LKCT approves strategic plans, Nursing College gets go-ahead

🕓 October 27, 2003

Dubai, Oct 27: Lourdes Hospital Kanajar, a fully owned subsidiary of Lourdes Kanajar Charitable Trust (Regd.) held it's second meeting of Board of Directors at Caesars Restaurant Gusais, Dubai on Friday, 24th October 2003. With as many as four Directors including Chairman and Vice Chairman specially flown in from Kuwait, the quorum reached an impressive 75%, due to which, the Board could take some of the strategically important decisions for the development of the project.

Leading from the front- Lawrence Saldanha

The meeting started at 11AM with a warm welcome by the host and KWAE President, Thomas Saldanha followed by the recitation of Prayer by Frank Lobo. LKCT Chairman Lawrence Saldanha then presented the Board with up to date report on the current performance of the hospital. An impressive 7.2% appreciation in the net asset value of the project and the remarkable performance record achieving break even within a short span of 9 months since inception received a huge applause from the Board. Based on key performance indicators of the current year namely number of out- patients, in-patients and number of surgeries, a moderate 25% net profit with a minimum 2.8% appreciation in net asset value has been projected for 2004, which the Board duly endorsed.

Board of Directors

While appreciating the proactive moves by the current Governing Body headed by Lawrence Saldanha, the Board authorized the Body to streamline organizational and administrative matters related to the Trust so as to facilitate the smooth functioning of the Organization and to accomplish it's vision of establishing a top class institution in the field of Medicare. Appraising the Board of the SWOT, (strengths, weaknesses, opportunities and threats), current market outlook and pricing strategies, the Chairman gave a clear picture of where we stand and way forward, which the Board appeared to be clearly convinced.

In line with the LKCT Mission of Providing quality healthcare, generating employment opportunities and adding maximum returns to shareholders' investment, LKCT proposed to undertake the second phase of the project over a period of 18 months from now. Estimated to cost Rs. 90 Lakhs, the second phase includes construction of new premises, Lecture rooms, Boarding and other related infrastructure for the proposed Nursing College. Impressed with the performance to-date of the Hospital and based on the transparent and timely feedback from the Management, the BOD approved the project in principle and asked for a detailed report on the project within the next 3 months for the formal approval. Further, the Board unanimously decided to retain the privilege of raising necessary funds for the project from among existing Directors, Sponsors and Promoters with a limited provision for members to upgrade themselves as Directors. Regarding outside participation, the Board decided to keep such applications on hold for now until a new mechanism has been established. It was also proposed and agreed that all current owners will be issued with certificates of ownership at denominations of Rs.10,000 each.

Lourdes Hospital Vice-Chairman Charles D'Sa in his address thanked all investors of the project and attendees of the meeting for their generous support in realizing the project and requested them to extend their cooperation for the proposed expansion project too. The meeting concluded following a delicious lunch served by M/s Caesars Restaurant, Gusais Dubai.

            Write a comment