Mobile Virtual Network

Operator
- doesnt own a network nor
have a radio spectrum license
- buys wholesale network
capacity from a network
operator
- makes, however, significant
investments to network
infrastructure to obtain better
control on services offered
Mobile Network Operator
- owns and runs a network
- own radio spectrum license
- acts both network and service
operator

Content

Mobile portal

Network

News
Travel info
Games
Smart phone apps.
Sports

Mobile operators
wap site, e.g.
wap.sonera.net

GPRS, PDC,
CDMA, UMTS

Content
provider

Content
aggregator

Mobile
virtual
network
enabler

Service
operator

Network
operator

Customers

Supp. infrastr.

Services

Terminal

Provides network
access services to many
service operators
Technical infrastructure
for billing etc.

Voice, data and VAS

services
Own technical infrastructure
to certain extent
M-commerce

Operator branded
phones
Non-operator branded
phones

Deregulation opens the mobile markets to competition

No need for own spectrum licenses or radio networks
Regulator-controlled interconnection prices

The focus in revenues is expected to shift from basic

services to more content-based value-added services
Convergence, evolution towards IP over everything
New entrants may have excellence in content-creation
Also increasing shift from voice to data services

 ITU: MVNO = an operator that offers mobile services but does

not own its own radio frequency
Different categorizations exist, mostly technology-based

Network
operator

Service
Provider

Marketing
Distribution
Customer Care
Tariffing / Billing
Network Services
Switching / Routing capabilities
Radio Access Network

Enhanced
Service
Provider

Mobile
Virtual
Network
Operator

 MNOs have their roots in the fixed line business

leverage on the existing network and ownership of spectrum licenses

MVNOs can emerge from a plethora of industries

leverage on strong brands and extensive distribution networks
Fixed
Network
Operators
Financial
Institutions

Media
Companies

MVNOs
Automotive

Retailers
Consumer
Electronics

capacity

network
operator

virtual
service
operator

virtual
service
operator

virtual
service
operator
virtual
service
operator

virtual
service
operator

services

Target Market
Business Module , expectations and overview

Executive Summary

THREE DIMENSIONS OF COMPETITIVENESS

Product Excellence and VAS

Competitive edge based on cost (and price
competition) is not sustainable in the long
term. Product leadership is short-lived, too.
Technology moves fast and even products
that are not overtaken are easily replicated.
Customer centricity is about long-term
relationships, by building new Generation
loyalty to Youth.
It also results in added competitiveness in the
other two dimensions

Operational Efficiency

Customer Intimacy

WHERE TO START

Number of Customers

Picket Fence

Mass Marketing

CRM

Highest Value
Customers

Customer Value

DIFFERENT CUSTOMERS BY VALUE

Most Valuable Customers: Retain

Most Growable Customers: Grow

Marginal customers: Business as

usual?

Below Zero Customers:

Dismiss, or?

Service costs
Customer value segments
Actual value

Source: Peppers & Rogers Group

Strategic value (potential share of customer)

WHY NEEDS?

Customer :
About 4.5 million Male youth
About 5.2 Million Female youth
Around 6.1 Students
37,000 Schools
24 Universities
Customers have specific needs that have to be satisfied.

Youth Network only exists to satisfy specific needs.

WHO THEY ARE

Demographic profiles: Students, youth and their
families

Geo-demographic: Kingdom Wise

Psycho-demographic: Clubs, Schools, Universities,

Colleges, TVTC ...etc

WHAT DO THEY DO

Transaction (purchasing) behaviour: Pre-Paid and Post-Paid.

Motivation-based behaviour: Value added services and

price.

Lifestyles: Often mixed with demographics, indicate needs

through preferences manifested in everyday behaviour .

