Al Moammar eyes restructuring plan to tap market opportunities: CEO

Al Moammar Information Systems CEO Ziad Mortaja  

Al Moammar Information Systems (MIS) has a bullish outlook for 2021, backed by its restructuring plan to tap existing market opportunities, CEO Ziad Mortaja told Argaam in a telephone interview.

The COVID-19 crisis has no impact on the company’s operations, thanks to Al Moammar’s solid fundamentals. The company reviewed its operational plan for the 2020 budget, to consider potential market developments, while focusing on shareholders, strategic clients and staff rights.

“Capital hike is linked to Al Moammar’s expansions in technical operations, which serves all sector,” Mortaja said, noting that the medical, industrial and financial sectors rely on information technology in task fulfillment and customer services, which provide great opportunities for various players.

On the future dividend policy, Mortaja added that dividends depend on the company’s vision, market operations and the profit margins expected from projects.

“Al Moammar cannot predict its financial results for 2022 and 2023. However, based on its three-year strategy, the company has a positive outlook for its operations,” Mortaja affirmed, noting that the board of directors will be committed to its dividend policy, if the company maintains a strong balance sheet with healthy profit.

MIS’ board of directors approved, on Jan. 4, the dividend policy for 2021,2022 and 2023, Argaam reported.

Dividend will be distributed on the basis of 45% of annual net profits minimum.