2025-08-04_12_32_03.wav

في الاجتماع الثالث لجلسة المراجعة لقوارثة رتين في أجندة اليوم سنمتلك أجندة أجندة بعد ذلك سنمتلك أجندة أجندة في أجندة 30 جون ثم سنبحث سنبحث عن أجندة أجندة لأجندة أجندة ثم سنمتلك أجندة

أبروث

أبو عبدالله يوهب الفلو

أيها الزكاة أيها اللاهو السلمان والسلماء العباء ممكن في بعض الابديتز that I think deserve to be brought to the attention of مقام اللجنة جزء من التعاقب الوظيف عندنا في STC our CFO will be rotated to the finance sector في STC and a new CFO will join us at the end of this month من البروك أخونا عاصم المحطامي and in the next meeting we'll introduce him officially and I want to take also this opportunity to thank أخونا محمد محمد موجود معنا في إجازة for his extensive work خلال الفترة الماضية along with his team يزيد والزملاء والزميلات اللي عندهم in the same time أخونا أيضا فاسر القهطاني this is the last month for him and سرار he decided to join other opportunity and with that we have our colleague عبدالله الحمدان he will be we're in the process now to appoint him as an acting board of security we get the initial endorsement from the chairman and we're in the process right now to inshallah to secure all the approval so thank you أبو عبدالله أبو سيف for your work throughout the past years you did great صراحة وما قصرت معنا on behalf of the management would like to thank you for your extensive support that you provided خلافة الماضية in the same time I would like to introduce our new leadership زميلتنا الجوهرة الرئيس the new director of the GRC she joined us إن شاء الله to strengthen the second line of defense with her support we'll take صراحة to new heights giving the nature of our business for regulatory حقيقة and landscape so we're يعني investing and strengthening our controls within the corporate doing responsible business خلال خطر قادم بإذن الله secondly I'd like to welcome أخونا أبو مبارك عبدالله الحمدان the new head of legal and regulatory affairs who joined us مقام اللجنة قبل ما نبدأ في أي أجندة

شكراً على تحديثها أبو عبدالله ونسأل التوفيق للمشاهدين الجديدين ونشكر المشاهدين ونتمنى لهم التوفيق وشكله فيه تغييرات كثيرة يعطيكم العافية والله يعينكم أهم شيء بس الاستابلتية في الأشياء الرئيسية التفاعل والمساعدتكم في تحديد الانتقال ومساعدتكم في تحديد الانتقال ونسأل المشاهدين ونسأل المشاهدين ونسأل المشاهدين

إذا تسمح لي ودي صراحة أشتغل فوق أبو سيد يعني ما قصد خلال هالسنة وكان جدا متعاون وحريص وأكيد ما ننسى أولئنا كان لها دوار مهمة نشكره بعد وضعه في العضاة الجديد هناك كل التوفيق وإن شاء الله قدامنا سنين مليئ بالنجاح

بذلك سنبدأ إن شاء الله مع مواصلاتنا لـ Q2 معنا هنا يزيد اليحياء هو المشارك في هذا الموضوع

سيساعدنا على التعامل معه

ومن ثم سنقوم بإدعاء لك سيدنا أستاذ أبو صالح

شكراً لك أبو عبد الله

الحمد لله في Q2-2025 تظهر الشركة الوينيو الثاني الثالث عام ٢٠٢٤ كانت تأثيراً كبيراً في الكثير من المنطقات وكثيراً في المنطقات المسؤولية وكثيراً في الإنتاج المنطقي المسؤولي الذي يساعد الشركة في التعامل معه كانت تأثيراً كبيراً في المنطقات المسؤولية ولكن إن شاء الله نحن محظوظين على أن نكون مغلقين من Q2-2025 وفي المنطقة المتعاملة أيضاً الحمد لله المنطقة المتعاملة تظهر تأثيراً كبيراً في المنطقة المتعاملة وفي المنطقة المتعاملة تظهر تأثيراً كبيراً في المنطقة المتعاملة وفي العام الأخير، نحن أيضاً نتبع المستوى لإعادة عملية الإرشادات EBITDA has been also coordinating with the growth having been the revenue and the managing of the services has been increased compared to the 60% compared to last year, which is our target and within the group to be achieved, especially with the target that has been focusing on JIP and the practice. Net income has been driven also by the increasing in EBITDA and also by supported by the Murabaha deposit the company has been investing in the cash. هذا من ناحية البياندي، إذا كان هناك أسئلة يمكن أن تجيبها

كم مرابحة؟

مرابحة 10.1 تقريبا

والبياندي حقها كم أصلا؟

يجب أن نعود لتقريبا

إذا قمنا بإقسال المرابحة، كيف سنفعل ذلك؟

ونحن نتحدث عن 10 مليون في رابحة. ونحن نتحدث عن 6 أو 7 مليون في رابحة. لأنه لم يكن مستقبلاً لتنفيذ الريتات التي قمنا بها في عام 2024 و2023. لكن الحمد لله استمرت الريتات الموجودة. والتجميع والمال المستخدم في طريقة جيدة. ولم يكن مستمراً للمجموعة. نعم، أجمع الأموال، الحمد لله، الأموال تقاريراً من الأموال، وإنما الأموال الأولى تتحرك مع المال والمال الذي يمكنه أن يكون مستقبلاً. والمال اليوم والمال الذي يمكنه أن يكون مستقبلاً، ومع ذلك تقريباً 300 مليون. وكل هذا يكون مجرد تفاعل، نحن نحاول أن نقوم بإقسام المال الذي يمكنه أن يكون مستقبلاً، ويجب أن يكون مستقبلاً، ويجب أن يكون مستقبلاً. والمال الذي يمكنه أن يكون مستقبلاً يجب أن يكون مستقبلاً، ويجب أن يكون مستقبلاً، ويجب أن يكون مستقبلاً. For the non-current, there is no increment in the coverage expansion or something like this. For the liability, even so, the increasing in this liability has been increased due to the lease liability for signing the contract with STC headquarters at the last year, which is increasing the liability due to the period of the contract. From an aging perspective, there is no major changes, especially that the increment that has been having related to the business has been increased in the half one, and even the backlog that has been coming from the year into Q4. However, the company is trying to follow up in the collections and updating all the cash that is related, especially in the related parties. سيد الرئيس، لا يوجد سؤال يمكننا الوصول إليه من خلال المنظمة الخارجية، ربما أريد أن أتحدث بسرعة عن السؤال الذي أصدره من خلال المنظمة الخارجية، كان هناك خمسة سؤالات، أولاً كانت تركيزها على نظام التعريف الذي لم يكن لديه الشركة، فقط نظام التعريف الذي ينشر التعريف والفلو، والذي يستطيع التعريف من العام الأخير.

أيضاً، تركيزها على نظام التعريف الذي لم يكن لديه الشركة، فقط نظام التعريف والفلو، والذي يستطيع التعريف من العام الأخير.

ستكون هذه الموضوعات مهمة ولكنها غير ممتازة لسلماء

حسناً، حسناً، ولكنهم لم يضعوا في العرض الردود، صحيح؟

لا

حسناً، دعونا نسمعها منهم، الله يعافيك، وبعد ذلك نعود لنرى إذا بنناقشها معك

وعندما تكون لديك أي قمة قبل أن تدخل المستخدمين

هل يوجد أي شيء يجب أن نذكره في الموضوع الثاني؟

نعم، يوجد أي شيء يجب أن نذكره في الموضوع الثاني؟ يمكن أن يتواجد أجداده مع بعض ملاحظاتنا السابقة التي أشاركناها فيما يتعلق بالإعجاب ويوجد أيضا بعض الملاحظات التي تتواجد مع المستخدم السابق وسيشرحها للمجتمع المستخدم إن شاء الله خلال هذا الاجتماع worth mentioning حنا وردي خذنا management letter من previous external auditors شغالين مع الشباب هنا خلال السنة هذي we will have update عليها we will inform اللجنة إن شاء الله خلال الاجتماع القادم

بسم الله الرحمن الرحيم تمام

بخلال الاجتماع القادم

ايوالله الله عافقك

بس قبل اوضح فيه العنوى الحديدى كيس اي بارتنر هى وانتو جوين ديس ميتنغ ودى صاينة بارتنر طبعا هى هاز اسكين دا ايدي ايه الله يحييه بس كيف كن دخل هون

اتمنى بس خلوك يدخلون بالله في اللوبي

نياكا وداكا. يزيد عدد بالشباب بلا الله عليك. عافية. معنا معنا مازل عمرين انجاجمنت اند سانيك باتنر. اه فور ديس تي سي جروب. انت فور سيرارونسو. انت معنا انور حدادى. الال كي اس اي اه اه اوديت ليدر او شورنس ليدر. او رينج اند او دي جروب باتنر. انت شرطة فور اودي جروب. انت محمد جنيف. تنججمن تايريكتر So, Junaid, if you can start.

Yes, ma'am, please. Yes, assalamu alaikum. Thank you, Mr. Chairman and the committee member for inviting us today. Today, we're going to present our review procedure performed and the result of our procedure. And also, we're going to take your question, if any, related to our review procedures.

i'll deposit to donate for the presentation uh sorry um thank you everyone uh for giving us the opportunity to present our report so i'll start with the scope itself uh first of all um it's a review uh in accordance with isre 2410 as endorsed in the kingdom uh as you would be aware our review is substantially less in scope than an audit itself overall in terms of the status of the review we have you know substantially completed the review itself and subject to the outstanding items our conclusion is unmodified on the interim condensed financial statements itself Just a note to make over here, we will be adding another matter paragraph considering that this is our first quarter itself and the predecessor auditors were different for the previous quarter and the previous audit itself. I won't go through this whole slide. Just one thing to point out over here is that we will be presenting an audit plan around Q3 and Q4 on the way we will be conducting our audit, annual audit itself. In terms of our approach, we have selected a materiality of around $6 million and the threshold above which we would be reporting any misstatements to the Audit Committee is around $300,000. This materiality is effectively based on revenue itself, so we've selected the revenue as a benchmark to determine our materiality itself. Moving on to the significant counting and review matters itself, just a note to make over here, not all of these are issues, some are recommendations from our side, and none of the points mentioned over here are impacting our review conclusion itself, rather they are more of enhancement related items itself. So, for example, if I start with the first one, which is the revenue system, currently management does not have a system on which basis it records its revenues itself. I mean, there is an ERP, there is a GL system, however, there is no specific revenue-related module, which we recommend that management have in order to have better audit trails and visibility on each of the projects that are ongoing itself. Moving on to the ECL model itself, the model itself is aligned with IFRS 9 itself. However, we recommend that the company segregates its customers between government and private because they would obviously have different risk profiles itself.

But if you allow me here, I remember, Yazeed, we have discussed that in our previous meetings that we should segregate between government-related party, I mean STC Group, and other clients. And if I'm not mistaken, we were told that this is the case. So is this comment still valid or are they talking about something else?

this is the first time regarding the differentiation between those things previously was the previous comments from external previous auditor was relating to the pure rate that has been used in the discount the internet daily i'm talking about the acl right yes they say yes but the previous comment now the recommendation is from deloitte is regarding the government and enterprise since previously we didn't have any historical for default especially so we was having them in one group inshallah in the second half of this year we are updated we have we will have a new model for acl that has been built with the new practice and updated practice especially it is aligned with the group that will be covering uh even the related party and the government in cds models and the best model that has been used so this is what we aligned with external deloitte that inshallah from next quarter that we will update the model with the new and which will be covering segregation between the the three models of private and inter uh related party and government

So, moving on to contract assets itself, regarding the model on the ECL model on contract assets, we've discussed this with our experts who are of the view that this is not aligned with IFRS 9. I understand management's consultants have, you know, given this model to management itself. However, we've reviewed this ECL model, and we believe that it's not in line with IFRS 9. In order to conclude with this quarter itself, we've done an independent parallel computation itself, and the figures that we have arrived are not significantly different from what management has. So, we have concluded on that basis. However, for Q3 and year-end itself, we recommend that management adopt a different approach itself on contract assets ECL itself. can you explain how it is not aligned the previous one okay so normally when we talk about uh i'll talk about the three critical elements of ecl itself so the first one is the exposure at default so in this we do not take the full exposure at default like the closing balance itself rather we are taking it based on the percentage of completion itself so if my total exposure is around 86 or 44 million itself i am only taking the percentage of that which is i mean we're determining a percentage of completion and that's how it's being determined itself which we believe i should not be the case rather we should take the whole closing balance as the exposure at default The other item, LGD, again, you should have a better process to determine the historical loss rate if the amounts have defaulted and not base it on the collections itself. So LGD is loss given default. So you should determine the LGD based on the historical defaults itself. How much was recovered post the default itself. the last thing is around the probability of default this is based on macroeconomic factors based on GDP which is normally not the case rather either it should be a flow rate or it should be based on other credit rating policies itself but just to reiterate what I have said earlier we have done our own independent competition the amounts are not significantly different because the profile of the customers is mainly government and you know large corporate customers itself so the amounts would not be significant itself So moving on to the fourth point, which is around the rental contracts, just for the committee to be aware, there are certain lease centres which management has leased. I think this has been going on since 2023. Management is still in the process of signing these contracts. Our discussion management has stated that they don't expect any major adjustment once these agreements are finalized. However, we should be aware that there might be adjustments once the rates are finalized for these leases itself.

Is it a related party, those leases, or external?

Yes, this is from Center 3. Yazeed, if you can correct me if I'm-- Related party, yes.

