Malta Stock Exchange Executive Spotlight: Recent Episodes
Malta Stock Exchange
The Malta Stock Exchange is pleased to present our new podcast channel, during which we will interview some of Malta's most influential executives and thought leaders representing Malta's business and financial industry. The interviews will be held via a live webinar where our viewers choose to ask questions alongside our arranged program. Do join us and gain insight into how the Maltese business community have helped drive one of the EU fastest growing economies.
Join us for an in-depth conversation with Dr. Louis de Gabriele, Managing Partner at Camilleri Preziosi. With years of expertise in litigation, Dr. Louis de Gabriele offers valuable insights into key industries, including the impact of Artificial Intelligence and regulations, the Maritime sector, and the top reasons to invest in Malta. This interview is filled with crucial information for anyone interested in these topics.
Join us for an exclusive interview with Geoffrey Fichte, the CEO of HSBC Bank Malta, as he shares his expert insights on Malta's banking landscape. With decades of experience in the financial services industry, Mr. Fichte provides invaluable perspectives on the challenges and opportunities facing banks in Malta. Discover key trends, regulatory updates, and the future of banking in this dynamic region. Whether you're a finance professional, a business owner, or just curious about Malta's banking sector, this video is packed with essential information.
In this insightful episode of the Executive Spotlight, Dr Andre Zerafa, Managing Partner of Ganado Advocates, shares his deep knowledge of the Maltese financial industry. Dr Zerafa discusses the unique advantages Malta offers for startups and businesses in finance, including its robust regulatory framework, strategic location, and supportive business environment. Whether you're an entrepreneur, investor, or business professional considering Malta as a base for your financial ventures, this video provides invaluable insights and reasons why Malta is an ideal choice for launching and growing in the financial sector.
MSE Executive Spotlight: Interview with Jesmond Gatt, Malta Financial Services Authority, Chairman
In this episode of the MSE Executive Spotlight series, MSE CEO, Simon Zammit is joined by Tarcisio Barbara, Public Relations Officer, and Anthony Farrugia, Vice-President from the Malta Association of Small Shareholders (MASS) who give an overview of the work carried out by the Association.
The Malta Stock Exchange (MSE) hosted another Executive Spotlight webinar with the special guest being Louis Farrugia, Chairman of Farsons Group, an organisation listed on the Exchange. The webinar was facilitated by MSE Chairman Joseph Portelli.
In his introduction, Mr Portelli said: “Farsons is one of Malta’s most iconic brands, having produced some of the island’s most loved beverages over many decades and has evolved over the years to venture in new businesses. It is one of the best performing stocks on our list.”
Louis Farrugia outlined the company’s history, explaining how the family originally ran a flour mill which had been burned down in the riots of 1919. The family eventually made the decision to venture into brewing rather than rebuild the flour mill and Mr Farrugia’s father, also named Louis, designed the first brewery in 1928. This was eventually built in Farsons Street in Ħamrun. At the time, Farsons’ main competitor was British company Simonds, which would eventually merge with the company owned by the Farrugia family.
The Farsons brewery in Imrieħel was designed and built in 1948. At that stage, a cousin of Mr Farrugia took over the operations and came up with the idea of producing a new soft drink, Kinnie, which is still going strong today.
Mr Farrugia said that nowadays, the company employs around 900 people and boasts a very interesting portfolio that has expanded into food and beverage services, fast-food restaurants and the bottling of soft drinks.
“Our business model is to market both local and international brands, especially since Malta is a relatively small market. We make it clear to whoever we work with, from Pepsi to Burger King and KFC, that Farsons will take good care of their brand,” Mr Farrugia said.
Touching on the effects of the pandemic and the war in Ukraine, Mr Farrugia explained that at the height of COVID-19, Farsons cut back on costs and overtime and directors experienced a cut in salaries across the board. This, along with help from the government’s wage supplements, played a crucial role in reducing the company’s debt during those challenging times.
