Tuesday, 02 January 2024 12:17 GMT

UAE Firms Say Supply Chains Remain Robust, Well-Capitalised Amid Regional War


(MENAFN- Khaleej Times) [Editor's Note: Follow Khaleej Times live blog amid Israeli, US strikes on Iran for the latest regional developments.]

The UAE companies on Thursday assured that supply chain operations remain robust while continuously coordinating with suppliers.

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Banks in the UAE said they remain well-capitalised and maintain strong liquidity levels.

Abu Dhabi-listed Mair Group, which has interests in grocery retail and commercial real estate in the UAE, on Thursday said its operations continue normally and it maintains sufficient liquidity and cash flow to support ongoing operations amid the current regional developments.

It said that access to funding remains available as required.

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In a statement to Abu Dhabi bourse, Mair Group assured that its flagship grocery retail arm, Adcoop, continued to operate normally across its 103-store network in the country.

It said supply chain operations remain robust, with proactive inventory planning and continuous coordination with suppliers to support the UAE's national food security ecosystem and ensure the consistent availability of essential food products.

Mair Group added that tenant operations are unaffected, and property management services continue under the Group's established governance, risk management, and business continuity frameworks.

“Amid the current regional environment, Mair Group continues to operate in a stable and disciplined manner across its grocery retail and commercial real estate businesses,” said Nehayan Hamad Alameri, managing director and group CEO of Mair Group.

As reported by Khaleej Times on Wednesday, many listed companies said it was business as usual despite the regional military conflict.

Kamal Vachani, deputy CEO, partner, and group director of Al Maya Group, said they have taken proactive measures to ensure the continuity of essential services for communities across the GCC.

He explained that the group maintains robust supply chains, invests in operational preparedness, and leverages modern logistics to ensure that customers have uninterrupted access to food and essential products, even during periods of regional uncertainty.

Vachani further noted that the strength of collaboration between the public and private sectors has been key to sustaining this stability.

The UAE-based United Arab Bank (UAB) on Thursday said its operations continued to run normally without any material disruption.

“The bank remains well-capitalised and maintains strong liquidity levels, operating comfortably within all applicable regulatory requirements and thresholds set by the Central Bank of the UAE,” the lender said.

UAB said customer services continued without interruption across all channels.

“The bank remains confident in the strength and resilience of the banking sector and the UAE financial system,” it added.

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