Page 2 - Al-Rashed Newsletter November 2020

CEO'S OUTLOOK

MR. RAVI VARRIER- CHIEF EXECUTIVE OFFICER

Time and tide waits for no man. A moment lost is a moment gone forever.

Everyone has the same 24 hours. It depends on you how effectively you utilize your time.

Being born with time as a finite commodity that we trade to procure other things in life, we often forget the value that has
been endowed upon us in plenty. Wasting it like it comes free, time is usually a misunderstood concept. Extending the
fact to time equals money, we often fail to understand this.

At least in movies, you would have wondered why companies fly top executives in private jets when the first-class seats
in airlines are much cheaper? This works out just fine. Hop in the plane, get down at the nearest airfield near the venue,
finish work and be back home for dinner, instead of the whole hullaballoo of the airport and rush hours and traffic and
hotel stays. Even though the expense for the jet is much higher, the company sees more value in making the executive
spend less time on transit. He is paid to sit on the plane in the time where he could add value to the company

In shipping, every day lost in transit is affecting your supply chain. You delay a day at sea, the stock delays in reaching
the shelf resulting in a possible stock out, making the customer go elsewhere or switch brands. This results in a brand
losing a client or the store losing out on the business of a customer.

A counter argument on having the same 24 hours- time utilization of people with private chauffeurs viz a viz people
using public transport, people who have helps viz a viz people who do their own chores and likes. The net output of such
a thought doesn't imply on the basis that you are rich, have people to attend to you so that you can spend your time on
something 'worthwhile' or that you are poor and spend time on 'mundane' yet essential tasks. The only point said here is
time is time, use it wisely.

A day lost is a day lost. Time is always of the essence.