Robust institutional investor    

AbdulAziz Al Balushi, CEO, Ominvest

During 2018, Ominvest made considerable progress – despite a difficult economic environment

Oman International Development and Investment Company (Ominvest) is one of the oldest and largest investment holding companies in the region. It operates around its six strategic platforms which comprise (i) banking, (ii) insurance, (iii) leasing, (iv) real estate, (v) investment banking and (vi) financial investments (public and private equity investments). The company’s objective is to seize attractive investment opportunities within these verticals to establish a diversified and steady stream of income through share of profits from underlying investments.

Over the past four years, Ominvest has successfully implemented its investment philosophy and business model. As a result, the company has attained remarkable revenue diversification and significantly reduced downside risks to its profitability. In Dec-2014, banking sector investments accounted for 82 per cent of Ominvest’s revenues, while by Dec-2018, banking sector accounted for just 44 per cent of its revenues, as Ominvest’s new businesses in other sectors including insurance, leasing, and real estate have added additional revenue streams.

In 2018, Ominvest strengthened and optimised its capital structure by raising RO250mn at attractive terms from leading local and international banks and prominent Omani institutional investors. Real estate subsidiary, ORIS, successfully completed its major project – Ominvest Business Center (OBC) and the company’s head office moved to the penthouse at OBC. Ominvest increased its equity stake in its leasing associate National Finance Company (NFC) to 35 per cent to play a more active role on NFC’s board and provide strategic support. The fully owned subsidiary and private equity arm, Jabreen Capital, acquired an additional stake of 6.5 per cent in Bank Muscat at attractive valuation, taking its overall stake in Bank Muscat to 9.6 per cent in addition to securing a board seat. Jabreen Capital also continued to build its education platform through the acquisition of a 15 per cent stake in a K12 school in Dubai.

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