‘DP World statement misinterpreted

DP World, the global operator of sea ports, has clarified  the statement of CEO Mohammed Sharaf, which was reported by some Arab and foreign media.

The statement in which CEO talked about the financial problems related to the re-payment of DP World’s commitments in future, is untrue. The CEO’s comments were interpreted wrongly, said the firm.

Sharaf has confirmed that DP World is in a strong financial situation and has a sufficient liquidity to maintain the growth of its operations, their progress and expansion plans that basically depend on trade movement and size of growth of demand at global markets.

In a reply to a question on the difficulty of obtaining finance for projects, he said the provision of liquidity is a global problem that all economic entities were facing.  However, DP World took that into consideration in its future plan.

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.