00:15Motor Vessel Mali, this is Worship 112. We will be escorting you to your next quarter call. Thank you for
00:21your cooperation. This is Worship 112 saying bye on count 16.
00:40We had orders for another 65 to 75 days and the price realization is good and hopefully we will be
00:55receiving this kind of order in near future also.
00:57So our exports is almost 50% exports and the rest 50% we are catering to our domestic market.
01:05At the same time, China route was open, Cape of Good Hope route was open and a lot of other
01:14economies were open.
01:15So regarding exports, there were not a problem for spinning industry especially. So being the spinners, whatever crisis has happened,
01:25it didn't stop our exports directly.
01:40So as we are talking, the Strait of Ormus is basically closed, right?
01:46And the price of oil went up, then went down a bit. It just basically means a lot of uncertainty.
01:52It might impact us. We've been talking about it with our customers when it comes to the cost of plastic
01:59and other derivatives of oil.
02:02And it also impacts customers, especially in Europe, because a lot of the air cargo capacity has been reduced because
02:12all the Middle East airlines are basically on hold, right?
02:17So the way we are planning now is that we cannot be a single country manufacturer, right?
02:24We need to have at least one manufacturing site out of China.
02:29For us, the main solution, let's say, is India, right?
02:33Where we have a company there, we have a manufacturing site there, we have a team there.
02:37Where we can transfer projects that are at a certain level of maturity, let's say, to India.
02:45Another plan that we have developed is actually to subcontract in an existing manufacturing company in Malaysia.
02:53We are changing the world from a free trade system somehow to a multi-tariff situation where having tariff is
03:02not only about 5%, 7% something,
03:05but more like 10%, 50%, 100% as it fits their business.
03:11So this is the trend we are going there.
03:14However, on our side, we see China as the trend that built China for electronic products is just incredible.
03:22For a typical example is the capability to develop electronic components, which was very weak before,
03:29but now they start to have very strong electronic industries.
03:34Microelectronics, so developing chips, which is very future-proof.
03:39Actually, I started in January saying that, okay, this might be a good year.
03:42And then Iran World started and makes things unstable and business don't lack instability.
03:47I have not very high expectations on this.
03:52I'm seeing more and more is coming.
03:53And Trump coming in China is not a good sign, actually.
03:56I don't think this is a good sign.
03:57I think it's just want to make things worse.
04:00So we will see.
04:01But we learn to work with that.
04:18What we want to make things worse.
04:18This is where we are.
04:18Let's start.
04:18Let's start.
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