Issue link: https://maltatoday.uberflip.com/i/421389
Events 48 maltatoday, Sunday, 23 november 2014 As the difficult situation in Libya persists, Medserv plc's interim state- ment demonstrates the strength of Malta's position and relationships with Libya and the importance of our role in supporting business op- erations out of Libya . Whilst operations out of the Com- pany's Misurata base remain diffi- cult, assistance and support to cli- ents still operating in Libya is being provided through the Company's Branch Office, Medserv Libya, out of Tripoli. In an interim statement issued today, the Company reported that the Group continued to secure con- tracts with multinational oil service companies. Medserv Libya signed a tripartite agreement with a leading International Oil Company and a leading rig operator to support ac- tivity offshore Libya. Further agree- ments have also been signed with other leading International service companies, representing supply vessel support, mud mixing opera- tions, procurement and local repre- sentation. Medserv's interim statement re- ports that forecasts published in April 2014 which indicate a profit of € 2.2 million (before tax) are on target as the Groups results pick up in the second half of the year. All contracts announced in the first half of the year have commenced as anticipated. The company remains confident that the delayed offshore mainte- nance contract referred to in previ- ous statements will become active before the end of the year or the first quarter of next year. The difficult situation in Libya remains the cause for this delay. The company also reports that as anticipated, the second half of the year has seen a rise in activity both in Malta and Cyprus where both bases are working at high levels of capacity. Medserv Cyprus has moved from 'stand by' status to fully operational as the rig, Saipem 10000, com- menced drilling operations offshore Cyprus. This has increased the vol- ume of work and is contributing strongly to the Groups results for the year. The new office block built to ac- commodate the various clients us- ing the Malta facility is fully occu- pied and the company is increasing office space by installing new high quality porter cabin offices at both the base in the Malta Freeport and the land at Hal Far in response to clients' demands. Medserv reports that it is expect- ing to continue its strong perform- ance into 2015. The Group's busi- ness development team have also intensified their efforts to continue to identify new markets and serv- ices to ensure that Medserv retains its position as the main provider of a fully integrated service to the offshore oil and gas industry in the Mediterranean region. www.medservenergy.com Century 21 Real Estate, the iconic brand and franchisor of the world's largest residential real estate sales organization, announced that its global footprint has expanded in Asia, Africa and South America with the recent opening of mas- ter franchise offices in Cambodia, India, Peru, and Tunisia. The an- nouncement was made during the company's biannual International Master Franchisors Conference, held recently in Macau, a special administrative region of the Peo- ple's Republic of China. "Extending the brand's presence in these regions is consistent with our strategic plans for international growth," said Rick Davidson, presi- dent and chief executive officer of Century 21 Real Estate LLC. "More importantly, it reflects the con- fidence real estate entrepreneurs worldwide have in the ability of the Century 21 franchise business model to enable business success." Last September, at the Century 21 International Master Franchisors Conference in Düsseldorf, Germany, announced the launch of its global website - century21global.com. In its first year, century21global.com has featured about 300,000 exclusive property listings of the Century 21 System, and has generated a signifi- cant quantity of buyer leads to C21 System members. "Coupled with the brand's online, proprietary refer- ral network, Global Connector, centu- ry21global.com is linking global real estate consum- ers with the brokers and affiliated sales professionals of the Century 21 System in an efficient manner. "Consumers around the world know our brand and view Century 21 real estate professionals as valu- able and trusted resources," added Davidson. "International home buyers and real estate investors from both emerging and developed nations are not only finding reloca- tion, second home and investment opportunities on the site, but they are also able to interact with the properties and with Century 21 af- filiated agents in the language and currencies to which they are accus- tomed." If you want to learn more about Century 21 in Malta, please send an email to info@century21.com.mt. Century 21 Real Estate LLC is the franchisor of the world's largest res- idential real estate franchise sales organization, comprised of approx- imately 6,800 independently owned and operated franchised broker of- fices in 78 countries and territories worldwide with more than 100,000 independent sales professionals. The Institute of Director's Malta Branch (IoD) Chairman James Satariano reported that over 130 delegates attended the workshop for company service providers (CSP's) organised by the IoD in conjunction with the Malta Financial Services Authority (MFSA) and the Malta Institute of Management (MIM). Opening the workshop, Satariano stressed that Malta's solid reputa- tion as a trusted international finan- cial and business centre depends on improved standards in corporate governance as well as regulatory au- thorities and enforcement agencies needing better tools to effectively address emerging risks. Satariano said, "There is a risk that the companies CSP's help to incor- porate