OK. And it's not a big amount, because this is a rental leasing for the stock sale that we have. So we have to pay a huge amount. however we accrued from the last two years we are throwing the amount in our bn day

okay yes so moving on to the last point which is around revenue itself so there was a major agreement that was in process at q1 was still under process and which was finalized in may 2025 itself so what has happened is that the five month revenue has been recognized in one month itself whilst under ifrs 15 this would be appropriate uh considering there was no agreement before that however it has distorted the financial statements in terms of the margins between the quarters between q1 q2 so it has it is our recommendation that you know management be more forceful in ensuring that you know these contracts are signed in a timely manner to ensure you know quarter by quarter revenue recognition itself

اسمعني، هل هذا لأن الأشهر تعتمد على الأشهر الماضية أو الأشهر المقبلة؟

على الأشهر الماضية الخمسة، نعم حسنًا من يناير إلى يناير

ماذا؟ يا أبو البندري، لم نقوم بذلك طبعًا لدينا تحديث عن السيسيب، يا أبو البندري خمس الشهور الأولى لم نقوم بإصداره لأننا لم نحصل على الـ PO في ذلك الوقت وقمنا بإحصائها في مايو حيث أن الخدمة بدأت من جنوبي كنا نتأكد أننا كنزيربتين في تصوير أي شيء حتى نصل إلى نهاية التجارة ونظرنا إلى أن هذا النوع من التجارة يجب أن يكون مغلقاً قد يكون هناك تأثير كبير على النطاقات التصويرية نحن نقوم بالتواصل مع السبسكرايب نحن نتبع هذه الملاحظة نجد طريقة لحصول على ملاحظة مباشرة لحصول على ملاحظة مباشرة

أذكر القصة كنا نتحدث عنها في المقابلة السابقة نعم بالتأكيد

لو سمحتوا لي على موضوع دي دوز الاتفاقية توقعت لمدة سنة

إلى نهاية ٢٦

ممتاز

يعني أنا الآن نشتغل على ٢٧ and onward يعني POS ما تطلع من STC إلا في March time I don't need Q1 of ٢٧ يكون في مشكلة نفس المشكلة We are not recording revenue حكمنا process

yes so so that's all there are no uncorrected misstatements that were noted during the quarterly review and I won't go through the appendices itself however we're happy to respond to any questions that you have on these

appendices just have questions on the financials itself itself can anyone please shed some light on what's going on with the operating cash flow for the six-month period because it's a negative 180 million uh yes so uh there is and there is a low in collection

uh compared with the previous years and this year so our ar was around 340 million mainly it was driven by the group 200 million out of these 300 is from the group hundred hundred left we did one room last two months and we have been trying to close this and this issue alhamdulillah all of these invoices there is no issue it's only a collection process that need to be followed uh from in in july itself we have been collected around 54 million and we are expecting a hundred on august inshallah these with others with other collections during the service inshallah will enhance the cash from operating services it is lead you to the cost of payment for the windows switching the q1 and the bonus payments and the low collection during the half-life

aging table uh doesn't trigger that there is uh challenges in a collection

the one presented earlier it's showing a huge increase comparing with the organic balance of 2021 2024 25 so it was 210 last year and we are reaching 340 now

when i see the cash flow statement i see a significant item as the payable itself are you accelerating the payment because it's more it used to be six million uh compared to last year now it's 93 million negative outflow

The spike of revenue came in Q4 2024 that was having a lot of system integration project where was the payment of these mostly are mighty days. So the execution of the payment rate was executed in the Q1.

This might need a deeper dive from Abu Abdallah but negative 180 million of operating cash flow. Something not necessarily compared to a positive $60 million last year is not something. It's something alarming, I would say. So maybe a deeper dive, a closer look from yourself as well. I'm sure there might be justification, but I'm sure this is not, or I hope it's not a continuous trend because you have profits, no cash flow. That means we are heading into some problematic financial situation, God forbid. إذا كان لأحد المشاركين أي أسئلة أو رسالة ، فأنا بخير بالأموال

لدي سؤال ، إسمح لي ، سيد الرئيس حسنًا في السلايد الثاني ، في الـ Gross Profits اتكلم في الفولفا ان شاء الاش اسمو ستيت مرحبا بكم

- ماضي بولبندري؟ - نعم

بشوف في selling and distribution expenses للسنة الماضية ديست اللي موجود هنا اللي هي خمسة خمسة مليون وثلاثمية this is for the full six months so in principle it should include the previous quarter ولا لا؟ ك-expenses

sorry بولبندري يعني you mean the 5.3 for 2024 نعم، هذا للسنوات المجتمعية

فأنا جالس أقارن وقلت جالس أشوف يعني لو بلاحظ اليوم الـ 6 سنوات من أو 3 سنوات فيها تقريب ما بين 24 إلى 25 بـ 5 مليون بينما بـ 24 أنا حاس الرقم هذا of ما هو أحاس أنه في شيء غلط، ما هي قاعدة تركب هذه الأرقام الصراحة هل يمكنني أن أشرح هل هذه الأرقام صحيحة؟

الأرقام إن شاء الله صحيحة، ولكن مقارنة هذه الأرقام، منذ أن كانت تشغيلات الـ ECL تحتوي على تشغيلات تشغيلات في الموقع في عام 2021 و2024 كانت تشغيلات الـ ECL تحتوي على تشغيلات تشغيلات في الموقع لذلك المزيد من الـ 3 أشهر من الـ 3 أشهر كانت فقط لـ 300 أشهر هذه هي المسؤوليات، صحيح؟ هل تفهمينها بشكل صحيح؟

لكن اليوم تقول أنها كانت فيها تغيير يعني ما هو الكورتر الذي قبله كان فقط 300 ألف أو 200 ألف والفرق البسيطة

نعم، نعم، كانت فيها تغيير للـ ECL

حسنًا، هذا يشرح الأمر حسنًا، هذا هو المجرم. فعليًا، التأكيد من المجتمعات المتعلقة في الصفحة التسعة أتوقع أننا تحدثنا عن هذا في مستوى أعلى، لكنني أرى جمعًا كبيرًا، خاصة في الأشياء التي تحدث عنها من المجتمعات التسعية فماذا سنفعل عن هذا؟ هل لدينا أي خطة أو شيء نعمل عليه، أم أن هذا سيكون تريند؟

نعم إن شاء الله نحن قد حصلنا على تحديث من الستي سي والتي كانت مهمة كان هناك تحديث من الستي سي كانت في خصوص بعض البيوهات وفي خصوص البيوهات الحمد لله حلت المشكلة قبل شهرين حصلنا جزء من الفلوس في نهاية جولاي والباقي جزء منها الآن في أغسطس نحن نتوقع إن شاء الله حصلنا من الستي سي في شهر جولاي تقريباً 33 مليون نتوقع إن شاء الله في شهر المئة وعشرة في أغسطس إنها تتقفل من هذا البالنسي يعني هذا الآن اليوم البالنسي تقريباً فيها 180 مليون اليوم وكفى عند تشير بسيط المشكلة كانت

يعني بس الكون تمام

إذا ما في أي أسئلة للأودتر يعني يعطيهم العافية نتشكر منهم وإن شاء الله بداية موافقة لهم مع الغروب ومع سرار فوذات يعني ذا الكميتي ممبرز ما في كومنت ويبروف دا فاينانشلز

يعطيكم العافية مستر تيرمان و خلاص ممكن ننسحب احنا ان شاء الله شكرا جزيلا شكرا شكرا جزيلا و خالد

طيب we're gonna move to the second topic dear Mr. Chairman and committee member the second item as part of the direction that came from the chairman at the beginning of the year to review in regular basis the strategic authority metrics which will enhance eventually the operation of the company and support the growth of the business plan that we have at Sarabia CC we're coming this meeting with five recommendations of enhancing five strategic authority metrics and we're seeking your endorsement before we go to the board for their approval I'll go quickly through those five strategic authority metrics I have with me who might support me in case there is any questions so the first one related to the decision theme of the business management and it's related to a strategic authority metrics of project RB whether we go or no go usually when we go and do the tendering process and we bid or we submit our proposal for any projects there is an authority today cap the CEO to a 50 million and also the approval of 100 million within the NRC authority we're kindly requesting because our business is growing and now we're bidding for higher projects which up to 100 and 150 million so we're kindly requesting to increase the RFP amount go or no go for 200 million at NRC level and for the CEO to be below that amount which is below 200 million so this is related to the first authority meeting that we are requesting to enhance our current process at home at NRC up to 100 million endorsement by CEO and approval by the board of directors what we are requesting here for the projects up to 200 million we need the endorsement from the CEO and approval from the NRC and EXCOMM

إذا سمحت لي أبو خالد، وش علاقة الـNRC بالتندرينج هذا العربي؟

إذا سمحت لي، أعتقد this is creating a confusion. It's not NRC, it's EXCOMM. So the EXCOMM oversees it, it assumes two roles. It assumes the EXCOMM role and NRC.

So it's not... It is EXCOMM, yes.

It's EXCOMM.

حسناً، هم مع بعض مع بعض، نعم، جنة واحدة

هل لدينا تقرار على عدد الديزل الذي يتعدي لمئة مليون في الفترة الماضية؟

نستطيع إحضاره من الأعمال الأعمالية، ونستطيع إشارتها معكم من خلال الإتصال لكن في بداية السنة

هل يمكننا إحضاره بطريقة تقرارات؟ مثلاً عندنا الآن مع دي سي جي آر ومنظومة المالية عندنا مع اتفاق درول ستي سي هذا يحكي لفوق الـ فأنا عشان نطلع بالأول بورشن في اتفاق مثلاً درول اتفاقية لطارية اللي مع ستي سي I need to go back every time and seek approval يعني صراحة ما تتشانج والمجرد يمكن من اتفاقيات لطارية تجي عن طريق الزمرة في ستي سي في الـ EBO so sometimes it holds our agility to go or not to go here is just a question: shall we bid or not to bid?

yes if you go to the second slide it's linked to this one we said that the value of the deal is above 200 we request an EXCOMM approval we are saying here is that the value up to 200 million we are changing the authority to be approved by the CEO today the current authority the CEO honestly has up to 50 million in any deal whether to go or not if we raise the NRC above 200 we want the CEO to have it up to 200 million to decide for this deal but this is the first or third matrix if you have any questions otherwise we will move to the next slide

أنا أعتقد الأول، ما عندنا كوادة كوميتي، الثاني اللي بعدها، هذا it's a business, more business decision, it should be supported with analysis ويكون لأنه above 50 million كان صلاحية البورد، فالبورد want to delegate to CEO أعتقد أنه يجب أن يكون مدفعاً للإجراءات العقود لترى هل هو يعني دائماً هنالك 2 مرحلة إما أنه يجب أن يكون مدفعاً للإجراءات العقود إنه لا يريد أن يأتي لي كل يوم طلبات فهي بزنس كالطبيعي أو الثانية هو التحكم إنه العقود هذه مهمة كم مرحلة تحصل عليها؟ فهذا الإجراء يحتاج لهذه الصورة أنا أتكلم كأوديت كوميتي من نظرية التحكم لا أملك إجراءات بس الـ Approval Needs Supporting Analysis To Justify هل هي الشغلتين اللي ذكرناها

We'll work with the business operations and we'll create that analysis and we'll present it to the board

يعني أنا في البورد ما أذكر جاني أصل موافقة فوق الخمسين في السنة اللي راحت يعني السنة كانت لما جاني فليش أغيرها

صحيح نحن نتحدث عن المستقبل وكما تعلم بسلمان السنة هذه نحن ندخل في مقابلات كبيرة

أنا أرى أن مي أدفايس خلها لين يعني يشتكي البورت من الفوليو أو الإكس كوب فإنهم يطلبون التغيير لأنه هذا ما حيجي كل شهر عقد بـ 200 مليون أتصور إذا جاء مرة في السنة أو فوق الخمسين مليون يعني كم عدد عدد كبير؟

كما توضح ومعقوة يعني احنا كمشاريع مطروحة في المعطلة يعني هل يجب أن نذهب ونتحدث عنها وندرسها أم لا؟ هي هذه الفكرة من الوثائق

بس ما قد جاءت في البورد أتذكر أنا لما كنا في البورد ما جاءت او إذا كانت مع لكسكوم إذا هم مشتكين أنه الفوليوم عالي عليهم في لكسكوم فبالتالي هذا هو الوصول لهم ما عندي مجال كود كوميتي

ذكي مرة مع سدايا وسلمان بداية السنة كانت فوق الـ 50 مليون فا كان في زي ملاحظة من الشيرمان while you are coming to us for this kind of thing that's an operational activities it should be within but the fact is انا بنتجع I think we need to take your comments into consideration بس إنه المجورة يمكن 95% من تلك المشروعات هي من خلال STC حادث أن نأخذها عن طريق الزمرة في STC ما قد يعطي نوع من التفاعل حتى من القطاع من الخلصر عندنا في STC أحياناً يقولون لنا لا تذهبوا إلى هذا المجال اذهبوا إلى المجال الآخر لكن فيها أحياناً عملات تنفيذية لكن الرسالة التي تأخذناها، نحن نأخذها ونقوم بمعرفةها وسنظهر بعض التفاعلات كم هو المتوقع، ماذا هي اتوقعاتنا ونعود إن شاء الله للمجال

حسناً مرحباً بالخطوة التالية

لو سمحت لي إيزا أعطني 30 إمكاني أن أقرأ الماتريكس الموجودة ولم أحدد إيه عقب السنة أو مجمل العقب إمكان هذا المكان يمكن أن يكون 50 مليون أو 200 مليون إذا كان عقب السنة أو العام

ألا لا ألا لا. مفتوحة لك. إذا كانت السيدة نمبر ثلاث سنوات. يمكن أن تغلي عادة العقود تكون ثلاث سنوات. لكن هنا لا يوجد حد.

أعتقد تحديدها جيد. لو كتبت contract. سيكون مفهوما. لإنطلاق المشاركة.

