Oman National Engineering & Investment Company SAOG ($ONES)

[Foreign Language] I will be talking in Arabic, but the presentation will be in English. So in line with the government instructions to take Arabic as a main language, I'll be speaking in Arabic and the presentation will be in English, and I will be very happy to answer later any question in both Arabic and English. [Foreign Language] This may be -- [indiscernible], you can talk a little bit about it. Maybe, [indiscernible], you can talk a little bit about these financial numbers.

So as we see in terms of -- this is the -- we are going to quickly walk you through the balance sheet and the P&L. So if we see on property, plant and equipment, the major variation is mainly on account of depreciation and some of the purchases that has been done during the period and some revaluation impact. In terms of investment property, also, it's mainly on account of depreciation. Subsidiaries, we have done -- added quite a few subsidiaries and that amount increase is on account of the addition of subsidiary values. Investments is mainly in terms of the security maintained by the company. The slight decline is because there was the part of almost 1.2 million deposits, which company -- which has moved from long term to the short term. That's why this number has reduced. Overall, if we see security value, it has seen a jump on a year-to-year basis. The financial contract assets are the ones which our CEO highlighted in terms of a key contribution from ONEIC for long-term visionary investments in BOO and BOOT kind of projects and the company generates good sizable profits in these projects. This is the short-term portion of the -- inventory is basically for day-to-day [indiscernible]. We don't use much of inventory, except for the day-to-day use. The receivable, as we are in the debt purchase business, the number looks a bit on a higher side. But because, as per the accounting standard, the revenue moves through P&L only for the commission part. That's why the number in receivable looks a bit higher. But if we see the numbers are well controlled and as per the standards.

[Foreign Language]

On the equity side, the main change is on account of retained earnings and the company net worth stands at around OMR 33.7 million as of now as compared to OMR 31 million last year.

[Foreign Language].

In terms of loan, if you see, the part of the loan is towards the general working capital as majority of the loan stands towards the contract assets, which is in company investment towards BOO and BOOT project, which is healthy and these are profit-generating components for the company. And the company, part of its diversification plan is focusing a lot towards moving its investment towards BOO and BOOT kind of projects. And accordingly, the expectation is that the loan numbers may look a bit higher on the side because there are some major projects under discussion, and we have some positive expectations about the company's performance in the coming period.

[Foreign Language]

In terms of P&L, if we see on a year-to-year basis, there is a drastic increase in the revenue, mainly on account of new and bigger projects that ONEIC is participating in now. The other associated costs like staff costs, operating costs has a direct connection with the revenue generated. On a year-to-year basis, the company has improved its profit from OMR 2.8 million last year to OMR 3.2 million this year.

I'm happy to answer any question, whether in Arabic or English related to '25 or the company in general. [Foreign Language] Anybody has any questions about this session? Our presentation is available and it will be in the Muscat Securities Market. As usual, we just announced our Q1 results, [Foreign Language] was positive within the budget. And I think '26 also will be positive [Foreign Language] as planned, maybe better than planned. If there is anything to be declared, it will be declared through Muscat Securities Market and as I said, [Foreign Language] we are available to anybody anytime [Foreign Language].