Analysis Of The Arab Potash Company

1295 Words3 Pages

Business Description: The Arab Potash Company (APC) is a Public Shareholding Company, which was initially established in 1956 with an idea to implement projects in the Jordanian unique potash reserve in the Dead Sea. The Government of the Hashemite Kingdom of Jordan granted APC an exclusive concession for the exploitation of Dead Sea salts and minerals. Under the terms of the concession, ownership of all plants and installations would be transferred to the Government of the Hashemite Kingdom of Jordan at no cost and no later than the year 2058. APC’s company construction has begun in 1979 with a capital investment of 83.318 million JOD, and started its potash …show more content…

Those are Potash Corporation of Saskatchewan 28% with (23,294,614) number of shares, and Government Investments Management Company 27% (22,382,437), Arab Mining Company 20% (16,655,651), Social Security Corporation Jordan 10% (8,642,968), Iraqi Government 5% (3,920,707), Libyan Investment Authority 4% (3,386,250), and Kuwait Investment Authority 4% (3,286,095). Financial statements: The statements are prepared in accordance with International Financial Reporting Standards (IFRS), thus the company accounts are understandable and comparable across international boundaries. Corporate Governance and Social Responsibility we evaluate the current practices of corporate governance (CG) system in the Arab Potash Company (APC) in light of Organisation for Economic Co-operation and Development (OECD) principles. Using a scale from poor, fair, good, very good to excellent, the Arab Potash Company, generally speaking, are very good in applying CG principles, namely: • Ensuring The Basis For An Effective Corporate Governance Framework • The rights of shareholders • The rights of stakeholders • Disclosure and

More about Analysis Of The Arab Potash Company

Open Document