بمعنى ذلك، هذا سيساعدنا نحن سوف نقوم بالتوضيح في تصريح التعليقات

يعني بخارج لو صارت 200 مليون في الثلاث سنوات ما يعني تقريباً 65 مليون في السنة قد تكون من خلال اتصالي التثورة، إذا كانت إما تفضلوا الزملاء ويكابت على سنة معينة لن نفعل ذلك

حسناً، نحن في المرحلة التالية هنا، نتحدث عن نعم، نتحدث عن الكي. بي. سكور كارد لـ L1 وهو رابط مباشر لـ C.O. واليوم الـ 6 واليوم، الآن، الأسلحة الثانية في C.O. تفضل الكي. بي. سكور كارد ثم يجب أن نذهب إلى الـ NRC و الـ S.C.O.M. لإدارتهم

انا ما عندي مجرد اضطهاد، هذا موضوع من نظر الانترنت من نظر الانترنت، يعني انا اتكلم شخصياً ما ادري اذا احد من اللجنة عنده رأي ثاني

بس من نظر الانترنت ما عندي مجرد اضطهاد عليها

اوكي اكيد

بس بنسمع اذا احد عنده يعني تعليق او شي مهم ناخده رأيه

أتفق معك أبو سلمان أنا يوم قرأتها فعلاً حينما ما في مشكلة بس أعتقد لازم نروح للأكس كومبو

اللجنة المعنية صحيح

حينما لنا علاقة فيها هو أمامنا نحن بنيجي لأودت أنرسك كوميتي لنو بارت من الكي اسك نحن يجب أن نحصل على المشاركة منك قبل أن نذهب إلى الطريق التالي فإذا لم يكن هناك إجابة يمكننا التحدث مع المشاركة إن شاء الله طيب بالنسبة للطريق التالي

عفواً بس مهم أنه تعليقنا أنه على كل موضوع إذا طلبنا التحليل أو no objection from control and we leave this matter to the board يروح مع الـ endorsement يعني بس عشان board يأخذها في العمل يعرف وش ناقشنا ووش اللي ما ناقشنا يعني خاصة في الـ resolution

- Definitely, we'll note it. In this, another one, here we're talking about the strategic workforce planning, which mainly creating how many headcounts we need at Seraba STC to run a business plan. Just for your own record, we have done this exercise one time through the previous five years. Here we're requesting to ease in the process that the approval for the strategic workforce planning to sit at the CEO level. We believe this is a pure operational activity, and it's cascaded from the approved business plan that get endorsed by NRC and XCOM and approved by the board. After we get that business plan, if there is a need to do workforce planning, then we conduct that exercise, which happened only one time through the life of Serar by STC typically.

That's pure operational, actually. The ask is to get, I mean, the board is just approving it. الـ plan at high level من تنمو الـ cost then the how distribution يكون عند الـ CEO الـ distributed بناء على الـ business dynamics

يعني هو بس الـ concern أنه موضوع الـ headcount مربوط it's the driver or the key driver of الـ cost structure حق الشركة فالبلان هذا ضروري، يعني إذا أنا فاهم صح أنه أبروض العدد الموظفيين التوظيف علاقته مع البجت ضروري يكون مع على الأقل الـNRC for endorsement يعني من نظر البرفورمانس مجدداً هذا موضوع XCAM NRC و موضوع من نظر البرفورمانس لا نمتلك ملاحظة

يمكن أن نرى أبو سماد نفس الكلام أنا يوم شفت أسبيون الـ NRC أعتقد أنه جيد أن يكون الموضوع على اغتلاع المعلومات

و عندما ينتهي البرفورمانس يكون على هذه المشكلة بالتأكيد، فعندما يتم تحديد البرفورمانس سنقوم بتحديد البرفورمانس و الـ NRC بالتأكيد حسناً، أعتقد أن هذا كل شيء أبو عبدالله، هل لديك أي خطوة أستراتيجية؟ حسناً، هذا هو الرقم الأخير لذا، كي أتأكد لا يوجد ملاحظة من مجموعة الراحة والخطوة على هذا البرفورمانس سوف نحصل على رسائلكم وسنقوم بالنظر إلى البرفورمانس وتقوم بإعطاءها للبورد لحصولهم على التحديات الأخيرة Okay, that's all from my side. Thank you very much. Now we're moving to the next topic. This is just an overview to you, dear Mr. Chairman and committee members, because as you know, that's in the past couple of weeks we've been requesting a conflict of interest disclosure form, and here we just would like to increase the awareness and educate everyone on the call about the process that we are following at Sarawak ICC, which is cascaded from SDC group. So, for example, if there is a conflict of interest or the disclosure form has been filled by a board member and there is a conflict of interest has been identified, then an input would be reviewed by Sarawak GRC. It would be approved by a group legal and risk unit at SDC group and briefed to the general assembly at Sarawak ICC, which is the group CEO at SDC group. For the same similar exercise for the CEO, it will be reviewed by Sarawak GRC, endorsed by SIRAR audit and risk committee, and approved by a board of directors. For the executive CXOs at Sarawak ICC, it will be reviewed by SIRAR GRC, endorsed by audit and risk committee, and approved by a board of directors. There is no kiosk on this slide. It's just increasing an awareness and educating all members at committee in Sarawak ICC.

يوجد شيء يذكره خالد؟ هل لديك نظرة على تحديث عملية تحديث عملية التحديث؟ نعم أعتقد أننا لن نستطيع إيجاد نظرة على تحديث عملية التحديث

ربما يكون هذه نظرة على تحديث عملية تحديث عملية التحديث لدينا نظرة على تحديث عملية تحديث عملية التحديث وهي مجموعة جميعاً مع نظرة على تحديث عملية التحديث ونحن نقوم بالتدريب بشكل عام على كيفية إيجاد نظرة على تحديث عملية التحديث لم نرى أي حالة في الأخير 4.5 سنوات وإن شاء الله سوف نستمر في نفس الشيء ولكننا لدينا هذه النظرة على تحديث عملية التحديث

عزيزي، نحن نعمل الآن بوجود زميلتنا الجاهرة لتحضير جميع المواقع التحضيرية من ضمنها البيزنس افكس، حتى كان بين أخونا أبو لانود أبدالله ديسكيشن في الانترنال أودت، لتحضير جميع المواقع التحضيرية موجود عندنا وصف بلوينغ، ما كان فيه صراحة شيء مهم ربطته، يجب أن نحضره إلى اتصال المجموعة وإلا سنستمع للحصول عليه لكن قد تكون الأجهزة لا تساعد الناس على التحدث لهذا السبب، نحن نحضر الآن كل المشاركات، وإن شاء الله نجعلها مفيدة ومتفاوضة ومتفاوضة جميعاً في المجتمع الله يقويك

حسناً، لا يوجد أسئلة من التعليقات في هذه الصفحة

لا، لا تسمح لي بخالد شكراً أسمح لي أبو سلمان، أعضاء اللجنة تعقيب بس على صلاحيات اللجنة في الصفحة السابقة الآن هنا عندنا واحدة من مشاريع المراجعة اللي نسويها هي وطلعت على بعض الخاصة في اللجان واحدة من مهام لجنة الـ هي طلاع وتقييم حالات الخاصة بأعضام الجسد اليداء ما أعرف إذا كان ممكن يكون دور لجنة المراجعة مهو تقرير لجنة المراجعة بدل تقرير لجنة المراجعة وبدأ مرئياتها للمجلس ولجنة الـ في موضيع الأعضاء من خصوص الـ

أبو العنود أنت تتحدث عن أي كاتجورية؟ هل تتحدث عن المجلس الخاص بك أو الزيادة؟ I'm referring to the COO and the executives Okay, so yes, the audit and risk here endorsement for the blocker in terms of the decisions So you are suggesting that they don't be a blocker, right?

I would leave it to أبو سلمان وعضاء اللجنة هذا من بعض البراكتس اللي حنا شفناها إلا أنه يمكن اللجنة أن تطلع على التصريح الخاص في تصريح المشكلة لجنة الـ NRC بحكم أنها دائماً قريبة من المسؤولية هذه بحكم مسؤوليتها أيضاً مع أعضاء مجلس الإدارة ممكن يكون عندها آلية ادخال الضرر في هذا الموضوع

بس تسمح لي أبو العنود بالنسبة الـ NRC They always refer to a compensation and benefits Right? As practices While the audit and risk committee they are referring to a conflict of interest If there is any misuse or anything that need to be decided on this area or category That's why we always go to the audit and risk committee

بس طرح جزء من مسؤولياته لو نرجع للشارتر جزء من مسؤولياته هو من الطلاع أو تقييم حالات التعارض وقراءة نماذج الافصاح الخاصة بعضام الجسر اليدارة ممكن تكون هذه المسؤولية ما هي صحيحة في الشارتر الموضوع فيه فتحالي مثلا لجنة المراجعة إذا رأت هذا الشيء

احفظ الـ design شيء و review حالات الconflict of interest شيء تاني من اللي أنا شبته بخلع ضعيم كي نضيقوه إذا في حالات تعرض المصادفة أو غيرها تجد المراجعة الدزاين والأمور هذه بالمنافسي والشغل المقاومة

بالتأكيد ، إذا كان هناك قرار ، سنكون أكثر من سعيدين في تحقيقه ورؤيته لذلك سأعطي هذا للسيارة والمشاركة

عفوا ، لكن أود أن أرى مقترحكم مرة أخرى

مقترحي هل قرار اللجنة تسجل في مواضيع المقاومة عندما تتعلق بالمؤسسات الاجتماعية والمؤسسات الاجتماعية او تقوم بمشاركة الامدامريات

بمعنى ما تتم التعيين او العرض المواقع صحيح؟

صحيح انا فعلا هي تسجل عندما تتعلق بالمؤسسات الاجتماعية

يعني لانها تسجل في المواضيع عندما تتعلق بالمؤسسات الاجتماعية الـ control أنه spotted و الـ process موجود لكن القرار هذا قرار business هل المجلس أو الـ X-CAM يريد أن يكمل في العمل والعقود هذه رغم وجود التعارض هذا قراره هو لكن إذا ما في process هذه مسؤولية من مسؤوليات اللجنة هذه weakness of control فأنك يُبلك مثلاً someone to be a member of a committee or a leg of a contract I think this is a business decision

it's not a control

فممكن تكون جزء من أعتقد الأخوان في الجيارسي لصت اللي تعينت حديثاً ممكن تناقشونا مع الجروب and research it internally and come back with a proposal. I mean, you heard the discussion and the proposal from Abu Al-Anud.

Come back to him in the next meeting. No, very clear.

Sir Chairman, if there's nothing with the management, أسأل إنك لا تحتاجني أو الأخوان أو الأخوات

يعطيهم العافية

شكرا لكم جميعا العافية

في جون ل executive GM N-1 اللي هو reporting لجنة تقريبا equivalent اللي اللي هن فيه كان مراجعة داخلية سابقة كان خمسين خمسين في المية corporate objectives وخمسين في المية functional objectives حاليا تم التعديل عليه بحيث انه يكون ستين في المية corporate objectives واربعين في المية functional objectives هذا design الشركة للN-1 اللي يستغلون under the full supervision of CEO أيضا عدلت اللجنة على financial contribution في KPI's بحيث انه صار بدلا ما كان اربعين في المية صار او ستين في المية صار ثمانين في المية financial contribution أيضاً عدلت على موضوع 360 فيدباك بلوس دايريكت مانيجر كان 20% من the whole scorecard dedicated to 360 performance و direct manager performance حذفتها اللجنة و قالت ما عاد نحتاج subjectivity في التقييم من الأشخاص نحتاج more into corporate objectives حنا طلعنا في شي بلند اللي طلعت فيه اللجنة التنفيذية و يتوافق مع المراجعة الداخلية بحيث مستقلاليتها و موضوعيتها فنقتل أن يكون ال corporate performance الخاص في المراجعة الداخلية 90% functional اللي هي functional KPIs و 10% تبقى مع audit committee members

اللي تقييمهم مخرجاتنا

تقييمهم مشاركاتنا تقييمهم leadership تقييمهم في عدة عناصر وأيضاً من الأشياء التي أخذناها في الاعتبار أنه لا يصلح أن ندخل مع الإدارة التنفيذية في الـ "Corporate Objectives" لأن الـ "Corporate Objectives" فيها "Financials" فيها "بيع" فيها "Operation Objectives" وفيها "Operation KPIs" فهذه تأثر على موضوعيتنا واستقلاليتنا فسابقاً منقشنا هذا الموضوع على لجنة سابقة لكن إحضاروا المقام هذا مرة ثانية المختصر لنا مقترح بيكون 90% كوربت و10% سابقا كنا ماخذين 80% فونكشنال بجيكتس و20% عند اللجنة لكن اتساقا مع توجيه اللجنة التنفيذية بحيث انه يكون تقليل السبجيكتي في التقييم نزلناه من 20% الى 10% تكون في يد اللجنة

ونسوي لهم ان شاء الله خلال نهاية السنة

سربي كلاه خفيف يساعد نظام اللجنة بتقييم مخرجات المراجعة الداخلية هذا فيما خص الفريمورك كهكل ما ينخص الكبي آيز نقصناها من 11 طلعنا في 7 اللي هي execution of the plan will add hooks to advisory services to more impose engagement مع المانجمنت to provide advisory services as key to services of internal audit الobservation closer follow up, making sure مع المانجمنت they are on time they are closing the observation and they have a rationale for any postpone الplanning activity 20-26 والfunctional quality دائماً التاركت حقها نكون fully adherence to the internal audit standard ايضا للتراؤدستراتيجي اكسيكيوشن والبيبل اندكس هذا نازل على جميع الاجزاكتيف في الشركة هذا البروبوز اللي طلعين فيه الخطة كتارجت 9000 ميان خلصها هذه السنة بيس اون بنش مارك صراحة سونا مع سينترا 3 مع سي سي جروب جلست برضو مع ابو بالعزيزة طيلة عافية عبدالله المير اناقش مع الابجيكتيف والتارجت اخذ بنش مارك برضو من عندهم الـadvisory الـtargets حقنا 15% من الـplan to be dedicated للـadvisory services أيضا الـquarter follow up 100% we have to do in a quarter base for all observations هذا الـtargets الـplan 100% يمكن الـplan السنة هذه يعني يمكن نجي للشقة الآخرة what is overachievable what is not overachievable لغة التنمية الاجتماعية المنظمات الاجتماعية التخطيط للعام القادم وفنكشن الوحيد والتخطيط للجمع الاجتماعي إذا كان لديك أي تعليق أو سؤال على الـ KPIs

