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MSM 30 6,286.070  -0.09% | 06:21 PM Sep 8, 2010 | Market Close You Are Here:  Home | News | Company News

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Company News  Show All
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Jan 31, 2010   - 12:47 PM

First Mazoon Fund Daily NAV for the month of January 2010
Mutual Fund: THE FIRST MAZOON FUND
Date
NAV (in RO)
03-01-2010
1.183
04-01-2010
1.178
05-01-2010
1.187
06-01-2010
1.189
07-01-2010
1.198
10-01-2010
1.201
11-01-2010
1.199
12-01-2010
1.196
13-01-2010
1.190
14-01-2010
1.188
17-01-2010
1.187
18-01-2010
1.184
19-01-2010
1.182
20-01-2010
1.179
21-01-2010
1.175
24-01-2010
1.165
25-01-2010
1.172
26-01-2010
1.168
27-01-2010
1.172
28-01-2010
1.171
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Jan 31, 2010   - 12:38 PM

Initial Unaudited Financial Result of 2009
Company: DHOFAR FISHERIES IND.
DHOFAR FISHERIES INDUSTRIES COMPANY S.A.O.G.
 
Initial Unaudited Financial Results for the year ended on 31st December 2009
 
 
 
2009
2008
 
RO'000
RO'000
 
 
 
Turn over/Revenue
                565
           1,919
 
 
 
Gross profit/ (Loss)
               (552)
             (241)
Depreciation
               (628)
             (628)
Administration & general expenses
               (405)
             (500)
 
 
 
Operating Profit / (Loss)
            (1,585)
             (1,369)
Other Income
                 18
                 19
Finance Charges
               (285)
             (513)
Income/(Loss) from Investment available for sale
                  -  
                -  
Interest income
                  -  
                -  
 
 
 
Profit/(Loss) before taxation and minority interests
            (1,852)
          (1,863)
 
 
 
Less: Loss till 30th June 2009 transferred to Oman Emirates Investment Holding Company SAOG
1,059               
 
-
 
Profit/(Loss) before taxation
 
                  (793)
 
(1,863)
 
 
 
Notes:
 
1. The above results represent initial & unaudited Financials and are subject to audit, review and approval of:
(a) Audit Committee
            (b) Board of Directors
            (c) External Auditors
            (d) Shareholders of DFICO
 
2. The comparative figures of 2008 are extracts from the audited financial statements.
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Jan 31, 2010   - 11:57 AM

Investment Stabilization Fund’s NAV
Mutual Fund: INVESTMENT STABILIZATION FUND
National Bank of Oman , the Custodian and Administrator  of the Investment Stabilization Fund , would like to announce the Net Asset Value (NAV)  of the Fund  as follows:
Date                         NAV  per unit (RO)
28-Jan-2010                 1.209
( The above NAV is provisional & unaudited)
 
 
Contact:
Investment Banking Operations,
Tel:+968 2477 8610,
Fax:+968 2477 8993,
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Jan 31, 2010   - 10:35 AM

ABI Unaudited financials 31/12/09
the Board of Director's at the board meeeting held on 26th January 2010 reviewed and approved
unaudited financials of ABI of year ended 31/12/2009
 
FOR THE YEAR ENDED 31/12/2009
 
DIRECTORS’ REPORT
 
On behalf of the board members I wish to present the financial results of the company for the year ended 2009. The year ended registered sales of RO. 816,679/- as compared to RO. 360,010/- for the same period last year.
 
The Profit for the year ended 31/12/2009 was RO. 28,721/- as compared to profit of RO. 26,624/- for the same period last year.
 
Unaudited Balance Sheet at 31/12/2009
 
Description
Group 2009 RO'000
Parent Co 2009 RO'000
Parent Co 2009 RO'000
Total Assets
1673.6
1167.5
738.2
Total Liabilities
287
93.2
567.2
Net Assets
1386.6
1074.3
171
 
Unaudited Profit and Loss account
for the year ended 31/12/2009
 
Description
 
Group 2009
RO'000
Parent Co 2009 RO'000
Parent Co 2009 RO'000
Turnover/Revenue
816.7
243
360
Gross Profit/(Loss)
371.2
48.3
95.8
Operating Profit/(Loss)
21.1
-174.2
-7.2
Profit/(Loss) before taxation
28.7
-168.9
26.6
Profit/(Loss) after taxation
28.7
-168.9
26.6
 
