Gulf Investment Services
| Name | Gulf Investment Services | |
| Sector | Finance & Insurance - Brokers and asset management firms | |
| Trading | MSM | |
| RIC Code | GISP.OM | |
| Location | OMAN |
Profile and Background
Gulf Investment Services Company (GIS) was established in the spring of 1995 following the flotation of 40 per cent of its shares on the MSM and is now considered one of Oman's largest brokerage firms in terms of brokerage turnover.
It began operations on 21 May 1995 with issued and paid-up capital of RO 4 million ($10.4 million) and RO 2 million ($5.2 million) respectively. The unpaid portion was called up in November 1996 and capital has since been increased further through a rights issue in 1997 and a stock dividend in 1998.
In September 1998, a rights issue was carried out as part of a plan to double capital to RO 19.98 million ($51.9 million). A total of 9.1 million new shares were issued, and at the time of writing were 50 per cent paid-up.
Although continuing to focus on brokerage, GIS has branched out into issue management, portfolio management, corporate finance, underwriting and advisory services. It has lead-managed a number of initial public offerings (IPOs), including those of Gulf Stone Company, National Rice Mills Company, National Sugar Refinery Company, Gulf Mushroom Products Company, Salalah Hilton Company and Bank Dhofar al-Omani al-Fransi - at $83 million, Oman's largest ever IPO.
GIS was the first investment company in Oman to establish a separate financial analysis division and publishes some of the best local research.GIS is now also involved in investment banking and global finance and, in the summer of 1997, broke into fund management with the launch of the First Mazoon Fund with HSBC Financial Services (Middle East).
The fund raised RO 10.3 million ($26.8 million) to invest primarily, either as a founder or at the IPO stage, in companies seeking to raise capital. HSBC is the international investment adviser and global custodian.
It began operations on 21 May 1995 with issued and paid-up capital of RO 4 million ($10.4 million) and RO 2 million ($5.2 million) respectively. The unpaid portion was called up in November 1996 and capital has since been increased further through a rights issue in 1997 and a stock dividend in 1998.
In September 1998, a rights issue was carried out as part of a plan to double capital to RO 19.98 million ($51.9 million). A total of 9.1 million new shares were issued, and at the time of writing were 50 per cent paid-up.
Although continuing to focus on brokerage, GIS has branched out into issue management, portfolio management, corporate finance, underwriting and advisory services. It has lead-managed a number of initial public offerings (IPOs), including those of Gulf Stone Company, National Rice Mills Company, National Sugar Refinery Company, Gulf Mushroom Products Company, Salalah Hilton Company and Bank Dhofar al-Omani al-Fransi - at $83 million, Oman's largest ever IPO.
GIS was the first investment company in Oman to establish a separate financial analysis division and publishes some of the best local research.GIS is now also involved in investment banking and global finance and, in the summer of 1997, broke into fund management with the launch of the First Mazoon Fund with HSBC Financial Services (Middle East).
The fund raised RO 10.3 million ($26.8 million) to invest primarily, either as a founder or at the IPO stage, in companies seeking to raise capital. HSBC is the international investment adviser and global custodian.
Shareholding Groups
| Individuals | 11% |
| Institutions | 13% |
| Floating | N/A |
| Government | N/A |
Board Members (Listed in alphabetical order)
| Director | Ahmed Bin Bakheit Al Shanfari |
| Director | Ali Bin Ahmed Al Mashani |
| Chairman | Ali Darwish Al Tawari |
| Director | Hatem Bin Bekheit Al Shanfari |
| Director | K.K. Abdul Razaq |
| Director | Khaled Bin Said Al Wahaibi |
| Director | Omar Salim Al Shanfari |
| Director | Sheikh Majed Saoud Al-Qassimi |
| Vice Chairman | Sunder Geroge |
Stock Performance
Market Information
| Stock | Oman Index | |
| Last Closing | RO 2.1 | 1832.4 |
| YTD % |  2.328% |  0% |
| Weekly % | 7.236% | 6.57% |
| Year High | RO 3.87 | 1909.5 |
| Year Low | RO 1.96 | 1555 |
| 52 Week High | RO 2.21 | 2951.18 |
| 52 Week Low | RO 2 | 1734.99 |
| BETA | 2.4971 | |
| Outstanding Shares | 7,000,000 | |
| Market Cap | RO 14,700,000 | |
| Market Cap in $ | USD $38,181,818 | |
| % of Oman Market | 0.31% | |
| % of Sector | 0.62% | |
| Rank by Cap | 42 |
Key Figures in '000 RO
| 2004 | 2003 | 2002 | |
| Total Assets | 12,201 | 11,447 | 12,405 |
| Shareholder's Equity | 9,488 | 9,462 | 9,536 |
| NIAT | 1,144 | 1,393 | 479 |
| Dividends | N/A | 1,400 | 350 |
Financial Ratios
| 2004 | 2003 | 2002 | |
| Assets Growth | 6.59% | -7.72% | -0.72% |
| Earning Growth | -17.88% | 190.66% | 0.00% |
| ROaA | 9.67% | 11.68% | 3.85% |
| ROaE | 12.07% | 14.66% | 4.74% |
| No. Of Shares | 7,000,000 | 7,000,000 | 7,000,000 |
| EPS | 0.16 | 0.20 | 0.07 |
| EPS Growth | -17.88% | 190.66% | 0.00% |
| Payout Ratio | N/A | 100.521 | 73.044 |
Valuation Ratios
| Trailing | |
| PE | |
| PB | |
| DVPS | |
| Div Yield | |
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| EV/Equity |
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