أعلم من ناحيتي أني لا أفهم خصوصا أنك راجعتها مع أخونا عبدالله لا أعرف التعليقات

لا أعرف بس سؤالين لا أعافيك كيف يمكن أن يتم تخصيصك في التخصيص والصالحة؟

لدينا خصوصا 50% على المستدامة مستدامة عالية وليست أفضل لأنه يمكن أن يتم تخصيصك مع المستدامة أو لا هذا خصوصا 50% من الكبياة نحن نتطرق على 5 عدد من التحسينات التي يجب أن تكون تحسينات مرتفعة المرحلة الثانية هو التخطيط لـ 2026 هذا سأضعه بمجرد حقيقة الشركة صار عليها تحديد في المنظمة الوطنية في المنظمة الوطنية وننتظر تحديد آخر في استراتيجية الشركة إذا كان هذا سيؤثر بشكل كبير على تصميمي والنظام والتخطيط سأسأل اللجنة صراحة عن تحديات أكثر

نعم، لكنني متخوف من الهدف السابق أنا أفهم من أين تأتي لكنني لا أعرف كيف يمكننا أن نكون صادقين معك

سنقوم بالبناء

ربما أبو عبد العزيز سابقاً جربنا في المجرمات اللي نقدمها

سنقوم بالبناء بشكل صادق وكيف نتحكم في تحقيق نتيجتنا نحن لدينا بطاقة، الحمد لله كل سنة نحصل على هذه الطاقة وإن شاء الله سنكون صادقين إما معنا أو مع الشركة

أبو عبد العزيز ورحمة الله حتى تكونوا خلاصة وقناة آمان

هذا هو محاولتنا للتوضيح للتحديث المباشر الحمد لله لفضة فعلنا خمس مشاريع لدينا عمل جيد في التحديث المباشر والمشاريع التقنية لدينا أيضا تحديث في المنطقة خططنا عليها في المنطقة الثانية عندنا يمكن بس وحدة شوي وقفت في النص البورد اف فيرز حكم ابو عبدالله يعني الله يوفقه امين السير راح يستقيل راح يكون فيه هندوبر الاناثر امين سير فممكن تكون شوي فيها دسرابشن هذه الانجاجمنت ان شاء الله نحاول نقفلها خلال الكوارترام الجاي مزالية المواجعة الحمد لله we committed مع الconsulted على four engagement we will request a second mint خلال الفترة القادمة حكم في واحد من موظفي المراجعة الداخلية طلب انتقالي الى الfunction اخرى الGRC وصار عندنا vacant واحد we will refill by second mint till we have a record متشابه

هل تريد أن تتحرك إلى المنطقة المتحدة؟ لا أريد أن أتحرك إلى المنطقة المتحدة. كم عدد تقريباً من المجالات المتحدة؟ لقد قمت بإعطاء فلاجة للمنطقة المتحدة. وفي أغسطس لم نتحرك إلى المنطقة المتحدة للمجالات المتحدة. قد تحدثنا عن ذلك قبل أن نتحرك إلى المنطقة المتحدة. لأنني متأكد من أنك ستتمكن من التحرك إلى المنطقة المتحدة في الكثير من المجالات المتحدة. لما يينجي مانجمنت لوندوب أوبزيرفيشنز وريفورتات ما رح ركزوهم فكرنا يدستربيوت بايني كواتر عشان يعني ينفيهم يتنفسون ويشوفونا يعني كيف مانج على ديدلاين ايتيك ويهاب تو انتفير مناعب لازم نقفل بعض القريب عشان تطلع وقالت نتفرق او ما نجي في ديسمبر ونطلع ستة مرة واحدة هذه يعني أحرصت عليها I'm not difficult as it's

For the internal strategy سابقا عملنا مع النجنة على استراتيجية في عشرين عشرين أربع وعشرين يناير استراتيجية labeled as trust منبذقة من استراتيجية الشركة to maximize the capabilities of all excellence in everything we do We call it a trust لها five pillars لها five strategic programs لها أربعة عشر initiatives وأربعين action points نحطينا within our radar ونقعدين نقيسها وعندنا اللجنة ننقيسها بشكل semi annual وبشكل سنوي لها جزء من السكور كارد الخاصة في المراجعة الداخلية الـ Execution Solver سبعة ومئة في المئة من الـ Overall Strategy ونقدر نقول خمسين في المئة من المستهدفات هذه السنة كـ Action Point حققناها يمكن الـ Big Challenge اللي It will continue a challenge انا expecting السنة العالية والسنة الجاية هي الـ Technology Program بحيث انو الـ Technology Program دائم يحتاج Heavy Investments something يحتاج الـ Dream اللي احنا حطينا شوي يحتاج Heavy Investments So we will always have a shortage في هذا الدمية لان ان شاء الله الشركة كلها ترتقي في موضيع الـ Automation وحنا وندخل معهم في التطبيق في التصميم

هذا فيما عندك I'm assuming that the tools is already budgeted, isn't it?

لا، نحن سوينا assessment للنجنة العام الماضي فيما يخص واحد من برامج خاصة بالـ Automation وهو Continuous Control Management فأخذنا assessment لأن الشركة still not ready ما هي بمتشور في الـ Automation عشان الـ Intelligent Audit يقدر يبني tool تسمع من الأنظمة والأجهزة والأنظمة الخاصة في العمليات داخل الشركة فهذا one rationale هنا we did not invest شيء ثاني في processes كبير راح تكون outsourced STC group فبكون عندنا برضو challenge to access their own tools and systems وهذه نحتاج نخدمها اللايبت مع الشباب في المجموعة how they do it for us هذه برضو we hold this program for this rationale third rationale الـ budget كان شوي عالية اللي زودونا فيها الـ consultant يعني إذا بنبنيها نحتاج تقريبا مليونين إلا مليونين ونص for two to three years maximum وحنا ما شاء الله يعني وجدنا السنة هذي for everything خمسمئة آلاف وصراحة أنا أنا أشوف no value to invest الحين ده من الشركة أصلاً التوز ما هي بمتشور عندهم والسيستمز ما هي بمتشور

أنا ليش أسأل يعني عندي جزئيتين جزئي الأولى الـ clarity على مسألة أنه are we on track تولى يعني we are they have been completed 50% نحن في نصف السنة تقع everything should be in principle on track بس out of the five هذي هل في شي تحس إنه فيه issue هذا واحد ثنين لما أقول أبقى حقك 30% من other tools and technology وش 30% وش مقصود فيها هذي هي بس assessment والstudy والRFB وبعدين السنة اللي بعدين بيطلع شي ف what does that mean ك percentage من each لأن بعضها specific تشوف هنا 79 أول واحدة مثلاً

صحيح. هذه فيه لسة بأكسلشيت كده. هم نحطي فيها. اللي اتول ليد اس تو بشكل سنة. تو ليد اس تو ده. طيب اروي دوينج ويل خلال السنة

دوي فورسي اني ريسك على الاشياء اللي قاعدين نشتغلها خلال السنة

هذيك. انا اناو اجي سنة جاي اه نهاية السنة توب هاب ابروبوزل للجنة مناعشة يمكن بشكل اكبر فيما يخص الكنتروبيوشن او استراتيجي اكسيكيوشن وينت كومس تو انترنت اودت اه كيبي اكس ويذر ويذر ويول كنتينيو بوشيك ان انفستيك اه في استراتيجية وتكون اه اه اه كما أنه يمكن أن تكون أحد أشياء المناثرات أو تكون مناثرات مستقبلية مع قطعات يعني نستخدمها مباشرة على المناثرات المباشرة في هذه الاستراتيجية وسوف نفتحها خلال السنة القادمة إن شاء الله

الله يسلم لكم كما تعلمون، أعتقد أنكم متأكدون من ما قاموا بتحقيق المناثرات المباشرة في البدايات، أعتقد أننا نتعلم منهم أنها ستستمر في طريقة طويلة وحتى من ناحية الاستخدام، يمكن أن تسمع منهم، لا أعرف ما هو النتائج التي يمكن أن تظهر فيها

وإن شاء الله يعني هذه من ضمن الأشياء اللي أنا حاطها في البال أنه they are interested in it والprocesses بعض الprocesses عندنا راح تكون outsourced في STC group فthey are already building good base, building good technologies فthey might have agreement معاهم تفيد us on this chapter يعني الدموين هذا هو challenge دائماً باقي الحمد لله we can do, we can do, we can do well على الخير اشارة موفق يا رب النقطة الأخيرة للصفحة اه تحديث الـ Closure Rate تقريبا 30% الـ quarter الماضي كان Closure Rate كان 5% بحكم انه quarter ها دائما يكون timeline توا جديد بحكم الملاحظات اللي صدرت خلال نهاية السنة عندنا صار فيه 30% We were expecting to have more لكن بحكم الـ RE-ORG تغيرت الـ RE-ORG تغير leadership تقريبا 4 leadership من GM and chief level تغيرت الـ restructuring في الملاحظات توزعت لـ new leadership و من هذا المنطلق صراحة انه We give new leadership كان لديهم وقت للرؤية كيف سيقومون بإصلاح هذه الأشياء في سطرهم أبرز أن هذه الخمسة من الحظات مازالت مفتوحة ننتظر المناجمت تقفلونها بما تخص الديدورس المسترددة دائماً يعيد عليها فيما يخص المستقبل من الخارج يمكن أن يكون لديهم على أساسات مهمة وهذا صريحة من نظام الهيئة الأمن السيبراني يمنع أن يكون هناك دخول من خارج المملكة على أرض محساسة داخل المنشآت هذه المناجمت طبية لها رزق أكسبتنس نحن صراحة قلنا لا تدخلون على اللجنة في risk acceptance إلا لما نحن نراجع ونحن برضو نبدي رأينا لللجنة عشان نختصر ال discussion اللي صورة على مستوى اللجنة إذا نحن موافقين أو عندنا تحفظ أو عندنا risk معين ما زالت هذا ال discussion بيننا وبين الماناجمنت كنا نتوقعين نطلع مع اللجنة خلال quarter هذا لكن نجلنا من اللجنة القادمة إن شاء الله

إذا تسمح لي بالهنود هذا سؤال يمكننا لجنة عدو ثموحة حينما ما وفقنا على risk acceptance form ولا انا يمكن قاعد تراجع سلالة الفترة اللي انا فيها هل عندنا top risk stop time risk في ARM ما قاعد يجينا update كثير ممكن انا ما قصت مع عبدالله بطاين انه جانب ال risk الكمية اليوم ما قاعد ينغبط فيه جوانب ومنها هاتف يعني اليوم risk acceptance المفروض يمر علينا قبل كفكرة وحلا نحج مين اللي يوافق ليش لم يعرف علينا اي حتى لو جوانا اليوم ما عندنا basis هل يمكن أن أضرحها لسعدة الرئيس والإخوان؟ أعطيه جانب الرزق لأنه يليل الجلسة، لأنه لا يحس أن يغفر شيئا خاليا؟

هو يعني في السابق، في الدورة السابقة كان يعرض بشكل دوري، وتقدر تصححني به العنود، فجأة زي ما تفضل الإخوان وكان في المواضيع الرزق في اللجنة والمجلس أبو عبد الله نفسه اه بس اه اليوم يعني يبيلنا نرجع نشوف بشو وضعها. فليش وقفت العروض عليها وعليها رمو كانت بريادك.

ممكن اذا اذا اذا ترى هالشي يقوم سلمان اه ممكن يكون واحد من الاكشن بوينت اللي تحط في محضرة اتماع هذا وتختار فيها الادارة الفلية اه بالتأكيد على اهمية عرض النواة المتعلقة

بالالتزام والمخاضر بالحكم. اذكر انت قدمت مقترح اه اللي هو الريبورتينج. اه للاعتماد. وش صار عليه? كان بالفترة الانتقالية لما مش ابو تال اظن. او قبل قبل ان يمشي.

يمكن كان اللجتماع السابق صحيح ليبو عبدالله شاركنا مع أعضاء اللجنة لكن إذا ترون سلامة هذا المقترح اللي قدمنا ممكن نزود إدارة تنفيذية مع توجيه اللجنة حيث أنه تهتم الإدارة التنفيذية أيضا بتطبيق المقترح اللي قدمنا

إيه والله أرسل فيه ريميندر إذا أحد يبيضيف ويصير عندنا فكست ريبورتينج باك ونبدأ يعني بيصير فيه كونسيستنسي بالعروض يعني

او لو سمحت المسلمان يمكن النقطة الموجودة نشوف انها في السلايز المعروضة لا تبكي او بناء الـ Findings الـ DDoS لا زالت موجودة مع اننا نفهمت انه انحلت الى الـ 26 الى نهاية الـ 26

هنا هنا نقطة الـ DDoS الـ DDoS في الـ Review حقنا كان يتعلق على شقين حلوا الشق الأول اللي هو لكن عندنا من 2021 إلى 2023 هذا الشركة ما خذت حقها من تقديم خدمات الديتوز هنا يرجع عاد الشركة راح تطلب ومن اللجنة ومن المجلس نطالب المبالغ السابقة وهي تعادل 100 مليون على كل سنة أو نطلع في ديل مع المستخدمين حيث انهم يطالبون في 100 مليون على كل سنة وجلست مع بعضها وف لا يمكنني اخذها 100 مليون كل سنة ولكنه يمكنني اخذ فرصة جديدة للمستقبل وقلت أنا عشان أقدر أقفل هذه الملاحظة I need to give me something that's relevant to the previous Either to close it To have an acceptance with the compensated offer اللي جدك بالـ STC أو to have an acceptance مع المجلس وخلاص أنا ما أطالب في حقنا في العقود السادقة مليونة أجزاء وهذا السوق المدفع

والنقطة الثالثة sold through STC Group هل كانت جزء من الاتفاقية التي توقعتها الانسترلشنية؟

هذه STC Group

في البيزنس يبيعون

connectivity plus DDoS linked services للأسراف يبيعونها 100% discount for DDoS فحنا يجينا zero revenue من البيعات التي تبيع STC when it comes to connectivity bundle ففي دسكاشل مع الشركة الرئيسية هناك على أساس تكومبنزايت سرار على البيعات اللي صارت 100% ديسكاونتد عندما تأتي الى دوز سنت