 
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Jan 31, 2010   - 09:54 AM

MAJOR DECISIONS OF THE DIRECTOR BOARD MEETING
Company: NATIONAL PACKAGING FACTORY
Major Decisions of the Director Board Meeting of National Packaging Factory SAOG held on 28th Jan, 2010
 
 
1.     Board has approved the Un-Audited Financial Statement for the year ended 31 st Dec, 2009 with net profit (after Taxation) of R.O.215,010/- subject to the approval of AGM which will be held on 28 th March 2010
 
2.     Board has proposed 50% cash dividend for the year 2009 subject to the approval of AGM which will be held on 28th March 2010
 
3.     Board has accepted the resignation of Mr. Ahmed Saeed Suhail Kashoob, a member of Board of Directors.
 
 
 
                                                       Ahmed Saeed Ahmed Al Mashakhi
                                                                               Board Secretary
 
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Jan 31, 2010   - 09:16 AM

“Initial Un-Audited Financial Results” For the year ended 31st December 2009
Company: FLEXIBLE IND. PACKAGES
        Flexible Industrial Packages Company SAOG
              PO Box 60, Rusayl, Postal Code 124, Plot 225/226, Road No. 21
                          Rusayl Industrial Estate, Sultanate of Oman
 
 
 
 
In compliance with Article (3) of the Disclosure Rules issued by CMA, the management of
                Flexible Industrial Packages Company SAOG, is pleased to disclose the,
                             
 
                                     “Initial Un-Audited Financial Results”
                                    For the year ended 31st December 2009
 
                                                            Amount in RO (000s)

Particulars
Year ended
Year ended
 
31 st December 2009
31 st December 2008
Total Sales & Revenues
3,853
3,458
Total Expenditure
3,656
3,386
Net Profit After Deduction of Tax
  197
    72

 
 
 
Notes:
(1) Above results represents Initial & Un-Audited financials and are subject to approval of:
• Audit Committee
• Board of Directors
• External Auditors
• Shareholders of Flexible Industrial Packages Co (SAOG)
 
(2) The comparative figures of 2008 are extracts from the audited financial statements.
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Jan 31, 2010   - 09:10 AM

Initial and un-audited results - 2009
Company: SOHAR POULTRY
 
 
 
Sohar Poultry Company SAOG
 
 
Initial and Un-audited results as per Article 3 of Chapter two (disclosure of financial statement) for the year ended 31st December 2009.
 
 
                                                                                                RO 000
Description
2009
2008
 
Total Sales or Revenues
 4,204
 5,388
Sales cost
(2,802)
(3,077)
Gross profit
  1,402
 2,311
Total expenses
(2,531)
(2,582)
Net (Loss) / Profit
(1,129)
  (271)
 
 
A number of operational challenges heavily influenced the business in 2009. Therefore we saw a net loss of RO 1.129 Million compared with a net loss of RO 271 Thousand  in 2008. As a result the turnover declined from RO 5.39Million to RO 4.20Million.
 
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Jan 31, 2010   - 09:02 AM

UN AUDITED CONSOLIDATED RESULT 31-12-2009
Company: NATIONAL BEVERAGES
NATIONAL BEVERAGES CO LTD (SAOG)
UN AUDITED CONSOLIDATED RESULT
FOR THE YEAR ENDED 31 DEC 2009
 
 
31-Dec-09
31-Dec-08
RO
RO
Turnover/Revenue
                      -  
                      -  
Cost of Sales
Gross profit
                      -  
                      -  
Depreciation
                (1,084)
                (1,268)
Administration & general expenses
            (120,232)
            (979,325)
Other Income
               28,261
                 8,770
Operating profit
              (93,055)
            (971,823)
Financial charges
                      -  
                      -  
Investment income
                      -  
                      -  
Profit/(loss) before taxation and
minority interests
              (93,055)
            (971,823)
Deferred Taxation
                      -  
                      -  
Net profit/(loss) attributable to
ordinary shareholders
              (93,055)
            (971,823)
  
Notes:
  
The above results represent initial un-audited financials and are subject
to audit, and review and approval of Board of Directors and Shareholders
of National Beverages Co Ltd (SAOG)
  
