In line with its previously defined commitments, following the recent IPO to form the company, Nass Corporation BSC is progressing steadily with implementation of its corporate governance commitments.

The company is developing and refining its internal systems to fit in with international best practices. The corporation has been working on a corporate governance plan that specifies the distribution of rights and responsibilities of the Board Members and Senior Managerial Staff, spelling out the rules and procedures for decision-making on matters relating to corporate affairs.

Good corporate governance is a corporation's responsibility to promote corporate fairness, transparency and accountability, an essential foundation for the future of a newly listed entity.

'The management team has adopted a proactive approach and following Nass Corporation's board meeting last month, the Board has moved ahead on constituting its Audit and Remuneration Committees. These will comprise Non-Executive Independent Directors and will become functional in due course,' said Mr Hemant Joshi, Advisor to Nass Corporation's BSC Board of Directors.

'This is a very important first step, following which the rest of our corporate governance plan will be implemented. Our portfolio of activities continues to grow and we remain committed to ensuring a thorough view of our affairs in order to maintain the high level of confidence we have earned from our stakeholders,' added Mr. Joshi