قل عنود كان لدي ملاحظة بسيطة يعني بناء على اللي ينذكر الآن بالذات عن النقطة الثانية و الثالثة الآن قاعدين نتكلم النقطة الثانية قاعدين نتكلم عن تحصيل سابق صح؟ قاعدين نقول نحلز القادم و أنت تتكلم عن أشياء قديمة فمعنى التحدي هي تحصيل أكثر من أنها والله observation أن المفروض أنه الآن تعتمر fixed و closed بس اللهم من جهة التحصيل ما حصلناه ولا لا؟ لا مو تحصيل ما فوتر ناقصه فما يمكن حصل حصل ما في عقد سابق طيب هذا الجانب الكبير النقطة الثانية أنا برضو هنا I'm wearing the hat في STC ونفس الشي عند bid management خلاص طالع لنا توجيه الآن مع الجيف ما أعرف طبعا ليه why it's open يمكن زي هذه أشياء قديمة ولا سابقة لكن خلاص صار عندنا توجيه دافئ لأنه we will not sell DDoS with 100% هذا خلاص يعني بتينا فيها من كم شهرين حتى يجب أن ترسلوا للشباب المنفوضين

نعم، أنا أنتظر لهذا هل هذه الأحيان كلها أكثر من أربعة أشهر، أو فقط الأولى؟ فقط الأولى هل لديهم وقت لقبضها؟ ثلاثة أشهر كم من المدة المسموحة لهم أن يقوموا بقبضها؟

حنا صراحة للآن ما حطينا في Our Criteria specific timeline بالستراتيجية ما بغاكونا aggressive مع المانجمنت to have a strict timeline to close some high especially ان بعض الهاي قد تحتاج وقت فناخدها subjective ماكسيما ما نعطيهم 6 شهور then I will have a checkpoint either to have a re-target or the closing

يعني الاولى هذه مخالفة صريحة او لازم يبتدأ فيها ايه الاولى فيه عسى ما فيها لسه اعتقد it's not an option for acceptance فما ادري شو بيسوون هل حق عبارة عن ديزلاين معينة انا مو واضح فيه ان تبكي في موضوع

لان هم they will ask for acceptance for one reason هم يقولون هذولا special kind of vendor و special service مو موجودين إلا في مكان واحد في العالم والكل قاعد يسويه والموضوع الآكسس هذا المفروم من خارج المدينة حتى استسيد تسويه على المنطقات الكريمية من صعب تجيب الأكسبرت تخليهم هنا يشتغلون عندك في سعودية صعب تدفعهم لديهم تجارة مختلفة لذلك يمكنني أن أقول لك أنه يجب أن نتعامل معهم لأننا نحاول أن نتعامل معهم ونحاول أن نحاول أن نتعامل معهم ثم يقولون لنا لا نستطيع التعامل معهم هذا حتى براكس موجود في كل مكان إذا كان هذا الموضوع جيداً سنقوم بتعليقه وسنضع رسالتنا ونضع التعليقات ثم سنترك المدينة لتتحدث معكم لماذا هذا الموضوع لديكم يكفي أو لا

واو! أود أن أتحدث عن ما يقوله أبو عبدالعيب بعد أنك أعزيزي أود أن أتحدث عن ما يقوله أبو عبدالعيب أن اليوم أريد أن يكون الأحوال أكثر مؤخراً وفي نفس الوقت نحن هنا في اللجنة قد تكون في أشياء مقصورة يعني اليوم مثلاً ديدوز سولت فيه أشياء بشكل آخر يمكنني أن أقول لك نحتاج إلى البدء مباشرة الآن وبعدين نبدأ نحل الشغلات السابقة والمدى يجب أن تكون المراحل لا مشكلة مفتوحة لكننا نريد أن نتطمن أن يتوقف هذا العمل اليوم تماماً لأنه لا يوجد فيه أكثر مؤخراً سواء في النقطة الثانية أو الثالثة حتى أنه لا يوجد لدينا مقابلات اليوم ونحن لا نتعامل أو نحن لا نتعامل فإذا توقفت هذه معنات عندي الشقة الثانية ودي بهذه الوضوح والتاملينز تبعتها توقع بتساعدنا بشكل كبير

حقاً، لا يوجد اتفاوض لذلك

إذا تذكر سابقاً أخذنا من الـ confirmation من الـ management و it is minuted أنه ما في أي services provided without a contract فهذه good reference point بس إذا ترون أنه تبغونها audit assignment برضو confirmation ما يمنع

لو تسمح لي تعقيباً هذا النقطة، في Action Points، لو تصحح لي به عبدالله، في Action Points بذكرين relevant to هذا الموضوع، في الاجتماع السابق صحيح ما أعرف، أعتقد أنه ما زال in progress، لكن ما أعرف، ما أدري إيش صار به أو إذا تبقى مشاركة المراجعة الداخلية في هذا الأكشن، we can give you assurance on management response on this Action Point

اعتقد الـ Assurance يعني هو It's a critical topic ما يمنع انو ناخذ عليه Assurance انو ما في اي services يعني تكرر نفس مشكلة الـ DDoS حتى لو كانت صغيرة Just to cross-check

Sure

هذا في مطالب الـ Closure Status في الـ Activities انو نشتغل عليها زي ما تفضلت تعديل الشركة الـ Operating Model We are assessing الـ Assurance map الخاصة فينا بعد ما يعني نعبر الشركة بس فرصة تعيد استراتيجيتها تعيد بعض التاكتكس الخاصة فيها الـ Operating Model بعدها بنقيم المخاطر الخاصة في التعديل الجديد هل هي significant not significant اي المبدأ يقول not significant دي انا فقط relocating بعض الـ Processes يمكن أن نعطي بعض المعارضات للمنظمة وقد أعطيت هذه العملية في هذه السنة بحيث أننا نعطي بعض المعارضات للمنظمة خاصة مع التغييرات الجديدة والتعديلات في الـ Operating Model فهي مجرد فرصة للتعليق أن يعطي رأيه في التعديلات الجديدة في التوجهات الجديدة في التغييرات في الـ Operating Model وقد قمنا بتناقش هذه الأشياء في السنة وهذه هي أبرز الأشياء في التغييرات الجديدة أعطيكم العافية بسم الله الرحمن الرحيم وإذا كان هناك أي تعليقات أو توصيات أدعوها إلى المخدر

أعطيكم ألف عافية بالعكس العرض واضح ومع الملاحظات التي ذكروها الأخوان تأخذها في الاعتبار

أنا من ناحيتي لا أملك ملاحظات

أعطيكم العافية بوجوه لم أقصرها لكي نعيش في الولايات المتحدة

هذا يكون السبب الأخير لأبو سلمان بسبب سعادة الأعضاء إذا في أي استفسارات عامة أو شيء أو كتب الجزء المتاهي

تسمح لي بو عبدالله يمكن هذا النوت تذكر الفولو أب على الـ previous item لم أقصدها لسنة يمكن ذكره بسنة أكثر ليش ما يكون هو أول item كبير لذلك يقومون بإعواضهم في التعليقات يعني بالمستقبل يكون أول شيء الفرق على الوضع

تم، وهذا بيتطلب ممكن علي أبو عبد العزيز إنما يدخلون بالـ Management كلهم لأنه زي ما أنت عارف الـ Action Points ممكن أن فيه أشياء باختلاف الـ Departments فإذا ترون مناسبة أن يبدأ الاجتماع بعضاء اللجنة والرئيس التنفيذي ونعرض الـ Action Items in general وبعدين تنطلق اللجنة بالأجدة أو اللي ترونها مناسبة

ما في مشكلة نبدأ الاجتماع ياني ممكن ما نجمل تدخل بعد متابعة القرارات

طيب أبو سلمان سعاد العباد اي شيء اخر او قفل الاجتماع

شكرا للجميع اعتقد ضروري لو يصير اجتماع واحد حضوري ان تقابل امبيرسون ما تقابلنا ابدا بس عايز نشوف متى نسب وقت نجيكم في المجمع في الاتصالات قريبة اعتقد للمعظمكم يصير

تنورني يا ابو سلمان احنا كلنا من حصة مقابل انتم من الاسمك وحنا موجودين

الله يسلمكم ايه صيف اقل زحمة والجو سيء ولا روح الشتاء زحمة والجو زين الواحد يطلع بشموس

اشتركوا في القناة

اهلا والله وفقت العمانك ما عندنا شي بس انا شوف انا كنت حاول افهم التعليق ورجعت للسلايد

انا ما ادري انت رجعت او لا ما قدرت افهم امسكوا مشال

صحيح واللي ارسلها لك امس افراس ارسلها لي ولك ايه فاليوم انت هو قاعد يقول لك وش الوضع انا ما قدر تفهم تقدر تشرح لي احنا بنوافق بس تقدر تشرح لي ما في شي يعني احد يعطيك على مقفوك يقول انت نايم فانا ما قدر تفهم لانها مربوطة بالكيلب فما فهمت شيء

اتكلم على رشاد او تيمة

اتكلم على رشاد أمرك على ما تقرأ

أيك

In the third meeting, we will have the approval of the agenda item. After that, we will have the financial statements in the period ending on the 30th of June. Then we will seek the committee endorsement for the strategic authority matrix. Then, after that, we will have a review for the rules and responsibilities regarding the conflict of interest cases, approval. Then we will have an internal audit update for the quarter one, 2025. Mr. Chairman and members, we are seeking approval for the agenda items for this meeting.

Approved.

Sir Abu Abdullah, you have the floor.

May Allah bless you and may peace and blessings of Allah be upon you. There might be some updates that I think deserve to be brought to the attention of the parliament. Our CFO will be rotated to the finance sector in STC and a new CFO will join us in the end of this month in the group. In the next meeting, inshallah, we will introduce him officially to the parliament. And I want to take also this opportunity to thank Muhammad. Muhammad is not with us on leave. Thank you for his extensive work. Thank you. of the past, along with his team, Yazeed, and his colleagues. At the same time, our brother, Faisal Al-Qahtani, this is the last month for him, and Sirar, he decided to join other opportunities. And with that, we have our colleague, Abdullah Al-Hamdan. He will be – we are in the process now to appoint him as an acting board of security. We get the initial endorsement from the chairman, and we are in the process right now to, inshallah, to secure all the accolades. So thank you, Abu Abdullah, Abu Saif, for your work throughout the past years. You did great, frankly, and you didn't let us down. On behalf of the management, I would like to thank you for your extensive support that you provided. At the same time, I would like to introduce our new leadership, Zamiatna Al-Johara Rais, the new director of the GRC. She joined us, inshallah, to strengthen the second line of defense, inshallah, with her support, inshallah. She will take Sarar, inshallah, to new heights, giving the nature of our business, the regulatory landscape, so we're investing and strengthening our controls within the corporate, doing responsible business. Secondly, I would like to welcome Abu Mubarak Abdullah al-Khamdan, the new head of legal and regulatory affairs, who joined us. who rejoined us. He used to be part of Serar during the early days, and right now he's heading the legal and regulatory affairs. So I would like to welcome, on behalf of the management, the new leadership, and at the same time thank those who are leaving the company. I thought to bring this update to Maqam Al-Lajna before we end the agenda.

Thanks for the update Abu Abdullah, and we wish the new joiners success, and we thank the ones who joined and we wish them success, and it looks like there are many changes, God bless you. The main thing is the stability of the main functions, the finance, and the secretary has a smooth transition and handover in place to avoid any disruption, because there will be a direct interaction with us in a way or another.

If you allow me, I'd like to thank Abu Sayyed, who didn't give up during the year, he was very cooperative and careful. And of course, we won't forget our students, they had important roles, we thank them. And I wish the new members good luck, and I hope we will continue for years to come with success.

with that we'll start inshallah with our financials for uh q2 man he's the acting yes he will walk us through it then we will invite you to channel

the company has shown the post-graphic revenue against last year 2024 was major increase in many services advisory services also slight increase in system integration which is helping the company strategic versus going uh slightly differences one person comparison with the budget however inshallah we are expected to be covered by half two inshallah also in the gross profit side alhamdulillah the gross profit has shown a huge increase around 50 percent compared with the last year especially that was focusing on the company and missile services with many services that have a very high margins obviously are doing the same comparison going with the budget however we have some savings due to some delay on spending and comparing with the last year also we have been following the budget to enhance our operation EBITDA has been also coordinating with the growth having been the revenue and the managing of the services has been increased compared to the 60% compared to last year, which is our target and within the group to be achieved, especially with the target that has been focusing on JIP and the practice. Net income has been driven also by the increasing in EBITDA and also by supported by the Murabaha deposit the company has been investing in the cash. So this is from the BND perspective, if there is any question that can be answered.

How much is the profit income?

The profit income is approximately 10.1%.

And how much is the budget?

I think I have to go back to you.

So if we exclude the profit, how are we doing in the net income?

We were doing very good, and we're talking about 10 million here in Rabaha. To remove it, I think the budget was building around 6 or 7 million for the end of the year because it wasn't expected to complete the rates that we had taken in 2024 and 2023. But thank God, the existing rates have continued, and the collection and investing in cash is in a very good way. Not supportive of the group, corporate finance. balance sheet items. Alhamdulillah, balance sheet is equal to the same thing. Still, our balance sheet has been strengthened with the cash and the counter-sale bill. Our cash today and the cash deposit including with around 300 million and all has been investment. We are trying to minimize the cash, the cash that will not be free cash, that will not be invested in us to grow the things. The counter-sale bill has been slightly increased due to, Alhamdulillah, to the increase in the business. However, all our bills and has been, especially with the subsidiaries and the related party transaction, is around 20, 15 million and that is equal to the business that has been handled with the related party. From the bill to see the bill, also we are dealing, Alhamdulillah, with good business, especially with the government and we are following them that way. For the non-current, there is no increment in the coverage expansion or something like this. For the liability, even so, the increasing in this liability has been increased due to the lease liability for signing the contract with STC headquarters at the last year, which is increasing the liability due to the period of the contract. From an aging perspective, there is no major changes, especially that the increment that has been having related to the business has been increased in the half one, and even the backlog that has been coming from the year into Q4. However, the company is trying to follow up in the collections and updating all the cash that is related, especially in the related parties. Mr. Chairman, there is no comment we can have in the external auditor to join. Maybe I want to go through, very fast, through the comments that has been received from the external auditor. It was five comments, mainly it was focusing on the revenue system that the company wasn't having, only a revenue system that is recording the transaction and the flow, which is repeatable from last year.