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Jan 31, 2010   - 08:38 AM

Al AMAL FUND JIA - DAILY NAV
Mutual Fund: FINCORP AL AMAL FUND
03.01.10     1.556 (Provisional and Unaudited)
04.01.10       1.545 (Provisional and Unaudited)
05.01.10       1.558 (Provisional and Unaudited)
06.01.10       1.562 (Provisional and Unaudited)
07.01.10       1.583 (Provisional and Unaudited)
10.01.10       1.591 (Provisional and Unaudited)
11.01.10       1.594 (Provisional and Unaudited)
12.01.10       1.592 (Provisional and Unaudited)
13.01.10       1.583 (Provisional and Unaudited)
14.01.10       1.570 (Provisional and Unaudited)
17.01.10       1.570 (Provisional and Unaudited)
18.01.10       1.558 (Provisional and Unaudited)
19.01.10       1.554(Provisional and Unaudited)
20.01.10       1.541 (Provisional and Unaudited)
21.01.10       1.531 (Provisional and Unaudited)
24.01.10       1.521 (Provisional and Unaudited)
25.01.10       1.531(Provisional and Unaudited)
26.01.10       1.537(Provisional and Unaudited)
27.01.10        1.551(Provisional and Unaudited)
28.01.10       1.545 (Provisional and Unaudited)
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Jan 31, 2010   - 05:29 PM

Annual financial statements of principle as in the Unaudited December 31, 2009.
Company: GULF STONE
Gulf Stone Company S.A.O.G.
 
(R.O)
(Amount in 000)
 
In compliance with Article ( 3 ) of Disclosure Rules issued by CMA by Administrative Decision No. 5/2007, the Management of the Company is leased to disclose Initial Annual Un-audited Financial Results for the year ended 31 December 2009.
 
Particulars
2009
2008
Change%
Total Sales or Revenue
3.853
4.951
(22.2)%
Total Expenses
3.327
4.493
(25.95)%
Profit before Taxation
526
458
14.85
Provision for Taxation
---
16.00
---
Net profit after deduction of Tax
526
474
10.97
 
Note :
·          Comparative figures for year 2008 are extracts from the audited results.
·          The above results are preliminary Initial, and Un-audited and subject to review and approval of Audit Committee, Board of Directors and Statutory auditors.
 
 
Ahmed Mohammad Al Rasbi
Chairman
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Jan 31, 2010   - 04:56 PM

Initial Annual Un-Audited Financial Results 2009
Initial Annual Un-Audited Financial Results 2009
 
In compliance with current regulatory requirements under Article (3) of Disclosure Rules issued by CMA, Al Ahlia Detergent Co. SAOG, is hereby disclosing the Initial Annual Un-Audited Financial Results for the year 2009, to the concerned.
 

 
2009 Initial Un-Audited (RO)
2008 Audited
(RO)
Total Sales & Revenues
      935,542
         1,658,291
Total Expenses
     1,457,775
         3,715,805
Net Profit / (Loss) after Tax
     (522,233)
        (2,057,514)

 
Notes:
Comparatives results for 2008 are extracted from the audited financial statements.
 
Results for the year 2009 are initial and un-Audited in nature and are subject to review. Change and approve of the :
 
Ø      Audit Committee,
Ø      Board of Directors
Ø      External Auditors and
Ø      Shareholders.
 
For Al Ahlia Detergent Co. SAOG
 
 
Board of Directors
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Jan 31, 2010   - 04:40 PM

Vision Emerging GCC Fund NAV as on January 27, 2010.
Mutual Fund: VISION EMERGING GCC FUND
 
Subject: Net Asset Value for Vision Emerging GCC Fund
 
Please find below the provisional Net Asset Value for Vision Emerging GCC Fund:
 
 
As on January 27, 2010
Net Asset Value RO
12,382,452
Issued Units
18,260,695
*Net Asset Value per Unit RO
0.678
YTD performance
-1.45%
 
*Please note that the Fund paid 8% dividend for 2005 & 2006 and 60% bonus shares for 2007.
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Jan 31, 2010   - 04:39 PM

