Salik Company PJSC: Pioneering Toll Gate Operations in Dubai with Promising Prospects
An in-depth look into Salik Company PJSC's operations, financial performance, and future prospects.
Summary
Salik Company PJSC, Dubai's exclusive toll gate operator, exhibits promising prospects despite a slight dip in the 1-month yield. The company's strategic positioning and exclusive rights to operate toll gates across Dubai offer a strong foundation for future growth.
Salik Company PJSC, the exclusive toll gate operator in Dubai, has shown resilience in its financial performance with a 3-month yield of 0.12%, despite a slight dip in the 1-month yield at -0.01%. With a market cap of 25,800,000,000, the company shows considerable stability and potential for growth.
Established in July 2022, Salik operates eight automatic toll gates across Dubai, with the majority strategically located on Sheikh Zayed Road, Dubai's main road. The company's use of Radio Frequency Identification (RFID) technology has set a new standard for toll gate operations in the region.
Under a 49-year concession agreement with the RTA, Salik holds the exclusive right to operate current and future toll gates across Dubai until 2071. This agreement provides the company with a unique advantage, securing its position in the market for the next five decades. Furthermore, the company is also allowed to engage in new business activities within and outside Dubai, opening up more avenues for diversification and growth.
Despite the short-term dip in the 1-month yield, the company's long-term prospects look promising. The strategic positioning of the toll gates, the exclusive rights to operate, and the potential to diversify business activities all contribute to a bright future for Salik.
Considering these factors, it may be an opportune time for investors to consider Salik Company PJSC as a potential addition to their portfolio. While the company's shares may experience short-term volatility, the long-term growth prospects make it a worthwhile consideration for investors with a long-term perspective.
Source
Summary
The Chief Executive Officer of Salik Company (PJSC), Ibrahim Sultan Al Haddad, has informed Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, that the Securities and Commodities Authority has approved the publication of the Annual General Meeting. The meeting is scheduled to take place on Thursday, 4th of April 2024 at 1pm, both virtually and physically at the Al Ras Ballroom, Intercontinental Hotel, Dubai Festival City.
Summary
Salik Company PJSC has invited shareholders to its Annual General Assembly Meeting (AGM) on 04 April 2024. The meeting will be held both virtually and physically at the InterContinental Dubai Festival City hotel. The agenda includes approving the meeting secretary and vote collectors, reviewing and approving the company's 2023 financial reports, and considering a proposal for a cash dividend distribution. Other items include reviewing the Board of Directors' remuneration, and discussing potential actions regarding the board members for the fiscal year ended on 31 December 2023.
