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June2010_prerna_ds Employee News Letter

June2010_prerna_ds Employee News Letter

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Published by GVS Rao
Enjoy reading ...email me on your observations (gvsrao2005@gmail.com)
Enjoy reading ...email me on your observations (gvsrao2005@gmail.com)

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Categories:Types, Business/Law
Published by: GVS Rao on Jul 07, 2010
Copyright:Attribution Non-commercial


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DS Construction Libya | UAE | India 
Employees News Letter 
June 2010 Edition
    
Contents 1. 
Director Operations Message 2. 
addresses 3. 
New Employees in June 2010 4. 
Birthday Big Boys in June 2010 5. 
Orientation to Libya 6. 
R. O. Glimpses 7. 
Site News & Photos 
Tips How To Earn The Respect of Your Team 
Power Up Your Diet 10. 
Puzzles 1. 
Word Search 2. 
Lateral thinking 3. 
Cross Words 
Handling Water scarcity: Swani RO 
DS Construction
overcoming business challenges….
By B.S. Narula, Director (Operations)High construction costs and various checkpoints are among the Challenges facing by developers and contractors in Libya. The government here, which holds 40 per cent of 
 Africa’s total known oil reserves, is trying to attract foreign
investment with tax incentives as it diversifies its economy, while competitive builders are chasingopportunities in Libya to counteract a slowdown in India, and GCC.But gaining a foothold in here is challenging for construction companies, despite high
local demand for new homes. Abu Dhabi’s Al Maabar is one of the first UAE developers t
oenter Libya and plans to partner the first construction contract on its US$750 million(Dh2.75 billion) Al Waha project. The development includes a commercial and hospitality tower with serviced apartments, as well as leisure and retail facilities. While localdemand for good housing is high, investors are deterred by high prices to deliver. I amcalculating the cost of construction here almost double to what are spending in UAE.
This was because of high construction costs attributable to the country’s reliance on
imported building materials .Construction costs are a nightmare, which is making it more difficult for Contractorscomplete projects within budgets. While there are numerous projects under consideration as the Libyan government develops its infrastructure and the property and tourism sectors, contracts are yet to be awarded. Developments have also been put onhold or have stopped mid-way over the past year because of budgets and execution plans. The contractors and consultants are available, many come from the UAE and other 
 places, but it’s a matter of 
working out something which businessmen expect to earn in areasonable time and patience to get earning
that is the main challenge. We have beenconsistent in attracting right persons to right job since 2001, I would give full marks toour team in HR in India, Libya for their 24/7 service, to bring recruited personnel toLibya. This enables us to execute and complete the awarded projects consistently since2001, while our competitors struggle with severe shortages of right person deploymentand skills to Manage diverse business culture. I Strongly believe that experienc
e can’t be
beaten.The cost of operating as a contractor in Libya is now being seen as far higher than in theGCC. If you want to accelerate your project, the skills to get for execution might not bea phone call away or for that matter the hiring the ri
 ght person isn’t that easy 
.Contractors including Al Shafar General Contracting and Drake and Scull have already won contracts here, while Arabtec Construction and Al Habtoor Engineering are seekingopportunities there as they expand overseas. Authorities here have drafted a law that would give tax incentives to foreign companies,such as exempting them from duties on materials imports. Meanwhile, DS Construction isone of favored companies in the Infrastructure development as we have proven base withseries of successful construction projects executed here. Building complex projectsexecution are currently in demand here. As Libya moved towards being a market-driveneconomy, there would be manageable challenges.I Congratulate Mr. GVS Rao and his team for their efforts to bring this June 2010 
DS Construction Employees Newsletter.Warm Regards.
Editor addresses MISSION OF HR 
To create and nurture theright Environment and workingconditions, soas to motivateand instill in our employees of all grades, asense of respect, loyalty,dedication and  professionalismin performingtheir duties
EDITOR’s Message
The opening up of Libya's stock exchange to foreign investors marks thebeginning of an era which will bring rapid developments in the country'scapital markets,I am sure these efforts will go Long way to liberalize Libya economy .Since Decree no. 14 came into force in June, allowing non-resident investors to buy shares in the Libyan Stock Exchange (LSE), four sectors have been listed. .More IPOs are expected to take place, such as Libyana and Al Madar for thetelecommunications sector, National Commercial Bank NCB for the financial sector and Libyan Steel for the industry sector, which should boost the capital marketsdevelopments.Introduction of mutual funds and related activities, which were anticipated for thecoming year, would certainly help the LSE in its expansion bid .Together, the IPOs and additional activities will certainly contribute to thediversification of the LSE." Decree no. 14 has made it possible for non- resident investorsto own up to 5% of a listed company. Non- resident investors are not permitted to taketheir money out of the country from a sale of shares. As the L S E diversify, Libya's stock market will earn a higher profile among institutionalinvestors.This development will lead us towards better transparency procedures and governance practices that will elevate the LSE to international standards .Each issue of Employee News letter PRERNA will have columns such as DS Constructionsuccess stories, orient to Libya, motivational articles, brain teasers etc;These columns will to make more attractive, enhanced quality content to its earlier Inaugural Prerna Employee Monthly Newsletter.I would seek all family members of DS Construction to contribute to the PRERNA in the form of articles, smiles etc; or even experiences at office to gain knowledge.Happy Reading!!! Gubburu VS RaoVice President

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