Issue link: https://maltatoday.uberflip.com/i/234240
37 Events maltatoday, Sunday, 29 December 2013 The 'Fabulous' brand grows with the opening of Fabulous Home A select group of guests were treated to a good douse of 'fabulous' at a Champagne Party on the occasion of the launch of Fabulous Home in Valley Road, Msida. Fabulous was incorporated just over a year ago when interior designer, Kenneth Tanti opened his wallpaper and fabric boutique in Sliema. Today, a year later the brand has grown with the launch of Fabulous Home, and so has the team. The new home store houses individual pieces personally selected by Tanti and his team. "Fabulous was first incorporated with the wallpaper and fabric boutique situated in Sliema but it was always our objective to open a larger space specialising in accent or accessory pieces. The new home store was designed to provide all of the accent pieces, fabulous armchairs and smaller pieces of furniture, lighting, home décor, mirrors and everything needed to finish off ones interior space. The home store also has dedicated areas for fabric and wallpaper as well," Tanti said. As you enter the store, the importance and energy placed on presentation is evident. The store oozes elegance, warmth and glamour. The items, sourced from locations across Europe as well as select pieces from Asia, are hand-picked to achieve a specific look, mixing vintage and classical pieces, statement pieces and luxury items. The same concept of warmth and sophistication extends to the customer experience. Martina Sullivan, Operations Manager commented, "Our customer service is just as important as our products. We aim to give the client the very best service from our design team who are on hand to help guide them from a one off purchase or to assist with a complete home renovation. Our in house team consists of both designers as well as a full sewing department for curtains and soft furnishings." When asked what's next for the brand, Tanti added, "The wallpaper and fabric boutique has already been a proven success and Fabulous Home has had a great few weeks since we opened; we are replacing stock as fast as we can to keep up with the popularity of many of our favourite pieces. We will look into the viability of opening a larger third location for furniture and larger items." Perfect weekend for giving back Shareholders approve dividend and bonus share issue During the BOV's 40th Annual General Meeting shareholders approved a final gross dividend of €0.13 per share, which represents a gross payment of €0.19 per share. The Board's recommendation of a bonus issue of 1 share for every 10 shares held was also approved by the shareholders. This will result in an increase of the permanent capital to €330 million. BOV Chairman's intervention It all started with a dress-down day at the office on Friday, 22nd November, where donations were collected for decorating the Rainbow ward at Mater Dei Hospital, for the festive season. A group of Nexia BT employees eagerly volunteered to spare some time from their busy schedule to decorate the ward. The decorating activity was held between Saturday 30th November and Sunday 1st December and the dreary weather made it all the more ideal for this indoor activity. Preparations were planned ahead and employees came up with creative ideas on what to decorate, including Christmas crafts, handmade cribs, advent calendars (made from recycled tins filled with sweets) a Christmas photo booth, a colorful Christmas tree and a wreath to name a few. To add an additional fun touch, the team did all this dressed as Santa's elves. "Supporting charities by giving our time is important to us and we continually seek to grasp opportunities to get more involved" says, Nexia BT Managing Partner, Brian Tonna. "We have a professional workforce who is able and willing to contribute to society, and in turn these opportunities serves as fun team-building exercises enabling people to get to know each other and utilise hidden skills", he added About Nexia BT Nexia BT is an audit, tax and advisory firm providing a full range of financial and advisory services to various kinds of organisations. Today, Nexia BT is a leading mid-tier audit firms in Malta, with offices located within the Capital Business Centre in San Gwann. The firm is a member of Nexia International, a top-ten worldwide network of independent business advisors, consultants, auditors and accounting firms present in over 100 countries. Its mission statement is to provide clients with a value-added and personalised service of the highest standard. The firm currently employs more than 65 employees, engaged across all of its departments. Nexia BT is an Approved Employer at Platinum Level with the Association of Chartered Certified Accountants (ACCA) and, in 2012, it was awarded the Equality Mark by the Maltese National Commission for the Promotion of Equality. For more information log on to: www.nexiabt.com Addressing the shareholders for the first time as the BOV Chairman, John Cassar White commented on the satisfactory performance of the BOV Group that registered a profit before tax of €115.8 million, a 5% increase compared to the previous year. The Group continued to strengthen its core Tier 1 capital ratio which now stands at 11.7%, up from 10.7% last year. In his speech, the Chairman made reference to the Banking Union and he mentioned the fact that BOV, being a domestic systemically Bank, will now be under the direct supervision of the ECB. Looking forward, the Chairman commented on the positive prospects for the Maltese economy which is expected to grow at a faster rate. Job creation, rising disposable income and innovative investment opportunities are expected to be the main drivers of economic growth. He concluded his intervention by reaffirming the commitment of the BOV Group to support the local economy, particularly the small and medium enterprises, while protecting shareholders' value. CEO's Address Charles Borg, CEO of Bank of Valletta gave a detailed analysis of the factors that had a marked impact on the Bank's financial performance. Financial Year 2013 witnessed a resilient Bank of Valletta that retained its deliberate prudent approach in managing its balance sheet, with a view to maintain strong capital and liquidity buffers, while safeguarding its asset quality. Earlier this year, the Bank paid BOV Chairman John Cassar White back two Long Term Refinancing Operation (LTROs) loans totalling €170 million. "This means that the entire Bank's funding is now wholly composed of customer deposits and long-term senior and subordinated debt, with no reliance on the international money markets," explained Mr Borg. FY 2013 was characterised by customer centric innovation across all business lines, as BOV responded effectively to changing customer needs, sharpening its customer value proposition and delivering an experience that is aligned to the Bank's brand promise. This year, Bank of Valletta reviewed its visual identity to project a fresher and bolder identity. Charles Borg reported that during FY 2013, Bank of Valletta opened six regional Investment Centres across Malta and Gozo. This was one of the initiatives undertaken by the Bank with the objective to give a new structure to the investment advisory service, in line with the changes implemented in the regulations of this sector as well as inves- tors' expectations. Business of the AGM Following the Chairman's and the CEO's address, four resolutions were put to the meeting. These resolutions included approval of the Profit and Loss Account and Balance Sheet for the year ended 30 September 2013, and the Directors' and Auditors' Reports. In addition, a gross final dividend of €0.13 per share, which represents a gross payment of €39,000,000 as recommended by the Directors, was approved for payment on the 20 December 2013. The re-appointment of Deloitte Malta, jointly with Deloitte United Kingdom, as Auditors was also approved. Approval was also obtained to increase the issued share capital of the Bank (from €300 million) to €330 million and to capitalise €30 million from retained earnings for the purpose of a bonus issue of 1 share for every 10 shares held on the 17 January 2014. An election of Directors was held at the Annual General Meeting.