2010 MESSAGE FROM THE CHAIRMAN

MANY LESSONS HAVE BEEN LEARNED FROM THE ECONOMIC STORMS WHICH WE HAVE ALL EXPERIENCED IN 2009.   WE’VE LEARNT THAT OUR STRENGTH DEPENDS ON THE QUALITY OF OUR TEAM. WE’VE LEARNT THAT YOU HAVE TO SHED THE FAT OTHERWISE YOU CANNOT KEEP PACE WITH YOUR LEAN COMPETITORS, THAT YOU NEED A DIFFERENT STYLE OF MANAGEMENT THAN THE ONE PRACTISED DURING GOOD TIMES, AND THAT YOU NEED TO POSITION YOUR RESOURCES BEHIND YOUR MOST PROFITABLE PRODUCTS AND SERVICES.

WE HAVE ALSO SEEN HOW ONE CAN BE SO PRE-OCCUPIED WITH COST CUTTING THAT ONE TENDS TO FORGET THAT THE CONTINOUS INVESTMENT IN YOUR PEOPLE IS YOUR BEST INSURANCE FOR FUTURE GROWTH.

WE AT MEMC HAVE EXPERIENCED WHAT OUR CLIENTS AND PARTNERS HAVE ALSO EXPERIENCED IN 2009. WE HAVE HAD TO STREAMLINE, TO WATCH OUR CASH FLOW, TO INVEST IN OUR PEOPLE AND TO RUN A TIGHT SHIP. WE ARE ALREADY SEEING THE BENEFIT OF THESE CHANGES BOTH INTERNALLY AND IN THE WAY WE ARE SERVING AND HELPING OUR CLIENTS.

I WILL END THIS MESSAGE WITH A THANK YOU NOTE TO ALL OUR PARTNERS, OUR SUPPLIERS, OUR TEAM, OUR CONSULTANTS AND MOST OF ALL TO OUR CLIENTS AND WISH YOU ALL A PROSPEROUS 2010.

LABEED HAMID

PRESIDENT AND CHAIRMAN

MIDDLE EAST MANAGEMENT CENTRE (MEMC)