While we continue to prepare the Firm for further growth, this investment will help posi- tion the KSi Malta brand on the front line of service providers in Malta." KSi Malta announces new multimillion office space MAPFRE Middlesea Chair- man Martin Galea reported another successful year for the company during its Annual General Meeting which took place at the Corinthia Hotel last week. He told shareholders that the company will be paying a dividend of €9.00 million compared to last year's €9.7 million. He also reported that the company's solvency and liquidity position remain very strong and all stakehold- ers can be confident that the company is in a good finan- cial position. e Chairman reported that during the last 18 months the board of directors have been reviewing the capital require- ments of MAPFRE MSV Life, the Life insurance subsidiary of MAPFRE Middlesea which is owned jointly with Bank of Valletta and It was deter- mined that the company had excess capital and a decision was taken to distribute a spe- cial dividend. is dividend received in March 2019 will be distributed to the Company's shareholders as a special inter- im dividend together with the ordinary fi nal dividend. Galea said that as far as the operations of the company are concerned, MAPFRE Middle- sea continues to perform well, in spite of very high claims. 2018 was a record year in claims. Galea reported that €42.30m in claims were incurred during the year. He commented " is is our business. We take on the risks of our customers and pay the claim out when adverse circumstances occur. e cli- ent is helped when he needs it, and would otherwise face fi - nancial hardship be it through accident, weather or health. We managed to maintain our profi tabilty as we reinsure risks when our risk profi le is exceeded. In this way we were able to contain the claims in- curred and and indeed protect our profi tability." President and CEO Felipe Navarro presented a full fi nan- cial and operational report. He said that the company contin- ues to invest in staff , Govern- ance as well as IT. MAPFRE Internacional SA owns 54.56% of the Company thus, in eff ect, MAPFRE Mid- dlesea plc and MAPFRE MSV Life plc are both subsidiaries of the MAPFRE Group. Being part of a global international insurance group means that both entities obtain great sup- port and expertise in a number of areas. is would include training, technical support on underwriting and reserving, increased oversight and con- trols, technical actuarial assis- tance as well as assistance in dealing with new regulations especially with regard to Sol- vency II. Bank of Valletta owns 31.08% of MAPFRE Middlesea and they are signifi cant sharehold- ers in MAPFRE MSV Life with 50%. MAPFRE Middlesea holds Annual General Meeting European Parliament and Local Council Elections - May, 2019 Early Voting The Electoral Commission informs those voters who intend to vote one week before polling day, owing to their being abroad or hospitalized, that they may personally call at the Office of the Electoral Commission, Counting Hall Complex, Naxxar, or at 28A, St Francis Square, Victoria, Gozo, to effect the necessary sworn statement as follows: Monday to Friday: 8.00 a.m. until 1.30 p.m. and 3.00 p.m. until 7.00 p.m. Saturdays and Sundays: 8.00 a.m. until noon The legal deadline to effect such applications by affidavit is noon of Friday 17th May, 2019. Applicants must show their I.D. or Residence Card. NOTICE BY THE ELECTORAL COMMISSION www.electoral.gov.mt