SEGMENT MANAGEMENT
Programs
Business goals:
Keep customers

Acquisition
Segment 1

Retention
Development

Get customers

Segment 2

Acquisition
Retention
Development

Grow customers
Overall objectives
translate to different
priorities in each

Acquisition
Segment 3

Retention

Development

RESOURCE OPTIMIZATION

Allocating communication
channels according to the
value of segments

Most valuable customers

Most growable customers

Marginal
Media

Unprofitable

E-channels
Direct mail

Telemarketer
In-person service reps
Dedicated service
reps
Source: Peppers & Rogers Group

MOHE

DAM

MOE

JED
KSU
Imam
PNU

RHD

DAM

JED

RHD

on-net SAR 90

MOE
All
MOE
School
CUG
SAR 60

Schools
CUG
SAR 30

DAM

JED

RHD

All Dammam
Schools CUG
SAR 45

Youth is well positioned in Saudi as the only Telco Operator one hundred percent
dedicated to the Knowledge market
Youth is leader in offering convergent solutions (Content, IP Communications, IM, CUG,
VAS...etc)
Youth already have a portal solutions support the users learning, teaching, testing and
sharing knowledge with others (Students market) and (YouthMarket)
Many of our customers are asking for a full outsourcing of their telco services (including
mobile services)

There is a strong opportunity for operator-ITCL to become the first

Telco Operator in Saudi , fully dedicated learning and knowledge
market, with an integrated offer, both Mobile and Portal, and with
innovative and competitive convergent solutions

30/02/2012 30/03/2012

Processes and
Systems
Developments

Processes
design

User
requirements

Network
Developments

Vendor
Selection

Q3 2012

30/06/2012

Feasibility
study

Hardware
procurement

Implementation

Installation and test

Solution Design

Go-tomarket Plan

Product
Plan

Sales plan

Communicati
on
Plan

People
Employees

Suppliers

Customers

Devices

Partners

Applications

PDA

Email
LOB Apps
PC

Enterprise

Laptop

Managed Messagging
E- content
Internet Data Center
MobileXpress
Corporate Fusion
Lan Management
Youth Mail Voice VIP
eMail
.
Mobile Services

Telephone

Personal

PBX/Centrex

Database

Web Server

Infrastructure

A convergent and integrated

approach for every Learnning
Communications need

9,754

103,125

90.5

1,095,629

173,644

1,269,273

86.3

1,038,423

162,167

1,200,590

86.5

561,502

72,516

634,018

88.6

487,806

67,074

554,880

87.9

511,002

56,023

567,025

90.1

438,655

52,834

491,489

89.3

17,502

901

18,403

95.1

7,935

221

8,156

97.3

17,088

4,682

21,770

78.5

65,274

14,493

79,767

81.8

2,202,723

307,766

2,510,489

87.7

2,131,464

306,543

2,438,007

87.4

4,334,187

614,309

4,948,496

87.6

93,371

66861

1827

111336 68688

660

%93.35 180684 2487 178197 111996

3132

766

3898

3352

656

4008

6484

1422

7906

%4.08

4258

4258

717

717

4975

4975

%2.57

74251

2593

%100 193565 3909 189656 116721 1316 115405 76844

Product :

My school

Arabic
Brand
Name

Education

The Best

M3a.com

Cellular voice services with SMS and MMS

Concentration on Data at first stages

Features :

Brand Name

Concentrate on nationals as well as expats

Copy successful market models with
modifications to make it very attractive to
subscribers

Brand :

Arabic Designation with more

concentration on Saudi preferred names
which can be acceptable to residents also

General features of our product

Target Segment

Students and teachers using

both prepaid and postpaid
services to communicate within
the school for free
Students and teachers using
both prepaid and postpaid
services to communicate within
all schools for free
High income customers who are
willing to use more in case of
low prices , may include
unlimited services within the
same operator with lower cost
for other operators
Add the student and teachers
families to the same group

Brand Proposals
25

Collaboration
PC
Messaging,
(email, IM, UM)

PDA

Blackberry

Whatever
youre using

Whatever
youre doing

Mobile
Phone

Contact
Center, IVR

Audio
Conferencing

Wherever you are

At your Desk

In the Air

E-class

On the Road
At Home

Manager Office

Finance OnDemand Based on the new concept of self

operation schools with SAR 200K/school budget, every
school needs financial system on demand
Printing OnDemand for the student result reports,
documents, Business cards and some of the
certificates
HR OnDemand to manage the attendance and the
vacations etc
Purchasing OnDemand to manage the needed orders
Free website hosting and design
Free email for all teachers and students
Free access to Youth.org website for extra education
resources

Planning

KPI

HR

Purchasing
Reporting

Finance

Report Cards

NotePad

Certificates

Business Cards

Web Design

Domain
Management

Domain
Registrar

e-mail for every teacher

e-mail for every student
e-mail for every school employee

School

Email for every student in the school even if he is

not subscriber
Chat rooms per class and level and school
Free access to the preferred teachers class rooms at
Youth.Org
Free online support classes per subject
Loyalty card manage his earned points and
discounts in Games, Bookshops and sport shops
Online Knowledge games and competition
Qiyas, Qdraat , Tahseely, Mawhobeen ACT and SAT
Test preparation and practice applications

Free access to the Report Card

Multi Language translation online software
Black Board application
Free hosting for the Student Personal websites
Domain reservation for the Students and free basic
design
Special Ringtone, Logos and SMS content per age
and level and may be per school.

