The General Assembly of the OTC 485 Kuwait Catalyst Company approved all the items on the agenda, the most significant of which were the approval of the audited financial statements and their ratification, the Board of Directors' proposal not to distribute profits, the decision not to allocate bonuses for the board members, and the exoneration of the board from any financial and legal responsibilities resulting from their legal, administrative, and financial actions for the fiscal year ending December 31, 2024.

Anwar Jawad Boukhamsin, the Vice Chairman of the company, delivered a speech on behalf of the Chairman of the Board, Rafeed Abdullah Al-Rifai, during the ordinary General Assembly meeting, which was held last Thursday with an attendance rate of 96%.

He noted that the global catalyst materials market experienced positive developments last year, and the company posted modest growth, producing 4.7 metric tons of catalyst materials with a production capacity of 95.4%.

Boukhamsin explained that the company's sales volume improved, reaching KWD 15.9 million, with a net profit of KWD 1.4 million.

He pointed out that despite external competition, the company maintained a strong presence in both local and international markets, mentioning that the company is exploring options to improve, modernize, and expand the plant to meet future demand.

He emphasized that "the cooperation of the Kuwait Catalyst Company with the Kuwait National Petroleum Company and the Kuwait Integrated Petroleum Industries Company (KIPIC) is a key factor in our company's success," expressing gratitude to both companies and looking forward to building long-term relationships.

He also added that the partnership in catalyst materials with the American company (ART) plays a significant role in achieving these accomplishments.