Muscat – In this exclusive interview with Muscat Daily, Muhsin al Rustom, Group Chief Financial Officer of Asyad Group, shared insights into the group’s long-term strategy, growth trajectory, and commitment to sustainability. He elaborated on how Asyad is aligning its operations with Oman Vision 2040, transforming the sultanate into a global logistics hub, and advancing national and international Sustainable Development Goals (SDGs) through innovation, green initiatives, and strategic partnerships. Rustom also discussed Asyad’s robust financial performance, international footprint, and the role of UN Global Compact membership in shaping Asyad’s approach to sustainable trade and investment, offering a comprehensive view of how the group is positioning Oman at the forefront of regional and global logistics.

How does Asyad Group’s long-term strategy align with Oman’s Vision 2040, and how do you define the group’s role in transforming Oman into a global logistics hub?

Asyad Group’s strategy is closely aligned with Oman Vision 2040’s focus on economic diversification, infrastructure development and attracting foreign investment. Since 2016 the group has consolidated ports, shipping, free zones, logistics and public transport into a single, multimodal platform that optimises asset utilisation, shortens transit times and supports industrial clusters. This integrated approach enables end-to-end trade flows, creates jobs, and positions Oman as a competitive gateway for global supply chains.

With a physical presence in more than six countries and services spanning over 90 global locations, how does Asyad manage such a wide operational network? Which geographies or trade routes are your next targets for expansion?

Maritime assets and presence are central to Asyad’s global logistics proposition, enabling end-to-end integrated logistics solutions and reliable supply chain connectivity. Oman’s strategic location, at the crossroads of East–West trade lanes, enhances this advantage, positioning Asyad to serve as a natural hub for regional and international trade. We are continuing our plans to further expand our presence and fleet size to meet the growing international and regional demand.

Sustainability is increasingly central to business strategy worldwide. How has Asyad integrated sustainability into its core business strategy?

Sustainability is embedded at the core of Asyad’s strategy. The group aligns its operations with Oman Vision 2040 and the UN SDGs, prioritising decarbonisation, green trade and socio-economic value creation. Practical measures include investment in cleaner shipping technology, renewable-powered port and free-zone infrastructure, and digitalisation to reduce inefficiencies and emissions. Progress is reported annually in Asyad’s ESG disclosures, and sustainability considerations are now an integral part of our capital allocation decisions, as well as procurement and treasury risk management approach.

Asyad became the first Omani company to join the UN Global Compact (UNGC). What motivated this decision? How does Asyad Group align its operations with the principles of the UNGC?

Asyad became the first Omani company to join the UN Global Compact in 2023. This move was driven by the group’s commitment to international best practices and Oman’s sustainability agenda. The UNGC membership reinforces adherence to the Compact’s principles on human rights, labour, environment and anti-corruption and complements Asyad’s internal governance, ISO standards and net-zero ambitions. Operationally, Asyad advances clean energy, ESG compliance, and responsible procurement, embedding the UNGC framework into day-to-day business.

How do you see Asyad’s UNGC membership positioning the company to support Oman’s national SDG priorities? Which SDGs does Asyad prioritise and how does it promote them?

Asyad’s UNGC membership directly supports Oman’s Vision 2040 by embedding sustainability into logistics and trade development, a sector identified as a national growth engine. The group prioritises SDGs on climate action, clean energy, innovation, and sustainable cities, integrating them across ports, shipping, free zones, and transport. Initiatives include green shipping corridors, green-powered logistics facilities, and digital trade platforms, illustrating how Asyad promotes efficiency and competitiveness while advancing national SDG targets. By aligning projects with UNGC principles and Oman’s SDG roadmap, Asyad positions the sultanate as a regional leader in green logistics while ensuring long-term economic and environmental impact.

You, as Asyad’s Group CFO, are a board member in the UNGC’s CFO Coalition, an organisation that brings financial leaders together for SDGs under the UNGC umbrella. What inspired you to join this coalition? How do you plan to expand Asyad’s contributions to the SDGs in coming years?

As Asyad’s Group CFO, I joined the UNGC CFO Coalition as a board member to accelerate the alignment of corporate finance with the SDGs and to bring global best practice to Oman. The Coalition’s membership is achieved by invitation-only, it provides insights and tools to align financial strategies with sustainability. Asyad is advancing initiatives to design a structured finance framework for green financing, enabling greater capital access. It plans to embed SDG KPIs into investment decisions, expand sustainability-linked financing, enhance ESG reporting, and leverage Coalition’s network to channel more capital into green logistics and energy transition projects.

Asyad also recently became a member of the UNGC Sponsorship Program, elevating the group’s global visibility on sustainability through UNGC events and publications. This move amplifies Asyad’s role in advancing the SDGs while positioning Oman’s logistics sector on the global sustainability map.

What advice would you give to other companies and their CFOs who may consider joining the UNGC and its CFO Coalition?

For other companies, joining the UNGC and CFO Coalition offers a strategic framework, credibility with investors, and access to global best practices. Finance leaders should integrate SDG metrics into capital allocation, pursue sustainability-linked instruments where appropriate, and use the networks available through the UNGC and CFO Coalition to mobilise capital toward measurable impact.

Asyad has sustained a 17% compound annual growth rate (CAGR) in revenue since group’s inception in 2016. The group also reported a 55% growth in net profit in 2024. What were the key drivers behind this robust performance?

Asyad’s sustained growth is a reflection of our long-term vision, disciplined execution, and unwavering commitment to Oman’s logistics transformation agenda under Vision 2040. The 17% CAGR and 55% profit growth in 2024 were driven by several integrated factors revolving around building a resilient vertically integrated logistics ecosystem – spanning shipping, ports, freezones, freight, express, and supply chain services – which allows us to offer end-to-end solutions, capture more value per transaction, and optimise costs across the value chain.

Furthermore, our commercial strategies prioritised profitable corridors and high-yield customer segments – particularly in regional freight forwarding, maritime charters, and freezone logistics. We also deepened strategic partnerships and pursued international expansion in GCC, EU and APAC lanes. On cost optimisation, we have embedded robust cost control measures, renegotiated key contracts, and optimised our asset base. This was paired with rigorous financial governance and data-driven decision-making at group level, improving margins across most subsidiaries. The year 2024 also marked a milestone in optimising our capital structure, with a successful monetisation of non-core assets and financing activities aligned with green and sustainable frameworks. This strengthened our balance sheet while funding new growth.

Ultimately, our performance is not just about numbers, it’s about building a globally competitive Omani logistics champion. We remain focused on innovation, strategic investments, and human capital development to sustain this momentum.

Earlier this year, Asyad successfully floated a 20% IPO of its shipping unit. Are there plans for more IPOs to list other units on the Muscat Stock Exchange in coming years?

The successful IPO of Asyad Shipping Company demonstrated market confidence in Asyad and broadened our investor base. Any future IPO will be assessed on timing, value creation and in line with our strategic objectives.

What core message would you like international investors and partners to take from Asyad’s global logistics reach and expansion story?

We offer integrated, scalable, end-to-end logistics solutions, anchored in a strategically located country committed to diversification and sustainability. Our combination of assets, digital capabilities, financial discipline, and SDG-aligned investment pipeline provides reliable long-term growth opportunities and positions Oman as a resilient gateway for global trade.

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