Our Target Market

Business Module , expectations and overview

Executive Summary

34

ARPU

Almost $12/
User taking in
consideration
that
Operators are
calculating
ARPU based
on total
number of
subs which
includes also
inactive
subscribers

Postpaid
ARPU is $ 15
and Prepaid
is $ 6

Competition

level of
penetration
in the Saudi
Telecom
market is
near 180%
and high
competition
is taking
place

MNOs
might seek
other
dimensions
of
competition
in the
cellular
market

Prepaid
Market

Almost 85% of
the current
cellular market
is from prepaid
users which is
the targeted
market of any
MVNO business

Network
Capacity
Still Zain is
not
utilizing
40% of their
Network
Capacity ,
in addition
STC is still
having high
level of
unutilized
capacity

Mobily is
expanding their
market share
and they are
utilizing their
capacity
however they
can sell part of
their capacity
based on the
competition
level in the
market.

Interconnection
prices Cost +
0%-5% Markup
+ discounts as
promoted by
the operator

Revenue
Sharing % on
Net revenue

10% - 30%

Strong Powerful Legal

agreement to support
MVNO against any
third party liabilities (
MNOs and regulator)

Good MVNO business Model in Saudi Arabia

Product:

Promotion:

Place:

Price:

Cellular Services
Voice services
SMS services
Arabic Brand Name
acceptable to Saudi
Community

Kingdom wise
Zain Show rooms and
Dealers sales

TV advertisements
Newspaper (Low
profile and High profile)
Others

competitive price
advantage over
competitors in the
postpaid and prepaid
business market
price discrimination
based on target market

Our Target Market

Business Module , expectations and overview

Executive Summary

38

2012

2013

2014

2015

2016

Month New Sub's Month New Sub's Month New Sub's Month New Sub's Month New Sub's
Jan

