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RAYSUT CEMENT
A big leap forward
Entering the Top Twenty straightaway at the 14th rank, Raysut Cement Company
showed phenomenal growth. In the process, it upset many calculations. The 71.4
per cent growth in revenue is also a testament to the fact that 2006 has been a
good year for the Omani cement industry.
Domestic cement industry saw a sharp increase in demand during the year with the
consumption of cement climbing to 2.7 million tonnes, an increase of 12.5 per
cent over the previous year. Price realisation too remained robust. “We expect
this trend to continue in 2007 and grow by 10 per cent. We further expect the
growth to continue till 2010. Key drivers being a young growing population, low
interest rates and easy financing options, abundant liquidity and legislation
recently enacted to allow foreign ownership. Further, the government’s more
aggressive investment plans have triggered several mega construction projects
especially in real estate and tourism exceeding US$20 billion,” said Mohd. Bin
Alawi bin Ali Muqaibal, Chairman, Raysut Cement, in the annual report.
The positive industry outlook has made the company to further expand its
manufacturing facilities by installing a fourth line of 0.850 million t/a. With
this unit, the company ensures its long-term position as a regional market
player and achieves the critical mass necessary to cope with any unforeseen
external pressures in the future. The company is also expanding its operations
in the neighbouring countries, especially in Yemen where demand is expected to
continue being strong in the short and long term.
Mohd. Bin Alawi bin Ali Muqaibal believes the company’s fundamental strength,
along with macroeconomic elements, will deliver continued strong performance in
future. There has been a decrease in loan funds to RO15.054 million as at 31st
December 2006 as compared to RO20.4 million at the end of the previous year.
With the rising interest rates (LIBOR), the company opted for prepayment of
approximately RO2 million during the year in order to save interest cost.
Further, the company is planning to prepay another expensive loan of RO5.4
million.
√ Back
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May -
2007 |
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Cover Story |
Oman’s Leading Listed Companies in 2006
Mukhtar Hasan analyses Oman’s
largest listed companies in 2006, based on revenues and other
financial parameters. |
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Other Headlines |
Bank Sohar:
Surfing on SMEs
A sixth bank has appeared on Oman’s
financial horizon after 12 years. Abhijit Sinha checks out CEO Nani
B. Javeri’s start-up USP of ‘not just selling a product but also a
solution with that product’ |
Enter the chill-out zone
The AC and refrigerating unit market is soaring regionally as well
as globally, with changing customers’ profile and cutting-edge
technologies adding value to the products |
‘Amouage is a roving ambassador for Oman’
One of the most successful Omani brands, Amouage is on the threshold of a major makeover exercise. David Crickmore, CEO, Amouage talks about the new marketing strategy and growth plans in an interview with Akshay Bhatnagar… |
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An Issue Ignored Is A Crisis Invited
In the quest to achieve its strategic
objectives, an entity has to ensure that it has sound issue
management practices in place to meet the expectations of its
stakeholders, externally and internally. OER looks at what issue
management is all about and its growing importance in today’s
increasingly complex corporate world |
X Means Exhilaration
The new BMW X5 smoothly combines
dynamic driving capabilities, luxury and impeccable technology. A
test drive report by Anne Kurian |
Case for enhancing inter-Arab trade
The 22 Arab nations should look at
realising trade opportunities among themselves, writes Dr Jasim
Husain Ali |
When Dividend stocks in an uncertain market
The coming days may not be smooth
sailing for equity investors, writes Matein Khalid |
Oman is a hidden treasure
Realising the growing stature of
Oman’s oil and gas industry, Atlas Copco, the world’s only
manufacturer of ISO certified oil-free air compressors, opted for
Oman as the venue of its first Oil and Gas MaXimiZe course. Sunil
Kumar Singh caught up with the organisers |
China’s Middle East Policy
The likely result of the intense
competition in Central Asia could mean that the Chinese majors may
be looking to place their investments in fields closer to home, away
from the Gulf |
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What to do next?
Managers devote time to
strategy-making because they want some degree of certainty that they
can direct their firm towards success |
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A novel to Communicate!
Oman Mobile recently launched Corporate Private Network for its NAMA post-paid
connection with loads of benefits for customers at down-to-earth prices |
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Opening the doors
Smart Manufacturing conference was an exceptional networking and knowledge
transfer event granting manufacturers a chance to enhance their bottom line. An
OER report on the recent two-day event |
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The Wave, Muscat
An Idyllic Island Lifestyle |
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Regulars |
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