Asked by Mr Portelli about further growth of the company, Mr Farrugia said: “Our aim going forward is to establish Cisk as a regional brand. We have already managed to enter markets like Bahrain and Qatar, and around 6 per cent of the beer we produce is sent overseas. Cisk is definitely being recognized as a brand abroad.”
The webinar ended with questions posed to Mr Farrugia from those attending the event.
The webinar with Farsons Group was the third in the Executive Spotlight series, the most recent was held in February with AX Group Founder and Chairman Angelo Xuereb and Chief Executive Officer Michael Warrington.
The Malta Stock Exchange (MSE) held its second webinar in the MSE Executive Spotlight series. The guest speakers were Founder and Chairman of AX Group, Angelo Xuereb and Chief Executive Officer Michael Warrington. The webinar was hosted by MSE Chief Executive Officer, Simon Zammit.
In his introduction, Mr Zammit congratulated once again Mr Xuereb on being bestowed the ‘Lifetime Achievement 2021’ award during the MSE’s Annual Awards Dinner in November.
Following a brief overview of AX Group’s History, Mr Xuereb stated that the group’s strength lies in the quality of its projects, and this will remain a priority even as AX Group expands further. While the pandemic certainly posed its challenges, the group was able to build up its finances steadily and secure its diverse asset base. Mr Xuereb explained that AX Group also focused on developing its own premises, such as the new Mosta Head Office, which was completed in October 2020, and Falcon House in Sliema.
During the pandemic, AX Group was also able to progress on the refurbishment of the AX Seashells Resort at Suncrest project, a flagship project for its hospitality portfolio. “When we decided to expand the resort, we set an ambitious target to do so by spring 2023 in order be in a position to benefit from the expected increase in tourism post-pandemic,” Mr Xuereb said.
When discussing AX Group’s recent issue of shares and unsecured bonds, Mr Warrington confirmed that 6,000 bond holders have remained loyal to the group even in the recent months and years. “We are living in challenging times, and while our shares and bond issues were successful, we need to ensure that those who placed their trust in our group, see their investments grow over time”, Mr Warrington said.
Mr Xuereb and Mr Warrington also touched upon AX Group’s ambition to expand in profitable sectors overseas in the future.
The first webinar of the Executive Spotlight series was hosted by MSE Chairman Joseph Portelli and was held in December. It featured the Chief Executive Officer of the Malta Financial Services Authority (MFSA) Mr Joseph Gavin.
The next webinar will be held in March and will feature Mr Simon Naudi, CEO of International Hotel Investments plc.
The Malta Stock Exchange (MSE) held the first of a series of informative webinars with the title MSE Executive Spotlight. The first guest speaker in this series was the newly appointed Chief Executive Officer of the Malta Financial Services Authority (MFSA), Mr Joseph Gavin. Other executives from various entities quoted on the MSE will be interviewed in the coming months, as part of this series.
After a short introduction by MSE Chairman Mr Joseph Portelli, Mr Gavin spoke about the regulator’s role in financial services. The MFSA CEO said that, following the financial crisis, the notion that an institution is “too big to fail” is no longer acceptable. He said that the solution lies in upping the game in terms of using technology and IT for regulatory reporting while emphasising the importance of digitisation in increasing efficiency.
Asked about his first impression of the MFSA, Mr Gavin said that he was impressed by the excellent level of commitment and calibre of the people who work at the Authority. Whilst thanking all those working at the MFSA, Mr Gavin said that the challenges being faced are mainly in relation to streamlining operations and reducing bureaucracy. He said that with investment in IT systems these challenges will be overcome and process turnarounds will be quicker.
Speaking about asset management business, Mr Gavin said that this is one of the priority areas for the Regulator. The asset management sector was performing well for a significant period of time but has experienced a decline around five years ago, also due to certain regulatory constraints coming from the EU.
The MSE Executive Spotlight also featured questions from the audience. The next webinar, which is scheduled for January will feature Mr Angelo Xuereb, Founder and Chairman of the AX Group of companies and Mr Michael Warrington, AX Group Chief Executive Officer.