Sorry, but when you say comments, do you mean management letter or what exactly?

The presentation that will be, significant matters, but without materialism for Salman.

Okay, okay, but they didn't put any restrictions, right?

No.

Okay, let's hear it from them, may God bless you, and then we'll see if we can discuss it with you.

And I don't know if you have any comment before we introduce the presenters.

Do you have anything to mention regarding the external auditor?

Yes, I think I have a word, regarding the internal auditor's view, we sat with the external auditor. His opinion is nothing material or the financials stated early. his comments may be matching with our uh some of our observation previously we raised regarding a revenue uh automation uh his also uh some points that's matching with previous auditor and he will uh he will explain to to the audit committee It is worth mentioning that we have already taken the management letter from the previous external auditor. We are working with the youth here during this year. We will have an update on it and we will inform the committee, God willing, during the next meeting.

Thank you. Okay.

May God bless you.

May the peace and blessings of God be upon you. But before I explain, Anwar Hadeedi, the KSA partner, he wants to join this meeting with the signing partner, of course. He has asked for the ID. Yes, may God bless them. Can I enter here?

Of course, but please let them enter the lobby.

Anwar Hadeedi, the KSA partner, of course, asked for the ID. Okay.

Yeah, can we talk about that?

Okay, yeah.

Thank you. Thank you for your time.

So, Junaid, if you can start.

Yes, ma'am, please. Yes, assalamu alaikum. Thank you, Mr. Chairman and the committee member for inviting us today. Today, we're going to present our review procedure performed and the result of our procedure. And also, we're going to take your question, if any, related to our review procedures.

i'll deposit to donate for the presentation uh sorry um thank you everyone uh for giving us the opportunity to present our report so i'll start with the scope itself uh first of all um it's a review uh in accordance with isre 2410 as endorsed in the kingdom uh as you would be aware our review is substantially less in scope than an audit itself overall in terms of the status of the review we have you know substantially completed the review itself and subject to the outstanding items our conclusion is unmodified on the interim condensed financial statements itself Just a note to make over here, we will be adding another matter paragraph considering that this is our first quarter itself and the predecessor auditors were different for the previous quarter and the previous audit itself. I won't go through this whole slide. Just one thing to point out over here is that we will be presenting an audit plan around Q3 and Q4 on the way we will be conducting our audit, annual audit itself. In terms of our approach, we have selected a materiality of around $6 million and the threshold above which we would be reporting any misstatements to the Audit Committee is around $300,000. This materiality is effectively based on revenue itself, so we've selected the revenue as a benchmark to determine our materiality itself. Moving on to the significant counting and review matters itself, just a note to make over here, not all of these are issues, some are recommendations from our side, and none of the points mentioned over here are impacting our review conclusion itself, rather they are more of enhancement related items itself. So, for example, if I start with the first one, which is the revenue system, currently management does not have a system on which basis it records its revenues itself. I mean, there is an ERP, there is a GL system, however, there is no specific revenue-related module, which we recommend that management have in order to have better audit trails and visibility on each of the projects that are ongoing itself. Moving on to the ECL model itself, the model itself is aligned with IFRS 9 itself. However, we recommend that the company segregates its customers between government and private because they would obviously have different risk profiles itself.

But if you allow me here, I remember, Yazeed, we have discussed that in our previous meetings that we should segregate between government-related party, I mean STC Group, and other clients. And if I'm not mistaken, we were told that this is the case. So is this comment still valid or are they talking about something else?

this is the first time regarding the differentiation between those things previously was the previous comments from external previous auditor was relating to the pure rate that has been used in the discount the internet daily i'm talking about the acl right yes they say yes but the previous comment now the recommendation is from deloitte is regarding the government and enterprise since previously we didn't have any historical for default especially so we was having them in one group inshallah in the second half of this year we are updated we have we will have a new model for acl that has been built with the new practice and updated practice especially it is aligned with the group that will be covering uh even the related party and the government in cds models and the best model that has been used so this is what we aligned with external deloitte that inshallah from next quarter that we will update the model with the new and which will be covering segregation between the the three models of private and inter uh related party and government

So, moving on to contract assets itself, regarding the model on the ECL model on contract assets, we've discussed this with our experts who are of the view that this is not aligned with IFRS 9. I understand management's consultants have, you know, given this model to management itself. However, we've reviewed this ECL model, and we believe that it's not in line with IFRS 9. In order to conclude with this quarter itself, we've done an independent parallel computation itself, and the figures that we have arrived are not significantly different from what management has. So, we have concluded on that basis. However, for Q3 and year-end itself, we recommend that management adopt a different approach itself on contract assets ECL itself. can you explain how it is not aligned the previous one okay so normally when we talk about uh i'll talk about the three critical elements of ecl itself so the first one is the exposure at default so in this we do not take the full exposure at default like the closing balance itself rather we are taking it based on the percentage of completion itself so if my total exposure is around 86 or 44 million itself i am only taking the percentage of that which is i mean we're determining a percentage of completion and that's how it's being determined itself which we believe i should not be the case rather we should take the whole closing balance as the exposure at default The other item, LGD, again, you should have a better process to determine the historical loss rate if the amounts have defaulted and not base it on the collections itself. So LGD is loss given default. So you should determine the LGD based on the historical defaults itself. How much was recovered post the default itself. the last thing is around the probability of default this is based on macroeconomic factors based on GDP which is normally not the case rather either it should be a flow rate or it should be based on other credit rating policies itself but just to reiterate what I have said earlier we have done our own independent competition the amounts are not significantly different because the profile of the customers is mainly government and you know large corporate customers itself so the amounts would not be significant itself So moving on to the fourth point, which is around the rental contracts, just for the committee to be aware, there are certain lease centres which management has leased. I think this has been going on since 2023. Management is still in the process of signing these contracts. Our discussion management has stated that they don't expect any major adjustment once these agreements are finalized. However, we should be aware that there might be adjustments once the rates are finalized for these leases itself.

Is it a related party, those leases, or external?

Yes, this is from Center 3. Yazeed, if you can correct me if I'm-- Related party, yes.

OK. And it's not a big amount, because this is a rental leasing for the stock sale that we have. So we have to pay a huge amount. however we accrued from the last two years we are throwing the amount in our bn day

okay yes so moving on to the last point which is around revenue itself so there was a major agreement that was in process at q1 was still under process and which was finalized in may 2025 itself so what has happened is that the five month revenue has been recognized in one month itself whilst under ifrs 15 this would be appropriate uh considering there was no agreement before that however it has distorted the financial statements in terms of the margins between the quarters between q1 q2 so it has it is our recommendation that you know management be more forceful in ensuring that you know these contracts are signed in a timely manner to ensure you know quarter by quarter revenue recognition itself

Excuse me, is this for, so the months are being counted for the past months or upcoming months?

For the past five months, yes.

Okay.

From January to May.

We didn't record it because we haven't received the PO at that time. We received it in May, despite the fact that the service started in January. We were, frankly, conservative in recording anything until we get the process finalized yet. We assumed that the Deloitte and this kind of services should be disconnected. There may be a severe impact on the CC network. We disconnect the service, the message is taken, we are concordant with this observation. We find a way to have timely contact, recording of our revenue in a timely manner.

Yes, I remember the case, we talked about it in the previous meeting. Yes, exactly. Recording, ok, bye.

Excuse me, on the subject of DDoS, has the agreement been signed for a year or a number of years?

Until the end of 2026.

Excellent.

We are working on 2027 and onward. I'm looking at the young people. I'm setting expectations of STC procurement from Q2 next year. Because you know, the POs won't come out of STC until March time. I don't need Q1 of 2027 to have the same problem. We are not recording revenue, as long as the process doesn't end.

yes so so that's all there are no uncorrected misstatements that were noted during the quarterly review and I won't go through the appendices itself however we're happy to respond to any questions that you have on these

appendices just have questions on the financials itself itself can anyone please shed some light on what's going on with the operating cash flow for the six-month period because it's a negative 180 million uh yes so uh there is and there is a low in collection

uh compared with the previous years and this year so our ar was around 340 million mainly it was driven by the group 200 million out of these 300 is from the group hundred hundred left we did one room last two months and we have been trying to close this and this issue alhamdulillah all of these invoices there is no issue it's only a collection process that need to be followed uh from in in july itself we have been collected around 54 million and we are expecting a hundred on august inshallah these with others with other collections during the service inshallah will enhance the cash from operating services it is lead you to the cost of payment for the windows switching the q1 and the bonus payments and the low collection during the half-life

aging table uh doesn't trigger that there is uh challenges in a collection

the one presented earlier it's showing a huge increase comparing with the organic balance of 2021 2024 25 so it was 210 last year and we are reaching 340 now

when i see the cash flow statement i see a significant item as the payable itself are you accelerating the payment because it's more it used to be six million uh compared to last year now it's 93 million negative outflow

The spike of revenue came in Q4 2024 that was having a lot of system integration project where was the payment of these mostly are mighty days. So the execution of the payment rate was executed in the Q1.

This might need a deeper dive from Abu Abdallah but negative 180 million of operating cash flow. Something not necessarily compared to a positive $60 million last year is not something. It's something alarming, I would say. So maybe a deeper dive, a closer look from yourself as well. I'm sure there might be justification, but I'm sure this is not, or I hope it's not a continuous trend because you have profits, no cash flow. That means we are heading into some problematic financial situation, God forbid. If any of the members have any questions or comments, otherwise, I'm fine with the financials.

I have a question, if you'll excuse me, Mr. President. Go ahead. In the second slide on gross profits, He spoke at the full-fledged stage. page 2

What do you think, Mr. Pendery?

Yes, I see in the Selling and Distribution expenses for the previous year, which is 5.3 million, this is for the full six months. So, in principle, it should include the previous quarter, right? As expenses.

Sorry, Mr. Pendery, you mean the 5.3 for 2024? Yes, this is for the full six months of...

So, I've been looking at the comparison and I've been looking at... I mean, if I notice today, the six months or three months, there's an increment between 24 to 25 with 5 million. While with 24, I feel that this number of... what is it? I feel that something is wrong, no matter what it is, it is not in line with the numbers, honestly.

Can you explain?

Are the numbers correct?

The numbers are correct, but in the comparison of this one, since the ECL expenses is included in the same market distribution, for Q1 and Q2 2024, there was an reversal of the ECL during that period. So the spike of the 3 months has been only for the 3 months that is around 300, this is your question, right? If I understand correctly, yes.

But today you said that there was an adjustment, what was the quarter before that was only 300,000 or 200,000 and the small difference?

No, there was a reversal in the ECL.

Okay, that explains it. This is a major issue. The news from the related parties on the 9th of April, I think we discussed it at a high level, but I see a very big jump, especially from the STC. What are we going to do about it? Do we have a plan or are we working on it? Or is this going to be a trend?

We had made plans. The view from STC was mainly, to be honest, there was a slight delay between them and STC. It was in the interest of some companies and in the interest of sharing revenue with the ABU. Thankfully, the problem was solved two months ago. We got part of the money by the end of July. The rest of it is now in August, God willing. So, we are expecting, God willing, we got from STC in the late part, in July only, a valuation of $300 million. The expectation, God willing, is that around August, the $110 million will be deducted from this balance sheet. So, at the moment, the balance sheet is about 180 million per day, and that's enough for the finance for execution.

Yes, the problem was the code. It was just the code.

Okay, if there are no questions for the auditor, God bless them, we thank them, and God willing, a successful start for them with the group and with SIRAR. With that, if the committee members don't have any comments, we approve the financials.

God bless you, Mr. Chairman. And that's it. We will withdraw now, God willing, and we will give you the results. Thank you very much. Thank you very much, thank you very much. Thank you very much.

And Khaled? Okay, we're going to move to the second topic. Dear Mr. Chairman and committee member, the second item, as part of the direction that came from the chairman at the beginning of the year, to review on a regular basis the strategic authority metrics which will enhance eventually the operation of the company and support the growth of the business plan that we have at Sarabas CC. We're coming to this meeting with five recommendations of enhancing five strategic authority metrics, and we are seeking your endorsement before we go to the board for their approval. I'll go quickly through those five strategic authority metrics. I have with me El-Johara, who might support me in case there is any questions. So the first one related to the decision theme of a business management, and it's related to a strategic authority metrics of project RB, whether we go or no go. Usually when we go and do the tendering process and we bid or we submit our proposal for any projects, there is an authority today cap, which is the ability of the CEO to a 50 million and also the approval of 100 million within the NRC authority. We are kindly requesting, because our business is growing, and now we are bidding for higher projects, which is up to 100 and 150 million. So we are kindly requesting to increase the RFP amount, go or no go, for 200 million at NRC level, and for the CEO to be below that amount, which is below 200 million. So this is related to the first authority metrics that we are requesting. The current process at NRC is up to 100 million, endorsement by the CEO and approval by the board of directors. What we are requesting here for the projects up to 200 million, we need the endorsement from the CEO and approval from the NRC and EXCOMM.

Excuse me, Abu Khalid, what is the relationship between NRC and this Arab tendering?

Usually, Abu Abdulaziz, whenever there is a project or submitted business in the markets, so whenever there is a deal of this project is above 100 million, we should go and seek approval from NRC.

If you'll excuse me, I think this is creating a confusion, it's not NRC, it's EXCOMM. So the EXCOMM oversees it, it assumes two roles, it assumes the EXCOMM role and NRC, so it's EXCOMM.

Okay. They're together? They're together, yes, one by one.