may be abused by criminals to set up complex or unusual business structures to conceal beneficial own- ership, and reduce the transparency of transactions. "Hence, there was the need to en- hance the regulatory framework for company service providers with the new 2013 Act. Besides mitigating the risks of money laundering and terrorism financing, regulatory en- hancement helps raise the profes- sional standing of company service providers, which is a good thing for the reputation of the jurisdiction." The packed hall was then addressed by keynote speaker Roger Barker, the Director of Corporate Governance and Professional Standards at the In- stitute of Directors in the UK. Barker is Senior Advisor to the Board of ecoDa (European Confederation of Directors' Associations) and Chair- man of the ecoDa education com- mittee, a board member of European Women on Boards ASBL, and sits on several corporate governance advisory boards, including those of the Institute of Chartered Account- ants in England and Wales (ICAEW) and ISS European Governance Ex- change. Barker said that the limited liabil- ity company is the cornerstone and building-block of the modern econo- my, however, while it can be used for legitimate purposes it was important to understand that it can also be the vehicle for criminal purposes. This negatively impacts the reputation of the entire economic system. This, he said, is what all jurisdic- tions must manage to maintain in- tegrity. Malta is no different in this regard and every effort must be made to attach effective corporate govern- ance to robust legislation. Barker covered proposals by UK Prime Minister David Cameron on creating a public register of ben- eficial ownership. A key means of countering abuse is transparency about legal and beneficial ownership of companies, argued Barker and many international organisations are promoting the transparency of cor- porate vehicles such as The Financial Action Task Force, the OECD, and the EU. In conclusion, Barker said that The Company Service Providers Act 2013 is a positive step forward for the in- tegrity of companies in Malta but it is not the end of the journey. There is probably more regulation to come, and how much will depend on how well directors do their jobs. The workshop moderated by Ogil- vy CEO Edwin Ward was held at the MFSA's building in Mriehel. Medserv plc's interim statement highlights the importance of Malta's role in supporting Libyan operations Century 21 continues global expansion Original Malta, a local NGO es- tablished less than a year ago, was set up by Lisa Grech, founder of Malta Artisan Markets, to further assist in promoting and raising the profile of Maltese Islands based contemporary artisans to a world- wide audience. Assisted by the Malta Enterprise Network Support Scheme, www. originalmalta.com showcases the best of Maltese contemporary craft, art, design and artisan food pro- duce. The official launch of the NGO and www.originalmalta.com took place at the Casino Maltese in Val- letta on the 6 November. Chris Cardona, Minister of Econony, In- vestment and Small Business, and Marika Tonna, CEO of Malta En- terprise, attended the launch. Lisa Grech, President of Original Malta, said of the site, "My vision in developing the concept for www. originalmalta.com is to offer a high quality website showcasing our members work and the individual artisan to our customer. "The site's photography was es- pecially com- missioned for the website by photog- rapher Mike Caffrey and together with NIU, one of Malta's most r e p u t a b l e website de- velopers, we have created a visually stunning site which is also i n c r e d i b l y functional". The website is partly funded by the Malta En- terprise Network Support Scheme. Lisa Grech on the evening thanked the organisation for its support of the artisans work and said, "many artisans find that they often work in isolation, we are grateful that Malta Enterprise have realised the potential of local artisans, the NGO and website to allow for them to be able to network, share ideas and sell under one umbrella E-commerce site". Chris Cardona said of the initia- tive, "This is a chance to celebrate wonderful homemade products and shout about them to people far and wide. This organisation and this website are not just platforms for showcasing and selling. You also enable an exchange of ideas and ex- pertise. You are a community work- ing together, and it is good to see." "This website is an obvious devel - opment for Malta Artisan Markets and comes less than a year after the project was launched. I am pleased that Malta Enterprise has been there to work with you and to sup- port you." Further developments in the pipe- line for the site is for it to be trans- lated into a further 4 languages opening it up to a larger clientele as well as to send out newsletters with news on artisans and exhibitions and upcoming fairs. Original Malta presently has 12 founder members including arti- sans Stephanie Borg, Stephen Cor- dina, Gaetano Saliba, Andrew Vella Montague, Candice Fava, Fransina Grima, Caroline S. Lawrence, Sue Mifsud, Ray Sciberras, Judith Tho- mas, Rosita Gasiunaite and Antoine Vella. Arts and crafts produced by the members include art, filigree, contemporary jewellery, egg art, cosmetics, fashion, candles, ceram- ics, silk painting, weaving and local food products. Membership offers artisans sup- port and umbrella marketing, net- working, mentoring enabling the exchange of ideas and expertise, marketing opportunities and a platform to showcase and sell work through the site. To read more about becoming an Original Malta member visit www. originalmalta.com Launch of official E-commerce website for Original Malta Company Services Providers get top international insight at MFSA workshop