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00:00 We turn to Dr. Abdullah Ba'asher, the Chairman of the Board of Directors of the Financial Consultations.
00:04 Welcome, doctor, and thank you for being here.
00:07 We are back to the last moments of the recovery of 11,755 points.
00:13 We saw the results of the presentation today.
00:16 The share price did not react well,
00:21 although the company's performance in the second quarter is better than the first quarter.
00:27 How do we evaluate the performance of the weekly market and these results?
00:31 Hello, Maysa, viewers of CNBC.
00:37 In fact, the Saudi market is a story.
00:42 Why do I say a story?
00:44 Because if you notice, from mid-May until now,
00:48 we are talking about ten weeks or two months,
00:52 it is in the Saudi direction.
00:54 But this Saudi trend sometimes occurs in a low and high rate,
00:59 and this is a natural and healthy result.
01:03 First, we are in a period when many financial institutions are publishing their expectations.
01:10 These expectations may give some incentives, whether by going out or entering.
01:15 This is an influential factor.
01:17 Some companies that always have a leadership in advertising their results,
01:22 and some companies that have been in the lead for ten years,
01:28 have also been affected by the announcement that there is a deficit.
01:33 But this deficit is different from the first quarter.
01:37 This means that financial analysis and financial estimates are an improvement,
01:42 not the opposite.
01:45 This is another factor.
01:47 The real factor that happened in the past two days,
01:52 and it may attract more attention,
01:54 is that it gives you a perspective that is expected, not predicted.
01:57 Because there is a difference between expectation and prediction.
02:00 The expectation is that a deal was made on BankSap,
02:04 and today the deal is on Riyadh or any other place.
02:09 So in the Riyadh sector.
02:12 In the banks sector, I think there is a tendency to build centers.
02:19 If you notice the move that was made yesterday in Al Ahly Bank,
02:23 it gave a hint that it is heading to Saudi Arabia.
02:27 But today, the stock market took a hit as a result of the rise in yesterday's stock market.
02:34 The stock market may be out of the market.
02:37 It is one of the most difficult times to predict the market,
02:42 even for professionals.
02:47 The Oman mountain is another story.
02:50 The Oman mountain is a source of income.
02:54 So this is a recurring demand.
02:57 It has achieved a cost of about 130 to 500 million.
03:03 That is about 300 million.
03:07 It is a recurring demand, but in companies with heavy assets,
03:11 it is a good investment because the return on land sales is about three times.
03:19 It was 130 and sold for 500.
03:22 So why are the rich looking for investment in strong assets like land?
03:30 The results for the advanced sector,
03:34 is it a sign that it can be compared to the rest of the petrochemical sector?
03:38 Because most of the experts today have presented their view that the sector will remain under pressure.
03:43 We heard from Mr. Khalifa Al-Milham that even China surprised the markets,
03:50 including the petrochemical sector, by not returning to activity as expected.
03:54 The advanced sector is not much compared to other European markets.
04:00 The petrochemical sector is before the actual operation of the expected markets and financial companies,
04:09 or even analysts.
04:11 Why? Because the economic situation in this sector is still not recovered after the coronavirus outbreak.
04:18 It was added to by the Russian-Ukrainian war.
04:25 So the two factors are important and crucial.
04:28 In addition to the interaction between OPEC+ and consumers under the leadership of the US and European markets.
04:38 So if you notice, and this is where the so-called political economy comes in,
04:43 the political economy is to price some products according to your political and not economic directions.
04:53 So the real petrochemical sector has entered into a political price more than an economic price.
05:01 This is one.
05:02 Your question is, can we measure the advanced results on the rest of the sectors,
05:10 including the petrochemical sector and the oil and gas sector?
05:15 Of course not. Why?
05:17 Because the production and the goods are different.
05:20 The production energy is different.
05:22 The structure of the companies is different.
05:25 I have a company that is advanced, while the other companies are single.
05:31 Two years ago, there was a merger between Sahara and Chemia, if I remember correctly.
05:38 So there was a merger of two companies.
05:41 As happened in banks.
05:42 If you notice, the results of the family banking and the results of SAAB,
05:47 which had a merger two or three years ago, are not the same as the results of the three years ago.
05:53 So even the comparison in the financial lists cannot be taken after the main event in the same previous year.
06:03 The fundamental analysis always comes from you, Dr. Abdullah Ba'asheh.
06:08 We are sorry for our tight schedule due to the closure of the Egyptian markets,
06:12 but your presence is always an addition.
06:14 We thank you for being with us, Dr. Abdullah Ba'asheh,
06:16 the President and CEO of the Financial Consultations Fund.
06:19 You were with us from Riyadh.