Do we have a quantification for the number of diesels that exceed 100 million in the past year? We can bring it from the business operations,

and we can share it with you by email. But at the beginning of the year...

In the form of frame contracts? For example, we have now with the CGR and the financial system, we have with the defense through the STC, this is all above the defense, so to get to the first portion of the defense, for example, through the Italian agreement with the STC, I need to go back every time and see if Google, I mean, honestly, it's a challenge, and the majority of the Italian agreements come through the STC, the EBO. Sometimes, it holds our agility to go or not to go. Should we bid or not to bid?

Yes. If you go to the second slide, it's linked to this one. We said that the value of the deal is above 200. We request an EXCOMM approval. We are saying here that the value is up to 200 million. We are changing the authority to be approved by the CEO. Today, the current authority, the CEO, has an approval of up to 50 million. Any deal, whether to go or not to go. Today, if we raise the NRC above 200, we want the CEO to have it up to 200 million to decide for this deal, to go or not to go. This is the first authority matrix. If you have any questions, otherwise, we'll move to the next slide.

I think, first of all, we don't have an objection as an Audit Committee. Secondly, it's a business, more business decision. It should be supported with analysis. And because above 50 million was the board's authority, so the board wants to delegate to the CEO. I think it should be supported with volumetric analysis to see is it, usually, it's two angles either operational burden on board that I don't want to receive orders every day so it's business as normal or the second is control, that this contract is significant how often do you get it so this analysis is needed for this slide we don't have an objection, I mean, I speak as an audit committee from a control perspective, I don't have an objection But the approval needs a supporting analysis to justify the two things you mentioned.

Well noted. We will work with the business operations, and we will create that analysis, and we will present it to the board, insha'Allah.

I don't remember that I got more than a 50% approval in the previous year. I mean, I didn't get it for a year, so why change it?

True, we are predicting the future and as you said Salman, this year we are entering mega deals.

I see my advice is to let the board complain about the volume or the X-Cup and then ask for a change. Because you will not get a contract of 200 million every month, imagine if it comes once a year. Or more than 50 million? How often is it?

I don't know how to explain it, but it's not like we're going to go and discuss it and study it or no, that's the idea.

But it didn't come up on the board, I remember when we were on the board, it didn't come up. If it was with Lixcom, if they complain that the volume is high on Lixcom, then fine, this is their call, I don't have an objection as a audit committee.

We were seeking XCOM approval, why you are coming to us for this kind of thing. That's an operational activities. It should be within. But the fact is, I think we need to take your comments into consideration. But the majority, maybe 95% of those IAEA projects are through STC. We take it through STC. Which might give some sort of visibility, maybe even from the cluster we have in STC. Sometimes they are telling us, don't go to this bit, go to the other bit. But there are sometimes operational activities. But the message is taken, we take it and quantify it. We'll show some sort of analysis, how frequent, what are the expectations based on what we have. And we'll come back, hopefully.

Okay, moving to the next one. If you'll excuse me, Zahid, it's 2:30 p.m.

I read the matrix, and I don't know if it's the year's salary or the total salary. Maybe it was $50 million or $200 million. Is it the value of the contract, or per year, and so forth?

No, no, no. It's written here. It's written here, "The number of years." Usually, the contract is 3 years. But here, it's not written.

I think the definition is good. If it says "contracts," it will be clearer, I think, for interpretation.

But actually that's what helps us. We're going to draw it to the description table with 30 metrics.

So if you have 200 million in three years, which means approximately 65 million a year, it could be within the management authority if it was in a certain year. It will not happen.

Moving to the next slide, here we are talking about the KPI scorecard for L1, which is the direct report of the CEO. If the current CEO endorses the KPIs, then we have to go to the NRC and ESCOM for their approvals.

I don't have an objection. This is an NRC matter, from a control perspective, I don't know if anyone in the committee has a different opinion, but from a control perspective, I don't have an objection to it.

Okay, excellent.

But we'll hear if anyone has a comment or something, we'll take an opinion.

I agree with what Abu Salman said, I read it today, and there is no problem with it, but I think we should go to the next committee

Yes, to the meaningful committee

We have nothing to do with it We will have an Audit and Risk Committee in a part of the kiosk, we have to get an endorsement from you before we go to the next step But if there is no objection, we can discuss it with the concerned party, insha'Allah As for the next slide, he was talking about

Excuse me, but it is important that we comment on each item, if we ask for an analysis or no objection from the control and we leave this matter to the board, he will go with the endorsement Just so that the board knows what we discussed and what we did not discuss, especially in the resolution

- Definitely, we'll note it. In this, another one, here we're talking about the strategic workforce planning, which mainly creating how many headcounts we need at Seraba STC to run a business plan. Just for your own record, we have done this exercise one time through the previous five years. Here we're requesting to ease in the process that the approval for the strategic workforce planning to sit at the CEO level. We believe this is a pure operational activity, and it's cascaded from the approved business plan that get endorsed by NRC and XCOM and approved by the board. After we get that business plan, if there is a need to do workforce planning, then we conduct that exercise, which happened only one time through the life of Serar by STC typically.

That's pure operational, actually. The ask is to get, I mean, the board is just approving it. plan at a high level in terms of cost, then the distribution will be based on the business dynamics.

The concern is that the headcount is the driver or the key driver of the cost structure of the company. So, this plan is necessary, if I understand correctly, to improve the number of employees, employment, and their relationship with the budget, it is necessary to have at least the NRC for endorsement. from a performance perspective. Again, this is an NRC XCAM matter and board, from a control perspective, we don't have an objection.

I think it's good for the board to get the information and finish the forum.

Brief, definitely, once it's executed, we can brief it to the NRC and board, absolutely. Okay, I think that's all, and I'll slide the strategic mathematics. Okay, this is the last one. To recap, there is no objection from the Audit and Risk Committee on this enhancement. We will capture your comments and we're going to do the analysis and present it to the board for their final review and decision. Okay, that's all from my side. Thank you very much. Now we're moving to the next topic. This is just an overview to you, dear Mr. Chairman and committee members, because as you know, that's in the past couple of weeks we've been requesting a conflict of interest disclosure form, and here we just would like to increase the awareness and educate everyone on the call about the process that we are following at Sarawak ICC, which is cascaded from SDC group. So, for example, if there is a conflict of interest or the disclosure form has been filled by a board member and there is a conflict of interest has been identified, then an input would be reviewed by Sarawak GRC. It would be approved by a group legal and risk unit at SDC group and briefed to the general assembly at Sarawak ICC, which is the group CEO at SDC group. For the same similar exercise for the CEO, it will be reviewed by Sarawak GRC, endorsed by SIRAR audit and risk committee, and approved by a board of directors. For the executive CXOs at Sarawak ICC, it will be reviewed by SIRAR GRC, endorsed by audit and risk committee, and approved by a board of directors. There is no kiosk on this slide. It's just increasing an awareness and educating all members at committee in Sarawak ICC.

Do you have a whistle-blowing channel, Khalid?

Maybe it's our good luck or our good applying the business practice. We do have a whistle-blowing policy and processes and it's fully aligned with the STC Group policy. And we do exercise on a yearly basis on how we increase the awareness related to these topics. We haven't noticed any case in the last four and a half years and inshallah we'll continue the same, but definitely we have this on the ground.

Mr. Aziz, we're working to revamp all the processes, internal processes, including business ethics. We even had a discussion with our brother Abdul-Anoud Abdullah on the internal audit to revisit the business ethics policy. We have a sub-lawing, but there wasn't anything major reported that deserved to bring it to the attention of the committee. Otherwise, we will not hesitate to bring it. But maybe the ecosystem is not helping people to speak. That's why we're revisiting it now. all processes, which are to encourage openness and transparency within the organization. May God be with you.

I have no comment or question in this slide, this is all for me. Excuse me, Mr. Khaled. Go ahead. Excuse me, Mr. Chairman and members of the committee. Just to comment on the committee's recommendations in the previous slide, Now we have one of the review projects that we are doing, which is the border face, and I looked at some of the charters, especially the ones that came. One of the tasks of the NRC committee is to evaluate the cases of conflict related to the bones of the prisoners. I don't know if it is possible that the role of the review committee is not blocking the prisoners, rather than reviewing the prisoners to ensure that there is proper control in the report of the external review. And to start its visibility to the parliament and the NRC committee in terms of the members in relation to the conflict of the prisoners.

Aboel, I know that you are referring to which category? Are you referring to the board members? CEO or executive? I'm referring to the COO and executives. OK, so yes, the audit and risk here endorsement for they are blockers in terms of the decisions. So you are suggesting that they don't be a blocker, right?

I would leave it to Salman and the committee members, I mean, this is from some of the practices that we have seen. Otherwise, it's OK, I mean, the committee may focus on the control over all the process, especially in the confirmation of the conflict. The NRC committee, since it is always close to this responsibility, since its responsibility is also with the members of the Board of Directors, it may have an intervention mechanism in this matter.

But excuse me, Abu Al-Anoud, in terms of the NRC, they always refer to, you know, compensation and benefits, right, practices. While the audit and risk committee, they are referring to a conflict of interest or there is any misuse or anything that needs to be decided in this area or category. That's why we always go to the audit and risk committee.

When we return to the Charter, one of its responsibilities is to evaluate the cases of conflicts and to read the guidelines for the administration. This responsibility may not be correct in the Charter, but it is up to the Audit Board to see if it is correct.

In the Charter, it is more important to design and review the cases of conflicts. if there are cases where the design and other things are out of the question

what are we going to do about it? Absolutely, if there is a decision, we will be more than happy to capture it and review it so I'll leave this to the chairman and the committee members

Excuse me, but what is the proposal of the committee?

My suggestion is that the committee make a blocking decision regarding the conflict when it is related to the CEO and the executive, or review it?

Blocking in the sense of whether the appointment or the closing of the site is done, right?

Right. I really endorse blocking at the EXCOMM, because it is a business decision usually.

and they are fighting for their interests The control has been spotted, and the process is in place, but the decision is a business decision. Does the council or the EXCAM want to continue with the work, and these contracts, despite the existence of opposition, this is their decision. But if there is no process, this is the responsibility of the committee. This is a weakness of control. So, if you block, for example, someone to be a member of a committee or a leg of a contract, I think this is a business decision. It's not a control. I think the GRC members can discuss with the group about the new list. and research it internally and come back with a proposal. I mean, you heard the discussion and the proposal from Abu Al-Anud.

Come back to him in the next meeting. No, very clear.

Sir Chairman, if there's nothing with the management, I'm sorry, if you don't need me or your brothers and sisters.

May God give you good health.

- May God bless you all. - May God give you good health. May God bless you. - May God bless you all. - May God bless you all.

May God bless you all. Salman, members of the committee, the material for the internal review may require one decision from the committee. We need your opinion. The rest will be an update on our plans and our efforts in reviewing the projects, and an update on our strategy and execution of our strategy. And on the observation closure status. Last time, in February, we presented the committee with the proposal of a scorecard for the internal review of 2025. There was a comment from the committee that the KPI was reduced to 11 KPI, to be more strategic rather than operational. There was a comment from the committee about specifying the target, to be more rationalizing the targets we had set before. Also, in February, the company, with the executive committee, worked on a new framework for executive performance. We wanted to explore what the executive committee and the adjustments it will make to the performance. From the previous assumption that it is almost dependent on the executive committee in June, I'm not doing it. to Executive GM N-1, which is reporting equivalent to the level we have in the internal review. Previously, it was 50% corporate objectives and 50% functional objectives. Currently, it has been modified to be 60% corporate objectives and 4% functional objectives. This is the company's design for N-1, which works under the full supervision of the CEO. The committee also modified the financial contribution in KPIs. Instead of 40%, it became 60% and 80% financial contribution. She also changed the topic of 360 feedback plus direct manager. 20% of the whole scorecard was dedicated to 360 performance and direct manager performance. The committee rejected it and said we don't need subjectivity in evaluating people. We need more into corporate objectives. We came up with a blend that the executive committee came up with. And it agrees with the internal review based on its independence and subjectivity. We think that the corporate performance of the internal review is 90% functional. Which is functional KPIs. And 10% remains with the audit committee members.

To evaluate our outputs.

To evaluate our contributions. To evaluate leadership. To evaluate them in several aspects. Also, one of the things that we took into consideration is that it is not right to interfere with the executive board in the corporate objectives. Because the corporate objectives include financials, sales, operation objectives, and operation KPIs. This affects our issue and our independence. We discussed this issue with the previous committee, but they rejected this position once again. 90% is corporate, and 10% is the committee. In the past, we took 80% as functional objectives and 20% as committee objectives. But in accordance with the committee's direction, in order to reduce subjectivity in evaluation, we reduced it from 20% to 10% to be in the committee's hand. We will do a survey during the end of the year to help the government evaluate the internal reviews. This is about the framework as a whole. As for the KPIs, we reduced them from 11 to 7. The execution of the teleaudit plan will add hooks to the advisory services to more impose engagement with the management to provide advisory services as key to the services of the teleaudit. The observation closer follow up, making sure that the management is on time, they are closing the observation, and they have a rationale for any postpone. The planning activity is 20-26, and the functional quality, the target has to be fully adherence to the teleaudit standard. as well as Teradot Strategic Execution and the People Index, which is available to all executives in the company. This proposal that we came up with as a 9000% target ended this year based on the benchmark we did with Sintra 3 and Stacey Group. I also sat with Abu Ghaziz Al-Taylaafi and Abdullah Almeir. I discussed the objectives and targets to get a benchmark from them. Our target is 15% of the plan to be dedicated to advisory services. Also, we have to do a quarter base for all observations. This is the target, and the plan is 100%. This year's plan is for what is overachievable and what is not overachievable. The level of table strategy execution, the advisory services, the planning for next year, the function of the committee, and the assessment of the other committees. If you have any comments or questions about the KPIs,

From my point of view, I'm fine, especially since you reviewed it with Abdullah. I don't have any comments.

I only have two questions for you. How can you overachieve in planning and quality?

