Directors Report :    English / Arabic

Unaudited Consolidated Balance Sheet:
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Unaudited Profit and Loss Account : 
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Unaudited Consolidated Cash Flow Statement: 
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Statement of change in Equity:
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Notes  : English / Arabic

Published Accounts: English / Arabic

	Interim Report for 3 months ended 31st July 2008.
	Notes.
1	Inventories.
	Inventories can be analysed as follows:
		31st Jul	31st Jul
		2008	2007
		Ro. ' 000	Ro. ' 000
	Raw materials	659	622
	Standing Crops/Beef herds	355	335
	Finished goods	38	61
	Spares and consumables	234	229
	Less: Provision	-65	-65
		1221	1182
	Finished goods at 31.7.2008 represent 2 days of sales (2007: 4 days)
2	Trade Receivables
	At 31st July 2008 trade receivables can be analysed as follows:
		31st Jul	31st Jul
		2008	2007
		Ro. ' 000	Ro. ' 000
	Trade receivables	802	660
	Less: Provisions	-40	-40
		762	620
3	Segment Reporting
	The Company operates in one business segment of Agriculture and Livestock development.
	All relevant information relating to primary segment is disclosed.

Page No. 6

	Interim Report for 3 months ended 31st July 2008.
	Notes
4	Bank loans and overdrafts
	These can be analysed as follows:
		31st Jul	31st Jul
		2008	2007
		Ro. ' 000	Ro. ' 000
	Bank loans	1,737	1,014
	Overdrafts	571	374
		2,308	1,388
	Less: Current maturities of bank	-1,371	-774
	loans and bank overdrafts.
	Long term element of bank loans	937	614
	The Bank loans bear interest at rates ranging between 4.25% to 7.03% per annum.
	The Bank overdraft facilities bear interest at rates between 6.5% to 7.5.%.
	per annum and are renewable on December 2008..
	Bank loans are repayble within as detailed below:
	The maturity of the bank loans:
		31st Jul	31st Jul
		2008	2007
		Ro. ' 000	Ro. ' 000
	Due within 1 year	1,371	774
	Due after more than 1 year	937	614
		2,308	1,388

Page No. 7

	Interim Report for 3 months ended 31st July 2008.
	Notes
5	Investment in associates and subsidiaries.
	Associates (See also Note 7 )
	Investments in Associates are accounted for using the equity method.
	The Associates of Services/Manufacturing Company Saog are as follows:
		31st July 2008.			31st July 2007.
	Company		Holding	Company		Holding
	-		-	-		-
	Subsidiaries ( See also Note 7)

Page No. 8

	Interim Report for 3 months ended 31st July 2008.
	Notes
6	Investments
	Investments include all long term and short term investments of the company, excluding
	only those associates and subsidiaries listed in Note 5. All marketable securities are
	carried at their open market value. Unquoted investments are carried at cost adjusted for
	any permanent diminutions in value.
	Investments can be analysed as follows:
		Market	Market	Book	Book
		Value	Value	Value	Value
		31.07.2008	31.07.2007	31.07.2008	31.07.2007
						Cost**
		Ro. ' 000	Ro. ' 000	Ro. ' 000	Ro. ' 000	Ro. ' 000
	Marketable securities - MSM
	Banking
	Investment
	Insurance
	Services
	Industrial
	Government Bonds
		-	-	-	-	-
	Marketable securities - Foreign by Sector
	Banking
	Industrial
	Bonds
		-	-	-	-	-
	Unquoted and other investments
	Unquoted Omani shares
	Investment fund units*
	Term deposits
	Unquoted foreign shares
	Other
	Total	-	-	-	-	-
	Carried at lower of net asset value, net realisable value or market value.
	Cost of investments held on …………..

Page No. 9

	Interim Report for 3 months ended 31st July 2008.
	Notes
6	Investments (continued)
	Investment income
	Realised
	Realised investment income represents gains and losses on disposal of investments and
	other realised investment related gains and losses.
	Unrealised
	Marketable securities are recorded at their open market value. Movements in the carrying
	values of marketable securities are taken to unrealised investment income.
	Interest
	Interest receivable for term deposits and bonds is included in investment income.
	Investment income can be analysed as follows:
		31st Jul	31st Jul
		2008	2007
		Ro. '000	Ro. '000
	Realised	-	-
	Unrealised	-	-
	Dividends	-	-
	Interest on Term Deposits and Bonds	-	-
		-	-

Page No. 10

	Interim Report for 3 months ended 31st July 2008.
	Notes
7	Details of Significant Investments.
	Details of all the reporting company's investments, including associates and subsidiaries,
	for which either, the reporting company's holding represents 10% or more of the issuer's
	share capital, or , the reporting company's holding exceeds 10% of the market value of
	the reporting company's investment portfolio, are provided as follows as of …………………
				Market	Book	Cost
		Holding	Number of	Value	Value
		%	Securities	Ro. 000's	Ro. 000's	Ro. 000's
	MSM Quoted securities
	Foreign Listed securities
	Market Value as of 31.07.2008.		-		-	-
	MSM Unquoted securities
			-		-	-
	Foreign Unlisted securities
			-		-	-
	Total as of 31.07.2008.		-		-	-
*	Provide the name and location of the issuer, the class of security, and the name of B32
	the market in which the security is listed.

Page No. 11

	Interim Report for 3 months ended 31st July 2008.
	Notes
8	Related Parties and Holders of 10% of the Company's shares.
	Holders of 10% or more of the Company's shares may include companies, individuals, or
	families. Families are included if the shares of the family members total 10% or more of
	the company's shares. Members of the family of an individual are those that may be
	expected to influence, or be influenced by, that person in their dealings with the
	company.
	The nature of significant transactions involving related parties or holders of 10% or more