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A cooperation agreement conclude with the Disabled Children’s Association

Middle East Specialized Cables Company (MESC) and Disabled Children’s Association signed a memorandum of understanding, as a National Initiative for safe driving (Ya3tek Khairha ), which aims to reduce the incidence of disability through all possible means. Mr. Aiman Al-masri – MESC president – represented MESC at the signing of the memorandum. Mr. Suleiman Mansour represented – Executive Director of the National Initiative for driving safe “Ya3tek Khairha ” he had expressed his happiness with this cooperation with (MESC) Company with his thanks and appreciation to the management of the company on their interaction and their consent to participate in the program, initiative and cooperation with the Assembly.

Chairman of MESC group Mr. Abdulaziz Al-Namla and President Mr. Aiman Al Masri paid visit to the MESC factory, during this visit Mr. Abdulaziz meet the head of departments in the factory and stand on the progress of work at the plant. At the end of his visit Mr. Abdulaziz urging all departments for more effort and giving and teamwork.

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New Egyptian Branch for Al-Moussa Cables

On 6, Dec 2016 Al-Moussa Specialized Cables Co. held the opening ceremony for their new branch in Cairo. The opening ceremony was attended by MESC VP Marketing & Sales Mr. Tamer Salama and other MESC colleagues, additionally, a number of Egyptian businessmen including Sports Minister Mr. Taher Abu Zaid, were present during the ceremony.

 

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Middle East Specialized Cables Co (MESC) Announcement Update on the Progress of the Conversion to IFRS Accounting

As per the requirements of the Capital Market Authority for all listed entities on the Saudi Stock Exchange to adopt International Financial Reporting Standards (IFRS), endorsed by the Saudi Organization for Certified Public Accountants (SOCPA); Middle East Specialized Cables Co (MESC) announces its second update on progress of the conversion to IFRS Accounting as follows:
1. IFRS Transition Plan
The detailed plan for the transition to IFRS accounting & accounting policies has been validated by the management and under implementation.
2. IFRS Consultant
A specialist external IFRS consultant has been appointed for the IFRS transition project and the consultant is working with MESC on the execution of the IFRS transition project.
3. Internal IFRS Team
The external IFRS consultant onboard is working with an experienced in-house finance team that has been established for managing and delivering the IFRS transition project for MESC.
4. IFSR Transition Status
MESC has not faced any difficulties and does not expect to face any major obstacles for the transition to IFRS accounting.
5. First IFRS Financial Statements
MESC will produce its first set of IFRS financial statements for the quarter ended 31st March 2017, alongside IFRS based comparatives for the quarter ended 31st March 2016. All subsequent financial statements (including comparatives) will be prepared based on IFRS.
6. IFRS Accounting Policies
The target date for approving the IFRS accounting policies is the 15th December 2016, to allow a smooth transition to IFRS accounting by 1st January 2017.

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Chief Executive Officer of Middle East Specialized Cables (MESC), Eng. Ayman Bin Ibrahim Almasri, in an exclusive interview with Al-Sanaat Al-Watania magazine

Al-Sanaat Al-Watania magazine interviewed the Chief Executive Officer of Middle East Specialized Cables (MESC), Eng. Ayman Bin Ibrahim Almasri. He talked about MESC Company and how it is a leader of specialized cables industry in KSA and the Middle East. Eng. Ayman confirmed that MESC has been in the Gulf Cooperation Council countries for many years and that the demand on its products is still increasing, in spite of the mass competition from Indian, Chinese, and other big companies around the world. Eng. Ayman also talked about the company and what it offers for the localization, he said: MESC Company plays an important role in the field of localization through its advanced training center. In the end of the interview Eng. Ayman thanked the Saudi leadership for their concrete support of the local industries and its quest to diversify sources of national income through 2030 KSA Vision.

Read more by visiting the magazine website: http://sna3at.com/Journal/10