In terms of quality, we have 50-50% of the standard. Highly capped, not overachieved. Either conformance with the standard or non-conformance with the standard. This is 50% of the QBI. And the other 50% improvement we are targeting on certain processes. So we are targeting 5 minimum processes to be improved. We have 21 processes within the internal review department. And this I am targeting to be the last year KPI. Because, thank God, we have reached the majority, I see that whatever is behind us is a normal business. The second part is the planning for 2026. This is operative just in case. The company has received a refreshment in the operating model waiting for another refreshment for the company's strategy. If this will impact heavily my risk assessment, my universe, my plan, I will ask the committee for additional efforts.

I understand where you're coming from, but I don't know how we can be fair with you on this.

We will build solid rationale on how we are calculating our achievement. We have a template, Alhamdulillah, because we are improving on this template. We will be fair either with us or with the company. So this is our counter quest for approval. For the remaining it's an update. We have launched five projects. We have good progress in HR and technical reviews. We have a lot of engagements on the pipeline. We are planning the second half. We only have one member who has stopped in the middle of the board of affairs. Dr. Abdullah, may Allah grant him peace. The minister will resign, and there will be another minister. So, there may be a disruption in this engagement. We will try to close it during the next quarter. Regarding the review, Alhamdulillah, we committed with the consultant for engagement. We will request a second mint during the next quarter. One of the internal review employees requested me to move to another function, the GRC. So, we have a vacant one. We will refill by second mint, and we have a record in Al-Shafa.

Is this a strategic return? No, it's not. How many reports have we released this year? None. I raised the flag in August. We did not issue any report. We discussed it before, and I wrote it in front of the committee. I'm very sure we will be able to issue most of them. When we receive a lot of observations and reports, we won't focus on them. The idea is to distribute it by the quarter, so they can look at it. So, keep in mind, on this deadline, I think we have to interfere. We have to be careful with this. So you don't go up there and say, "Oh, I didn't get it in December." And you get it the next day. I'm not difficult as it is.

For the internal strategy, we worked with the committee on a strategy in January 2020-2024. Our strategy is called Trust. It is a strategy to maximize the capabilities and excellence in everything we do. We call it Trust. It has five pillars, five strategic programs, 14 initiatives and 40 action points within our radar. We have a committee to measure them. Sidmead Alwood And annually it has a part of the scorecard in the internal review. Execution so far is 7% of the overall strategy. And we can say that 50% of this year's targets as an action point, we achieved it. Maybe the big challenge that I expect next year is the technology program. Because technology always needs heavy investments. The dream we set needs heavy investments. So we will always have a shortage in this domain. Because hopefully the whole company will succeed in automation. And we are by... By default, we will enter the approval with them in the animation.

I'm assuming that these tools are already budgeted, right?

No, we did an assessment last year for one of the automation programs, which is the Continuous Control Management. We took an assessment because the company is still not ready. is not mature in automation, so that the internal audit can build a tool to listen to the systems and the special operations in the company. This is one reason why we did not invest. The second reason is that there are many processes that will be outsourced to the STC group, so we will have a challenge to access their own tools and systems. This is what we need to work with, along with the young people in the group, how they do it for us. We hold this program for this reason. The third reason is that the budget was a bit high. What the consultants added to it is that if we want to build it, we need approximately two to two and a half million for two to three years maximum. And this year we have a budget of 500,000 Honestly, I see that there is no value to invest right now This is a company whose tools are not mature and their systems are not mature

Why do I ask? I have two parts The first part is to clarify whether we are on track or not They have been completed 50% in the first half of the year Everything should be in principle on track But out of the five, is there an issue? Second, when I say I want to achieve 30% of other tools and technology What is 30% and what is the purpose of it? Is it just an assessment or a study or an RFP? What does that mean as a percentage of each? Because some of them are specific, for example 79%

There is a list in excel sheet, we will put it in the action points It will lead us to this percentage, to lead us to that target of percentage

Are we doing well during the year? Do we foresee any risk during this year?

Which is the domain number 5 At the end of the year, I want to have a proposal to the committee Not a big proposal, but a big one Concerning the contribution of strategic execution when it comes to internal audit KPIs Whether we will continue pushing and investing in strategy and be a driver part of the function KPIs, or to be a continuous monitoring with minor investments on the remaining activity of the strategy. We will do a refreshment in the coming year.

I am sure that you are aware of what they have done with the audit, which is the continuous, which is currently running. In the beginning, I think that learning from them is going to go a long way, basically, and even from a costing point of view, you may hear from them. I don't know what the outcome may be.

And this is one of the things that I have in mind, that they are interested in it, and some of our processes will be outsourced to the STC Group. They are already building good bases, building good technologies, so they might have agreement with us to feed us on this chapter. This domain has always been a challenge, but Alhamdulillah, we can do what we can do. Good luck and good luck, may God bless you. The last point is the status and observation. The closure rate is approximately 30%. The previous quarter's closure rate was 5%. This is due to the fact that this quarter will always have a new timeline due to the notices issued at the end of the year. We were expecting to have more, but due to the changes in the RE-ORG, the leadership of GM and chief level has changed. The restructuring has changed and the new leadership has been distributed. From this point of view, we give new leadership. I got time to review, to look at how they will resolve these issues pending in their sector. The first five minutes are still open. We are waiting for the management to close them. As far as the videos are concerned, the external editor will always repeat them. As far as the access from outside the kingdom to critical vision systems is concerned, it is clearly from the security system that prevents access from outside the kingdom to critical vision systems. This management requires risk acceptance. We told them not to join the committee on risk acceptance until they come back and we will also give our opinion to the committee so that we can shorten the discussion that took place on the level of the committee, whether we agree or we have a certain risk. This discussion between us and the management has not ended. We were expecting to leave the committee during this quarter, but we decided to leave it until the next meeting, God willing.

If you will excuse me, I have a question. Today we have a number of judges. We did not agree to the risk acceptance form, and I am thinking back to the period I have been in. Do we have a top risk, top 10 risk in the ERM? We are not getting much updates, but I did not want to talk to you about the risk side of the community today. We are not dealing with any aspects, including the risk acceptance day. We should have thought about it before, and we should have decided who would agree to what. We did not know what to do. Even if we had come today, we would not have had a basis. I would like to ask Saad Al-Tarais and Al-Ikhwan to stop talking about Rizq because this is a very serious issue and I don't feel the need to discuss it.

In the previous term, he presented in a professional way and you can correct me if I'm wrong. Suddenly, as the Iqwan had preferred, one of the biggest advocates of the topic of Rizq in the committee and the assembly, Abu Abdullah himself, I am not sure if it is possible to do it in the same way But today we want to go back and see how it works. Why did you stop offering it? It was in your hands.

If you see this, Salman, it could be one of the action points to be put in this meeting and to be chosen by the administration based on the importance of the issues of commitment and the rules of the ruler.

I remember you presented a proposal, which is reporting. And what happened to it? It was in the transitional period, when Abu Talha left, I think, or before he left.

The previous meeting may have been with the members of the committee, but if you see the safety of this proposal, we can add an executive order with the committee's guidance, so that the executive order is also taken into account in the application of the proposal we have presented.

Yes, I will send a reminder if anyone wants to join, and we will have a fixed reporting pack. There will be consistency in the proposals.

If I may ask you, Mr. Salman, I see that the slide on the right is about the findings. Dido slides are available, but I don't understand that they have been analyzed until the end of 2026.

Here is the Dido slide. The Dido slide in our review It was about two rooms. The first one was called "Go Work Forward". But we have a leakage of revenue from 2021 to 2023. This company didn't get its share of DDoS services. Here, the company will ask for risk acceptance from the committee and the council. Either we go out and ask for the previous amount of money, which is equivalent to 100 million per year, or we go out and make a deal with the client, STC Group, where they ask for 100 million per year, and I sat with them offline, and they told me that there is no way I can get 100 million per year, but I can get a compensated opportunity for the future. In order to increase this observation, I need to give me something that's relevant to the previous, either to close it, or to have an acceptance with the compensated offer that came with the STC, or to have an acceptance with the parliament, and that's it, we don't demand anything in the previous contracts.

And the third point, which is sold through STC Group, was it part of the agreement that was expected to be introduced?

STC Group in the business sells connectivity plus DDoS services, linked services, bundled. Unfortunately, they sell it at a 100% discount for DDoS. So we got zero revenue from the sales of STC when it comes to the connectivity bundled. There is a discussion with the chief business director to compensate Sirar for the sales that were 100% discounted when it comes to DDoS cents.

I have a simple observation, based on what is being mentioned now, especially about the second and third points. In the second point, we are talking about the previous acquisition. We are talking about the future, and you are talking about old things. So my challenge is an acquisition rather than an observation, because it is supposed to be a fixed and closed competition. But we didn't get it from the acquisition side, right? No, it's not an acquisition. We didn't get it from the acquisition side, so we didn't get it from the acquisition side. There is no contract at all, so this is the big challenge. The second point, because I am also wearing the hat in STC, and the same goes for bid management. We have a direction now, with the chief, of course, I don't know why it is open, maybe like these old or previous things, but we have a warm direction that we will not sell DDoS with 100%, we have been betting on it for a few months now. If it's a corporate management, they need to respond. The youth need to respond.

Exactly. I'm waiting for them, Insha'Allah. Is this all overview? Or just the first one? Just the first one. Do they still have time to edit the rest? Quarter to three. How long is it allowed for them to edit?

To be honest, to date, we haven't set a specific timeline in our criteria. In the strategy, I don't want to be aggressive with the management to have a strict timeline to close some high. Especially in some high, it may take time. So, we take it subjectively, and give it a maximum of 6 months, then I will have a checkpoint. Either to have a retarget or to close it.

First of all, this is a serious violation, it should be removed. There is no such thing. I think it's not an option to accept. I don't know what they're going to do, whether to put a deadline or not, I don't know.

They will ask for acceptance for one reason. They say that this is a special kind of vendor and special service. They are not only in one place in the world. And everyone is doing it. And this access from outside the kingdom, even STC, is doing it on critical systems. It's hard to get the experts to work here in Saudi Arabia. It's hard to invite them. They have a different rationale. So, I can tell you this is what we want to do. We will try to have a control. Then Jonah said, "No, we cannot control it." This practice exists everywhere. Build a case. We will review it. We will add our comments and feedback. Then we will leave it to the committee to have a discussion with you about whether your rationale is enough or not.

I would like to second what he is saying, that today we want the deadlines to be a little more aggressive And at the same time, here in the committee, there may be things that are temporary For example today, the DDoS salt within the group There are things that I can tell you, we need to start immediately to stop And then we can start to solve the things that we did in the past It is an observation, it is not an open problem We want to ensure that today this practice stops completely Because there is no more bleeding, whether in the second or third point Because we do not have contracts today, we are not billing or invoicing So if this stops, it means that I have a second chance I want this awareness, and its timeline, I think it will help us a lot

If you remember, we got confirmation from the management It is minuted that there are no services provided without a contract This is a good reference point But if you see that you want an audit assignment and also a confirmation, it doesn't matter

If you'll excuse me, regarding this point, there's an action point, if I'm correct, Abdullah, there's an action point specifically relevant to this topic in the previous meeting. I don't know, I think it's still in progress, but I don't know what happened to it. Or if you want to participate in the internal review of this action, we can give you assurance on management response on this action point.

I think the assurance is a critical topic, it does not prevent us from taking the assurance that there are no services that repeat the same DDoS problem, even if it is small, just to cross-check.

For example, closure status and other activities that we work on, such as updating the operating model, we are reassessing the assurance map, after the company has a chance to re-strategize some of the tactics of the operating model, then we evaluate the measures for the new adjustment, whether it is significant or not significant. Then we just relocate some of the processes. We have insights that we give to the management, and I introduced this process this year. In an ad-hoc way, we provide insights to the management or the CEO, especially with the new changes and changes in the operating model. It's a worthy opportunity for the auditor to give his opinion on the new changes and changes in the operating model. This is what we discussed this year, and that's the most important thing. Thank you, Salman, and if you have any comments or suggestions, please feel free to ask.

Thank you very much, on the contrary, the statement is clear, and with the comments that the brothers mentioned, I take it into consideration, and in my opinion, there are no comments.

Thank you, I didn't cut it.

This is the last topic from Abu Muserman, because of the audience's happiness. If there are any general inquiries or you have any questions, please write them in the Q&A box.

Excuse me, Ibn Abdullah, this is for the non-Fidna. You mentioned the follow-up to the previous items. I didn't want to interrupt you. You mentioned Abu Salman, why didn't he be the first item? You will be the first to follow up on the presentation.

Yes, and this is a requirement from me and Abdulaziz, that they do not get into all the management, because as you know, there are different action points in different departments. So, if you find it appropriate to start a meeting with the committee members and the executive director, and present the action items in general, and then the committee will start with the agenda, or if you find it appropriate, of course.

Yes, there is no problem. We can start the meeting, and the management can start after the decision is made.

Alright, I will start then. Okay, Abu Salman, Saad Al-Abaad. Anything else or should we close the meeting?

Thank you all. I think it's necessary to have one meeting to meet in person. We haven't met yet. But we'll see when the time comes. We'll come to the gathering and make a call. I think it's going to be close to most of you.

You enlightened me, Abu Salman. We are all in the same place. You are in Milan and we are in the same place.

May Allah bless you. May Allah's peace and blessings be upon you.

May Allah bless you too. Thank you everyone.

Oh my God. Did you get the job done? We don't have anything. I was trying to understand the comment. I went back to the slide.

I don't know if you went back or not. I couldn't understand. I'll send it to you tomorrow

Yes, so today he's telling you What's the situation? I can't understand Can you explain it to me? We agree, but can you explain it to me? There's nothing to tell you Because it's connected to the key So I didn't understand anything.

He was talking about Rishad. Or Tima. Tima.

I don't know what transaction. Which one are you reading? Or can it be the SIO treatment, right? No, you can find it in the presentation. It's not the text.

There's something called board presentation. And there's something called appendix, which is the legal document. If you go to the library,

you'll find the legal document. - Do you want me to read? - Go ahead.