سهم أرامكو يسجل أعلى إغلاق له في نحو عام

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00:00 about the Saudi market closure. Mr. Ibrahim Linnweibet, CEO of Kasab Financial, joins us.

00:06 Mr. Ibrahim, welcome to us and thank you for being here.

00:09 Although Aramco still has a green spot and we entered the sixth session on the emergence of these highs,

00:15 but the market is still losing very important levels today to 11,500 points.

00:21 Therefore, can we say that Aramco's influence on the market, which has been extended for more than a week after the announcement of the results,

00:28 has started to disappear and therefore the profit-making processes have started quickly on the market?

00:34 Welcome, Maysa.

00:36 Let's talk about Aramco.

00:41 It has been on the rise for two weeks after the positive and historical distribution announcements.

00:52 The market was in a state of turmoil and Aramco's responsibility was taking over.

00:58 We reached a level of about 11,500 points, which was a level of artistic resistance.

01:13 Today, Aramco, after continuing to sit for more than a session after the announcement,

01:18 and we reached a price increase of 7% on a huge company of this size,

01:24 has returned to the decline or at least not to the continuity of the rise.

01:31 This is normal and today there is no positive trend in the Saudi stock market in general,

01:38 but there are other sectors that support the market, such as the second sector, which supports the market,

01:49 to have any positive trends to achieve highs to create balance and to change centers after the growth in Aramco's price

01:58 and to maintain good price levels.

02:04 This has affected the market and we reached the decline after two days of rising.

02:10 Today is almost the end of the announcement of the results for the second quarter, Mr. Ibrahim.

02:17 So the question now is what are the milestones that we will expect after the end of the season of announcing the results,

02:23 also after the major companies announced, as we mentioned before, Aramco, Banuk for this period.

02:31 Especially that we are still monitoring the most important data in the United States,

02:35 which was issued by the markets in relation to the inflation data, which came somewhat negative.

02:42 Now what is the market waiting for to start the movement again?

02:46 In general, the market, the milestones that were on it after the announcements,

02:55 there was almost a price increase in many companies.

03:00 The banking sector recorded positive results and could be an exception to the highest in its history.

03:10 Banks were focusing on some of them and were improving their prices.

03:16 The energy sector or the basic materials sector is still suffering from the past period

03:24 and the demand for oil has decreased, which affected the oil and petrochemicals products.

03:34 The incentives made us be realistic, they decreased from what they had before.

03:42 Even the growth companies that were good in the previous period,

03:46 they had four times higher profits.

03:50 The new incentive that could be one of the incentives,

03:56 if we look at the indicators of the emerging markets,

04:00 which will be available at the end of this month,

04:04 could be the main incentive after more companies entered the security sector,

04:10 the entering of the cooperative company, and the energy sector, the entering of the accompanying companies.

04:18 This incentive could help the Saudi market to recover from the current situation.

04:28 Ok, Jabal Omari, today, despite the fact that the company was able to reduce part of its losses to 38%,

04:35 the loss-related loss was reflected by 44%.

04:40 But the share is still under pressure of more than 3%.

04:44 In your opinion, Mr. Ibrahim, the current situation of the company,

04:48 especially the regular commitments to the Zakat Authority,

04:52 will it be able to turn the profit into the third quarter at least?

04:58 At the beginning of the first quarter, there was a turn in the profit,

05:02 the company reached net profits in the first quarter of 2023,

05:06 approximately 11 million.

05:08 In the second quarter, the company achieved net profits of about 110 million,

05:13 and the specializations contributed to reducing the profits and turning them into losses,

05:19 which reached approximately 67 million.

05:22 The reason is the transformation of approximately 44 million,

05:25 in addition to the Zakat Authority's specialization of 190 million Riyals,

05:30 for the event that the company announced two days ago,

05:35 which is the announcement of the refusal of the Zakat Authority's specialization,

05:40 which is approximately 357 million Riyals.

05:43 The third quarter, or what we are now in,

05:47 after improving in the first and second quarters,

05:50 in the results and achieving the wills,

05:52 especially in the income of operations,

05:54 we reached more than 300 million Riyals in the second quarter,

05:58 and we expect that the company will achieve positive results,

06:01 in addition to the exceptional income from the sale of land that was previously announced.

06:06 As the company mentioned, the contract will be signed and transferred in July,

06:12 and it will undoubtedly affect the company's results in the third quarter,

06:16 especially since, as mentioned, the acquisition of land was worth 130 million,

06:21 and the sale value exceeded 500 million Riyals,

06:24 so it will affect the total income from the other wills of the company.

06:30 Yes.

06:31 In the third quarter.

06:32 Okay.

06:33 We will list the details of Mahara, but I want to ask you about this growth that we see,

06:37 because it is one of the companies that works well,

06:40 meaning that it has the workforce in the Kingdom.

06:45 Today, it has a 45% increase in the second quarter.

06:49 How do we see the company's ability to maintain growth levels, Mr. Ibrahim?

06:54 And also, are the company's operational activities today reflecting the fair value for Sahem Mahara?

07:00 In fact, there is a continuation of the company's operational wills,

07:05 and this is an important thing for the company.

07:08 The general situation in the Kingdom of Saudi Arabia,

07:13 and the rise in the average and small number of employees,

07:19 will undoubtedly contribute to the rise in contracts for Mahara,

07:25 because if the number of companies that require workers increases,

07:30 contracts will be signed with Mahara,

07:33 and this will contribute to the rise in the number of contracts,

07:36 and this is what the company mentioned.

07:38 Of course, if we notice that this quarter was affected by the rise in prices in the financing cost,

07:43 which is about 10 million,

07:46 if there is a decrease in the financing costs,

07:49 the profits of Mahara will be higher.

07:52 In general, the results achieved by Mahara in the last period,

07:58 and the continuation of the rise in the operational income of Mahara,

08:01 give a good impression, especially with the economic conditions that help this kind of activity,

08:06 which is the activity of the working forces in the Kingdom of Saudi Arabia,

08:11 with the large growth in the number of companies and the economic sectors.

08:16 In general, we will listen to the executive chief in response to this performance of Mahara after the break.

08:21 We thank you, Mr. Ibrahim, to the executive chief of the financial company,

08:26 for all these details. You were with us from Riyadh. Thank you.

08:29 Thank you.

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