The Education Minister warns of Houthi attempts to seize assets and funds of Kamarun Company.
Houthi Militia's Illegal Attempt to Seize Khamran Company Assets Warned by Minister
The Minister of Information, Culture, and Tourism, Muammar Al-Eryani, has issued a stern warning regarding the Houthi militia’s efforts to unlawfully control the assets and funds of Khamran Company for Industry and Investment. This warning follows the militia’s illegal assembly of what they termed a “general assembly.”
Objectives Behind the Houthi Move
Al-Eryani explained that the Houthi militia aims to siphon off the company’s revenues, which serve as a crucial source of funding for the national treasury. He noted that this illicit activity could facilitate money laundering and other illegal business ventures, putting the company and its well-known brand at risk of international economic sanctions due to its classification as a terrorist group.
Legal Concerns Over the Assembly
The minister emphasized the illegality of the meeting held on September 30, 2024, stating that it lacked the necessary quorum and occurred unilaterally, without the presence of the majority of shareholders. This meeting contravened both the law and the company’s bylaws, which were amended in 2014. Additionally, the assembly did not receive a formal invitation from the board of directors. Notably, the Houthi militia appointed several of its leaders to the board, circumventing the existing shareholder list in an attempt to hijack the company’s decision-making process.
Government’s Commitment to Khamran Company
Al-Eryani highlighted the government’s commitment to ensuring the continuity of Khamran Company, Yemen’s leading cigarette manufacturer, established in 1963. The government has worked diligently to maintain the company’s operations and reputation on local, regional, and international levels. This effort aims to shield national revenue-generating companies from political conflicts within the broader economic framework, ultimately serving the public interest.
Exploitation of Company Resources
The minister pointed out that, particularly after the reopening of the Hodeidah port, the Houthi militia has exploited the company’s activities and its established reputation. They have taken steps to obscure the importation of raw materials while preventing the export of products to the company’s branches in liberated provinces. This strategy seeks to eliminate any revenue streams for the legitimate government and create opportunities for smuggling and counterfeit cigarette operations.
Targeting Company Assets and Shareholders
Al-Eryani accused the Houthi militia of attempting to seize the company’s assets, including properties and land, through intimidation and coercion. Their goal appears to be the “Houthi-ization” of the company, either by taking control of it or undermining it in favor of newly established companies that benefit from special laws. These new entities reportedly engage in smuggling various cigarette brands, including “Shamlan,” “Manchester,” and “Modern,” while also counterfeiting local trademarks and products.
Call for International Action
The minister emphasized that these actions confirm the Houthi militia’s ongoing plan to dismantle both the public and private sectors, ultimately jeopardizing national companies and major commercial entities under their forceful control. He urged the international community and the United Nations not to remain passive as the Houthi militia systematically targets commercial enterprises and national capital. Al-Eryani called for the immediate classification of the militia as a “global terrorist organization,” along with steps to pursue and hold its leaders accountable, ensuring they do not escape justice.
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