Muscat – The exchange circulated a letter urging companies to disclose their initial analysis of the situation. In response, nearly 30 companies have issued public disclosures detailing the anticipated or negligible impact of these new tariffs on their operations.
The disclosed information reflects the companies’ assessments of the economic and financial implications stemming from the US decision to increase tariffs. Among those responding were major firms such as OQ Base Industries, Asyad Shipping, Bank Dhofar, Dhofar International Development & Investment Holding, Barka Desalination, Oman Education & Training Investments, Salalah Port Services, Al Maha Petroleum Products Marketing, Renaissance Services, Al Anwar Ceramic, Dhofar Insurance, Madina Takaful, Musandam Power, Takaful Oman, United Finance, Oman Qatar Insurance, Jazeera Steel Products, Arabia Falcon Insurance, National Detergent, National Aluminium Products, and Renaissance Services, among others.
Several companies offered specific insights:
Al Nahda Services clarified that the new tariffs are not expected to have any significant impact on their operations. The company highlighted that 65 percent of their total expenditures are locally sourced, which mitigates the potential effects of global economic fluctuations or disruptions in global trade.
Port of Salalah indicated that, initially, they do not foresee any direct or indirect impact from the US tariff increase. However, given the port’s dependence on global shipping conditions, they are continuing to assess how the new tariffs could affect their financial and operational position.
OQ Base Industries confirmed that their established risk management strategy, which focuses on political and market volatility, would shield them from any adverse effects. They also emphasized that their diversified customer base further insulates them from tariff-related risks.
Asyad Shipping stated that while there is no immediate material impact, the broader maritime sector could see fluctuations in charter rates and shipping costs due to changes in global trade patterns and the newly imposed tariffs.
Bank Dhofar mentioned that while the tariff hikes may lead to increased market volatility, particularly concerning equities and interest rates, they do not anticipate a direct impact on the bank’s activities or investments. The bank noted that managing such risks is an integral part of their operations.
Renaissance Services disclosed that the reciprocal tariffs imposed on Oman and other GCC countries by the US government would not materially affect their operations. However, the company acknowledged the possibility of indirect impacts arising from global economic slowdowns or disruptions in trade