800

Jan

46,684

Jan

58,626

Jan

65,735

Jan

63,452

Feb

1,280

Feb

47,618

Feb

59,213

Feb

66,063

Feb

62,183

Mar

1,830

Mar

48,570

Mar

59,805

Mar

66,394

Mar

60,940

Apr

2,617

Apr

49,542

Apr

60,403

Apr

66,726

Apr

59,721

May

3,743

May

50,533

May

61,007

May

67,059

May

58,526

Jun

5,352

Jun

51,543

Jun

61,617

Jun

66,724

Jun

57,356

Jul

7,654

Jul

52,574

Jul

62,233

Jul

66,390

Jul

56,209

Aug

10,945

Aug

53,626

Aug

62,856

Aug

66,058

Aug

55,084

Sep

15,652

Sep

54,698

Sep

63,484

Sep

65,728

Sep

53,983

Oct

22,382

Oct

55,792

Oct

64,119

Oct

65,400

Oct

52,903

Nov

32,006

Nov

56,908

Nov

64,760

Nov

65,073

Nov

51,845

64,747
Dec
792,097 Total

50,808
683,010

Dec
Total

45,769
Dec
150,031 Total

58,046
Dec
626,134 Total

Total Customer Accusation

65,408
Dec
743,530 Total

2,994,803

2012

2013

Month Churn Month

Churn

2014
Month

Churn

2015
Month

Churn

2016
Month

Churn

Jan

Jan

3151

Jan

14701

Jan

25812

Jan

35221

Feb

18

Feb

4,108

Feb

15,667

Feb

26,690

Feb

35,842

Mar

45

Mar

5,066

Mar

16,625

Mar

27,556

Mar

36,422

Apr

85

Apr

6,023

Apr

17,575

Apr

28,411

Apr

36,961

May

140

May

6,980

May

18,518

May

29,254

May

37,462

Jun

220

Jun

7,938

Jun

19,452

Jun

30,085

Jun

37,925

Jul

333

Jul

8,898

Jul

20,380

Jul

30,891

Jul

38,353

Aug

494

Aug

9,858

Aug

21,301

Aug

31,672

Aug

38,746

Sep

724

Sep

10,821

Sep

22,215

Sep

32,429

Sep

39,105

Oct

1,052

Oct

11,787

Oct

23,123

Oct

33,161

Oct

39,432

Nov

1,521

Nov

12,755

Nov

24,025

Nov

33,871

Nov

39,729

Dec

2,192

Dec

13,726

Dec

24,921

Dec

34,557

Dec

39,995

Total

6,822 Total 101,110 Total 238,504 Total 364,389 Total 455,194

Total Churn

1,166,020

2012
Month

2013

End No. Sub's

Month

2014

End No. Sub's

Month

2015

End No. Sub's

Month

End No. Sub's

2016
Month

End No. Sub's

Jan

800

Jan

186,743

Jan

712,158

Jan

1,213,182

Jan

1,629,198

Feb

2,062

Feb

230,252

Feb

755,703

Feb

1,252,555

Feb

1,655,539

Mar

3,847

Mar

273,757

Mar

798,882

Mar

1,291,393

Mar

1,680,056

Apr

6,380

Apr

317,276

Apr

841,710

Apr

1,329,708

Apr

1,702,816

May

9,983

May

360,829

May

884,199

May

1,367,514

May

1,723,880

Jun

15,116

Jun

404,434

Jun

926,364

Jun

1,404,152

Jun

1,743,311

Jul

22,437

Jul

448,110

Jul

968,217

Jul

1,439,652

Jul

1,761,167

Aug

32,889

Aug

491,877

Aug

1,009,772

Aug

1,474,038

Aug

1,777,505

Sep

47,817

Sep

535,754

Sep

1,051,041

Sep

1,507,337

Sep

1,792,383

Oct

69,147

Oct

579,759

Oct

1,092,037

Oct

1,539,575

Oct

1,805,854

Nov

99,632

Nov

623,913

Nov

1,132,772

Nov

1,570,777

Nov

1,817,970

Dec

143,209

Dec

668,232

Dec

1,173,259

Dec

1,600,967

Dec

1,828,783

Total

Total

Total

Ends Sub By end of 2016

Total

1,828,783

Total

Ending Subs '000 vs. Revenues 'Mn

1500
600

Revenues

Ending Subs

1500
600

1250
500

1250
500

1000
400

1000
400

750300

300750

500200

200500

250100

100250

000 0

0 000

Expected number of subs will reach to 1,800K by end of 2016 with

expected total revenue of SR 1,300M

42

2012
Month

New Sub's

End No. Sub's

ARPU

Revenue

ITCL/MVNO

ITCL/Reseller

Churn

Jan

800

800 SAR 45.00

