(MENAFN- The Peninsula) Qatar Today will announce the top 10 best performing stocks on Qatar Exchange (QE) at its first "Business Excellence Awards" function to be held on June 16 at the Hilton Hotel, Doha.
Held under the auspices of Qatar Chamber, the awards are given out looking at the performance of the company in the last five years and giving the investor an informed perspective on the company's historical performance. The formula of calculations used to arrive at the "Qatar Today Top 10" is through a weighted average of 20 percent each for price growth, dividend yield and liquidity, while net profit growth, total revenue growth, return on equity and return on assets are weighted at 10 percent each. Qatar Inc has shown resilience, innovation and foresight to grow in spite of several challenges. Many of the top companies have grown their net worth and given remarkable returns to shareholders. The Top 10 corporations will be from the 43 listed companies, which have a combined market capital of QR676.79bn on QE on December 31, 2014, Yousef Al Darwish, Publisher and Editor in Chief, Oryx Advertising Company, said yesterday.
"Qatar is continuing to invest in infrastructure, with planned spending in the region of $205bn mainly on roads, stadiums, and rail projects. Despite the recent drop in oil prices, Qatar is still expected to continue with the majority of its projects as planned, Al Darwish said.
Remi Rowhani, Director General of Qatar Chamber (QC) said: "Qatar Chamber's role is to encourage the business community of Qatar and we take this role quite diligently thorough a multi-pronged approach. The awards is one way to encourage and promote the businesses that have been actively participating in the Qatari environment. Qatar Chamber hopes that the Awards will encourage and stimulate the business community of the country."
The Knowledge Partner for the "Business Excellence Awards" is Al Shall Economic Services who have conceived the assessment methodology, formulated the calculations and arrived at the rankings. Deloitte Services is the Validation Partner for the Awards who verified the numerical calculations and processes involved in the Top 10 calculations.
Camille Raphael, General Manager of Al Shall said, "We have tried to balance analysis time required with practicality and relevance to come-up with a fair and useful assessment methodology for QE's top 10 performers. We hope this methodology will become a benchmark for all professionals within the financial services industry in Qatar." Robin Butteriss, Head of Financial Advisory Services, Deloitte & Touche said : "The event not only recognizes achievements in business but demonstrates the evolution of an enterprising culture in Qatar."
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