A'Sharqiya Investment Holding Co. (SAOG) (SIHC) Earnings Call Transcript & Summary

Good morning, everybody. So those who have joined the meeting, if there's any questions that you want me to address, please let me know. This is in reference to the first quarter numbers of A'Sharqiya Investment. And do let me know if you have any specific questions or I could just give you a summary. How do you want to do it? David -- Mr. David or Mr. Sam, any of them on the meeting, any questions? Anyway, I assume there is no questions. So let me give you a quick summary. Our financial position, which is inclusive of our subsidiary at this point in time, we have a book value at around OMR 0.162 on a stock price of around OMR 0.072, OMR 0.073. And there is a lot of hidden value in terms of our investment and in our real estate portfolio. If you are following this company, you would realize that our real estate portfolio, which is at Sur, has now received -- and these new lease agreement for 5 years starting from January of this year, so that is going to give us sustainable cash flows. In addition to that, we have a sizable investment portfolio, which is split very judiciously between bonds, equities, long-term investments. And we continue to monitor that progress and look at opportunity whenever it comes up. So we are quite actively following that up. In terms of our growth, well, last year, same time around this period, there was a lot of growth in our equity portfolio, but we have since then also increased our fixed income portfolio. And our relationship with Oman LNG, which is our anchor tenant for our real estate portfolio, continues to be good. So from a summary point of view, I think we are in a very stable position. More importantly, we are a 0-debt company. So that also provides a significant opportunity to leverage in case and when we do come across an investment which is worth pursuing. Typically, our objective of investments is long term. And the intention is to create both value and sustainable cash flow for a longer period of time. And so having said that, from a point of view of EPS, we closed the first quarter at OMR 0.004, and we've got a fairly stable operating income both from a point of view of lease and deals and from the point of view of dividend and fixed income returns. So we continue to hold that view that this is going to be a sustainable and profitable holding as we go along. There has been some volatility in the markets, but these are not unexpected. And I think this -- from a longer-term perspective, this should normalize, and we are well within our objective of value creation and from a point of view of dividend yield. So that kind of summarizes my financials for the first quarter of 2025 for A'Sharqiya and its subsidiary. I'm open for questions or any kind of clarification that you require. [Operator Instructions] I have with me Mr. Srini. Srini is the CFO of the company. And if there is any specific questions regarding accounting treatments or any of the matters relating to accounting and compliance, Srini can assist me in addressing your questions. There seems to be no questions at this point in time. I will give it a couple of more minutes in case you want to revisit your notes and seek any clarification as far as the financials are concerned.

Sam Jones or David Yehuda, no questions?

Well, I assume there is no more questions since 11:10 on my watch. I will -- assuming there is no more questions, I will close this discussion. This recording is available on our website. So feel free to reach out to me or to listen to recording on the website. And thank you very much for joining in. I appreciate your participation today. And feel free to reach out to either me or my colleague, Srini, for any update or clarification you require. On that note, I will close the meeting and end this discussion. Thank you.

Thank you.