SAR 36,000.00

SAR 10,800.00

SAR 3,600.00

Feb

1,280

2,062 SAR 45.00

SAR 92,808.00

SAR 27,842.40

SAR 9,280.80

17.60

Mar

1,830

3,847 SAR 45.00

SAR 173,134.22

SAR 51,940.27

SAR 17,313.42

45.37

Apr

2,617

6,380 SAR 45.00

SAR 287,111.51

SAR 86,133.45

SAR 28,711.15

84.64

May

3,743

9,983 SAR 45.00

SAR 449,229.38

SAR 134,768.81

SAR 44,922.94

140.37

Jun

5,352

15,116 SAR 45.00

SAR 680,207.42

SAR 204,062.23

SAR 68,020.74

219.62

Jul

7,654

22,437 SAR 45.00

SAR 1,009,674.20

SAR 302,902.26

SAR 100,967.42

332.55

Aug

10,945

32,889 SAR 45.00

SAR 1,479,998.20

SAR 443,999.46

SAR 147,999.82

493.62

Sep

15,652

47,817 SAR 45.00

SAR 2,151,765.90

SAR 645,529.77

SAR 215,176.59

723.55

Oct

22,382

69,147 SAR 45.00

SAR 3,111,615.61

SAR 933,484.68

SAR 311,161.56

1,051.97

Nov

32,006

99,632 SAR 45.00

SAR 4,483,439.70

SAR 1,345,031.91

SAR 448,343.97

1,521.23

Dec

45,769

143,209 SAR 45.00

SAR 6,444,403.91

SAR 1,933,321.17

SAR 644,440.39

2,191.90

SAR 20,399,388.04

SAR 6,119,816.41

SAR 2,039,938.80

6,822

Total

150,031

2013
Month

New Sub's

End No. Sub's

ARPU

Revenue

ITCL/MVNO

ITCL/Reseller

Churn

Jan

46,684

186,743

37.5

7,002,849.08

SAR 2,100,854.72

SAR 700,284.91

3151

Feb

47,618

230,252

37.5

8,634,459.50

SAR 2,590,337.85

SAR 863,445.95

4,108

Mar

48,570

273,757

37.5

10,265,887.95

SAR 3,079,766.38

SAR 1,026,588.79

5,066

Apr

49,542

317,276

37.5

11,897,852.71

SAR 3,569,355.81

SAR 1,189,785.27

6,023

May

50,533

360,829

37.5

13,531,070.52

SAR 4,059,321.16

SAR 1,353,107.05

6,980

Jun

51,543

404,434

37.5

15,166,256.96

SAR 4,549,877.09

SAR 1,516,625.70

7,938

Jul

52,574

448,110

37.5

16,804,126.69

SAR 5,041,238.01

SAR 1,680,412.67

8,898

Aug

53,626

491,877

37.5

18,445,393.84

SAR 5,533,618.15

SAR 1,844,539.38

9,858

Sep

54,698

535,754

37.5

20,090,772.27

SAR 6,027,231.68

SAR 2,009,077.23

10,821

Oct

55,792

579,759

37.5

21,740,975.91

SAR 6,522,292.77

SAR 2,174,097.59

11,787

Nov

56,908

623,913

37.5

23,396,719.09

SAR 7,019,015.73

SAR 2,339,671.91

12,755

Dec

58,046

668,232

37.5

25,058,716.81

SAR 7,517,615.04

SAR 2,505,871.68

13,726

SAR 192,035,081.33

SAR 57,610,524.40

SAR 19,203,508.13

101,110

Total

626,134

2014
Month

New Sub's End No. Sub's

ARPU

Revenue

ITCL/MVNO

ITCL/Reseller

Churn

Jan

58,626

712,158 SAR 33.75

SAR 24,035,326.05

SAR 7,210,597.82

SAR 2,403,532.61

14701

Feb

59,213

755,703 SAR 33.75

SAR 25,504,978.83

SAR 7,651,493.65

SAR 2,550,497.88

15,667

Mar

59,805

798,882 SAR 33.75

SAR 26,962,283.55

SAR 8,088,685.07

SAR 2,696,228.36

16,625

Apr

60,403

841,710 SAR 33.75

SAR 28,407,711.71

SAR 8,522,313.51

SAR 2,840,771.17

17,575

May

61,007

884,199 SAR 33.75

SAR 29,841,726.43

SAR 8,952,517.93

SAR 2,984,172.64

18,518

Jun

61,617

926,364 SAR 33.75

SAR 31,264,782.67

SAR 9,379,434.80

SAR 3,126,478.27

19,452

Jul

62,233

968,217 SAR 33.75

SAR 32,677,327.41

SAR 9,803,198.22

SAR 3,267,732.74

20,380

Aug

62,856

1,009,772 SAR 33.75

SAR 34,079,799.87

SAR 10,223,939.96

SAR 3,407,979.99

21,301

Sep

63,484

1,051,041 SAR 33.75

SAR 35,472,631.68

SAR 10,641,789.50

SAR 3,547,263.17

22,215

Oct

64,119

1,092,037 SAR 33.75

SAR 36,856,247.05

