Oman Economic Review – July 2019

50 July 2019

A

syad Group has registered
rapid growth in the last six
months due to sales increases
and new revenue streams,
resulting in a EBITDA growth
of 14 per cent and a forecast of 23 per
cent growth overall for 2019, according
to Abdulrahman Al-Hatmi, group CEO.

At the Asyad Group Leadership Team
hosted group-wide employee meeting –
branded as Majlis Asyad – to showcase
the group’s performance from the
first half of 2019 and outline keynote
initiatives for the second half of the
year, Abdulrahman Al-Hatmi, said,
“I am pleased to say that 2019 is set

to deliver our best Group financial

performance to date.” The shareholder

value increased from 16 per cent to 22

per cent in the first six months of 2019.

Linking ports

The freezones are progressively

attracting FDI. “We are integrating

our services across the value chain to

strengthen Oman’s position as a logistics

hub. Plans are on the anvil to link all the

three ports-Duqm, Sohar and Salalah.”

The Majlis, which took place at Oman’s

Convention and Exhibition Centre,

featured overview presentations on

current operations and upcoming plans,

as well as a question and answer session

for attendees. The event was attended

by 500 employees & stakeholders from

across the Group. The regular event

aims to build alignments and synergy

through all the operating companies

that are part of the Asyad Group.

Among the key highlights announced at

the Majilis included:

• Group ports are forecast to see
  a 27 per cent growth in bulk
  volumes and 14 per cent growth
  in container volumes in 2019


• 2019 FDI investment in the Sohar and
  Salalah free zones has reached $500

LOGISTICS

Asyad Group has delivered rapid growth in the last six months due

to sales increases and new revenue streams, resulting in an Ebitda

growth of 14 per cent and a forecast of 23 per cent growth overall

for 2019. Oommen John P reports