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00:00There is no doubt that today's economic, tourism, and population growth in Dubai have all contributed to the results achieved by Texas and Dubai.
00:11Also, the high operational efficiency of the company in the rent sector, taxis, school transport, and transportation,
00:22all contributed and affected the results achieved in the first quarter.
00:26Thank God, we will continue in the same way until the end of the year to achieve profits and excellent results that reflect the confidence of investors and reflect the performance of the company at the level of Dubai.
00:38Yes, how was the increase in the number of taxis today, Mr. Mansour?
00:44And what is the target for 2024 with the increase in the size of your fleet?
00:51Regarding taxis, we announced earlier this year that we will double the number of taxis at Dubai's airports.
01:00There is no doubt that Dubai's airport is the busiest airport in the world.
01:07This has given us the benefit of achieving excellent results.
01:13Therefore, thank God, we were able to double the number of taxis from 350 to 700.
01:19In addition, we won in the last round by launching 94 additional taxis.
01:26All of this gave us today the number of taxis and the number of the fleet as a whole.
01:32We are talking about the level of the entire fleet of 7,800 taxis between buses and taxis.
01:39There is no doubt that doubling the number of taxis at the airport and at the level of the city will contribute to the growth and control of the market today in Dubai.
01:52How large was the investment to double the number of taxis you have during this period, Mr. Mansour?
02:00As I mentioned, we doubled the number of taxis at Dubai's airports and we won 94 additional taxis.
02:08In addition, we will continue to launch new taxis.
02:13There will be a strong participation in any new taxis that will be launched before the end of this year, God willing.
02:20On the other hand, we are also seeing a large investment in technology to compensate for this expansion.
02:27How much is the company's focus on technology today and how much does this reduce the timing process for you to reach customers at the same time?
02:39There is no doubt that today the main pillar of the company is the investment in technology.
02:47We were ahead in this field by launching the first application at the level of rental companies, which is the DTC app, in 2019.
02:57We also invested in artificial intelligence and big data.
03:01All of this contributes to improving the operational efficiency and reducing the loss that occurs through the rotation of vehicles at the level of the UAE.
03:09All of this contributes to the fact that the driver drives the vehicle efficiently and reduces the number of lost kilometers.
03:16There is no doubt that we are investing more in this area.
03:20In addition, we have launched a new control center for the company and a communication center that serves customers.
03:27In addition, we have launched a new control center for the company and a communication center that serves customers.
03:40We also saw that you have a loss of trust of 3.8 million dirhams, Mr. Mansour.
03:50Therefore, the cost of financing will remain high with this expansion.
03:57Can we see a reduction in the period of the second quarter for the total loss of trust?
04:04Yes.
04:05As for this issue, part of the writing process was to obtain payments from the bank that we deal with.
04:15This is normal for any company that wants to go to the level of the UAE, and even for normal issues.
04:22This will not affect the company, because we study our operations in a precise way.
04:28This will not affect the company, because we study our operations in a precise way.
04:40We calculate all these factors so that they do not affect the company.
04:45If there is a reduction, we will announce it at the time of the expansion.
04:51Mr. Mansour, are you only relying on lending?
04:57Can we see a mix of lending, bonds, or even trusts for the company?
05:06There is no doubt. These tools are available.
05:09We have a strong relationship with the existing banks and banks.
05:13There is no doubt that we will use these tools.
05:21But all this will be subject to the process of acquisition or growth that we are thinking about,
05:27for example, outside the framework of work that we do,
05:31whether in transportation, vehicles, parties, and bicycles.
05:35But God willing, this will be studied.
05:37It will be presented to the House of Representatives.
05:41God willing, we will make the right decision to reflect the company's growth in the coming days.
05:48Is there any intention to increase the distribution of contributors now that you have some growth and profits?
05:54Contributors deserve all the best from us.
05:57We trust them.
05:59We consider it an obligation before it is an obligation.
06:04This will certainly be subject to the decisions of the Board of Directors.
06:08God willing, we will not hesitate to redistribute the dividend payout.
06:18But this will certainly be subject to the company's situation.
06:22But we promise, God willing, that we will do our best to enhance the company's position,
06:30growth, profits, and expectations from these contributors.
06:38In the end, the decision will be made by the Board of Directors.
06:43I do not expect anything to be lost in terms of the expected benefit from the company to all contributors.
06:51I would like to ask you, Mr. Mansour,
06:53about the stage we went through due to the weather conditions in the UAE recently.
06:58Some are certainly wondering if there was direct damage to the number of vehicles or carriages at this stage.
07:07And if so, how was it dealt with?
07:10Of course, there is no doubt that the UAE governorate in the UAE specifically, the UAE of Dubai,
07:17was not expected.
07:20It was the first time in 75 years.
07:23And everyone imagines the damage.
07:25But I always like to focus on the issue of not the value of the damage or the size of the damage,
07:31but the issue of return.
07:34Was it fast?
07:35Were we motivated and trained in the right way?
07:38The answer is yes, thank God.
07:40The impact was limited to the extent of our operations.
07:44We completely returned.
07:45In the past, we may have needed more than 100 days to return.
07:48Today, I am talking about only 15 days.
07:51We returned with full operational efficiency.
07:53And in the end, and before everything, of course, the safety of the drivers, the safety of the drivers,
07:59and as much as we can reduce the damage.
08:02In principle, this is the main point that the company always thinks about.
08:06Because other things, God willing, will be compensated, there is no doubt.
08:10But the value of the impact or the damage was not in the expected image, or in the image, let's say,
08:15that we were afraid of.
08:17In addition, thank God, the recovery was very fast.
08:20And this is a reflection of the company's flexibility and agility, and also its readiness for such scenarios.
08:25But who has caused the damage so far?
08:28I mean, on the vehicles, or the buses, or the bicycles you have?
08:31No, no.
08:32Yes, it was limited.
08:33Thank God, the buses were not damaged.
08:35Because, as you know, at that time, the study was remote.
08:39As for the bicycles, it was a simple thing.
08:41And of course, there is no doubt that the big damage was on the vehicles.
08:44But as I mentioned, we are back to 100% operational efficiency.
08:48All the cars have returned to their operations completely.
08:51In all the areas where we provide PSA, whether in the airports or even at the Dubai airport,
08:56in the period of 15 days, as you mentioned.
08:58And thank God, today, all our work and our origins are covered by different insurance policies.
09:05And this, of course, will be a kind of reduction of the risk that was involved in this kind of incident.
09:16And thank God, the damage was not as expected.
09:19And most importantly, as I mentioned, we are back to work completely.
09:24Because in the end, Dubai hears first of all that the services are available.
09:29And of course, the return and financial return is also important for the company in such cases.
09:34Yes.