SAR 11,056,874.12

SAR 3,685,624.71

23,123

Nov

64,760

1,132,772 SAR 33.75

SAR 38,231,063.03

SAR 11,469,318.91

SAR 3,823,106.30

24,025

Dec

65,408

1,173,259 SAR 33.75

SAR 39,597,489.58

SAR 11,879,246.87

SAR 3,959,748.96

24,921

SAR 382,931,367.86

SAR 114,879,410.36

SAR 38,293,136.79

238,504

Total

743,530

2015

Month

New Sub's End No. Sub's

ARPU

Revenue

ITCL/MVNO

ITCL/Reseller

Churn

Jan

65,735

1,213,182 SAR 30.00

SAR 36,395,459.82

SAR 10,918,637.95

SAR 3,639,545.98

25812

Feb

66,063

1,252,555 SAR 30.00

SAR 37,576,662.13

SAR 11,272,998.64

SAR 3,757,666.21

26,690

Mar

66,394

1,291,393 SAR 30.00

SAR 38,741,787.50

SAR 11,622,536.25

SAR 3,874,178.75

27,556

Apr

66,726

1,329,708 SAR 30.00

SAR 39,891,239.17

SAR 11,967,371.75

SAR 3,989,123.92

28,411

May

67,059

1,367,514 SAR 30.00

SAR 41,025,411.76

SAR 12,307,623.53

SAR 4,102,541.18

29,254

Jun

66,724

1,404,152 SAR 30.00

SAR 42,124,573.66

SAR 12,637,372.10

SAR 4,212,457.37

30,085

Jul

66,390

1,439,652 SAR 30.00

SAR 43,189,545.38

SAR 12,956,863.62

SAR 4,318,954.54

30,891

Aug

66,058

1,474,038 SAR 30.00

SAR 44,221,129.17

SAR 13,266,338.75

SAR 4,422,112.92

31,672

Sep

65,728

1,507,337 SAR 30.00

SAR 45,220,109.35

SAR 13,566,032.80

SAR 4,522,010.93

32,429

Oct

65,400

1,539,575 SAR 30.00

SAR 46,187,252.73

SAR 13,856,175.82

SAR 4,618,725.27

33,161

Nov

65,073

1,570,777 SAR 30.00

SAR 47,123,309.04

SAR 14,136,992.71

SAR 4,712,330.90

33,871

Dec

64,747

1,600,967 SAR 30.00

SAR 48,029,011.22

SAR 14,408,703.37

SAR 4,802,901.12

34,557

SAR 509,725,490.94

SAR 152,917,647.28

SAR 50,972,549.09

364,389

Total

792,097

2016
Month

New Sub's

End No. Sub's

ARPU

Revenue

ITCL/MVNO

ITCL/Reseller

Churn

Jan

63,452

1,629,198

SAR 30.00

SAR 48,875,939.66

SAR 14,662,781.90

SAR 4,887,593.97

35221

Feb

62,183

1,655,539

SAR 30.00

SAR 49,666,164.34

SAR 14,899,849.30

SAR 4,966,616.43

35,842

Mar

60,940

1,680,056

SAR 30.00

SAR 50,401,694.16

SAR 15,120,508.25

SAR 5,040,169.42

36,422

Apr

59,721

1,702,816

SAR 30.00

SAR 51,084,478.63

SAR 15,325,343.59

SAR 5,108,447.86

36,961

May

58,526

1,723,880

SAR 30.00

SAR 51,716,409.40

SAR 15,514,922.82

SAR 5,171,640.94

37,462

Jun

57,356

1,743,311

SAR 30.00

SAR 52,299,321.90

SAR 15,689,796.57

SAR 5,229,932.19

37,925

Jul

56,209

1,761,167

SAR 30.00

SAR 52,834,996.87

SAR 15,850,499.06

SAR 5,283,499.69

38,353

Aug

55,084

1,777,505

SAR 30.00

SAR 53,325,161.78

SAR 15,997,548.53

SAR 5,332,516.18

38,746

Sep

53,983

1,792,383

SAR 30.00

SAR 53,771,492.36

SAR 16,131,447.71

SAR 5,377,149.24

39,105

Oct

52,903

1,805,854

SAR 30.00

SAR 54,175,614.00

SAR 16,252,684.20

SAR 5,417,561.40

39,432

Nov

51,845

1,817,970

SAR 30.00

SAR 54,539,103.06

SAR 16,361,730.92

SAR 5,453,910.31

39,729

Dec

50,808

1,828,783

SAR 30.00

SAR 54,863,488.32

SAR 16,459,046.49

SAR 5,486,348.83

39,995

SAR 627,553,864.47

SAR 188,266,159.34

SAR 62,755,386.45

455,194

Total

683,010

5 years

Average
Annually

Total of the customer

Accusation

2,994,803

598,961

Total Of ends Sub By 2016

1,828,783

365,757

Total revenue
Total revenue for ITCL MVNO

SAR 1,732,645,192.65 SAR 346,529,038.53

SAR 519,793,557.79 SAR 103,958,711.56