Initial Annual Un-audited Financial Results for the year ended 31st December 2009
Company: NATIONAL BISCUIT INDUSTRIES
National Biscuit Industries Ltd. SAOG and its Subsidiary:
Initial Annual Un-audited Financial Results for the year ended 31st December 2009
In compliance with Article (3) of Disclosure Rules issued by CMA, the management is pleased to disclose the initial Annual Un-audited Financial Results for the year 2009

 
GROUP
PARENT
 
2009
2008
2009
2008
 
RO’000
RO’000
RO’000
RO’000
Sales Revenue
      8,434
      10,319
      8,434
      10,319
Cost of Sales
      7,195
        9,109
      7,322
        9,288
Profit for the year
         172
           158
           95
            20
Profit attributable to the Equity Holders of the Parent  Company
         170
           155
           95
            20

 
1.The comparative for the year 2008, are extracted from the audited results.
2.These results are initial and subject to the review and approval of the Audit Committee, Board of Directors and External auditors.
 
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Jan 31, 2010   - 04:36 PM

Vision Emerging GCC Fund NAV as on January 26, 2010.
Mutual Fund: VISION EMERGING GCC FUND
 
 
Subject: Net Asset Value for Vision Emerging GCC Fund
 
Please find below the provisional Net Asset Value for Vision Emerging GCC Fund:
 
 
As on January 26, 2010
Net Asset Value RO
12,410,169
Issued Units
18,289,847
*Net Asset Value per Unit RO
0.679
YTD performance
-1.31%
 
*Please note that the Fund paid 8% dividend for 2005 & 2006 and 60% bonus shares for 2007.
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Jan 31, 2010   - 02:57 PM

PRELIMINARY SUMMARISED UNAUDITED RESULTS 31/12/2009
Company: OMINVEST
Ominvest
 
PRELIMINARY SUMMARISED UNAUDITED RESULTS
FOR THE GROUP AND PARENT COMPANY
FOR YEAR ENDED 31 DECEMBER 2009
 
 
 
 
In compliance with current regulatory requirements, Oman International Development and Investment Company saog (Ominvest) is pleased to report preliminary summarised unaudited results for the year ended December 31, 2009.
 
 
       Group
     Parent Company
 
2009
2008
2009
2008
 
     - - - - - - - - - - - - - - - RO ’000 - - - - - - - - - - - - - - -
Total income
50,500
41,788
11,785
4,528
Total expenses
(27,800)
(21,410)
(2,100)
(1,341)
Profit for the year
22,700
20,378
9,685
3,187
Profit attributable to:
 
 
 
 
-  Shareholders of Ominvest
11,400
8,341
9,685
3,187
-  Minority interest
11,300
12,037
-
-
 
 
 
 
 
 
 
Please note:
 
a.        Comparatives for 2008 are extracts from the audited results.
 
b.        Group results incorporate the audited results of the banking subsidiary, unaudited results of a subsidiary and associates. These results are subject to subsidiary and associates Board (and in certain cases the regulator’s) approval.
 
c.        Audited Group and Parent Company financial statements will be submitted in compliance with the current regulations.
 
These results are subject to review and approval by Ominvest’s Audit Committee and Board of Directors and the Company’s external statutory auditors.
 
 
 31 January 2010
 
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Jan 30, 2010   - 12:00 AM

UN-AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST DECEMBER, 2009
Company: ABRASIVES MANUFACTURING
2009 2008
Total Sales and revenues    174,254    329,746
Total Costs  (363,291) (424,274)
Net Profit Before Tax (189,037) (94,528)
Net Profit After Tax (189,037) (94,528)

*comparative figures for year 2008 are extracting from audited results

 
*the above results are preliminary initial and un-audited and subject to review and approval of audit committees, board of directors and statutory auditors.
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Jan 30, 2010   - 11:47 AM

SUMMARY OF FINANCIAL STATEMENT FOR THE YEAR ENDED2009
Company: AL-OULA CO.
SUMMARY OF FINANCIAL STATEMENT
FOR THE YEAR ENDED 31/12/2009
 
Due  to article no (3) Rules and Guidelines on Disclosure by issuer of Security and Insider trading .Company management  has please to Disclose initial  annual unaudited financial  results for the year ended 2009 *.
 
 
 
 
2009
2008
 
Sales
554,482
356,344
 
 
 
 
 
Cost of sales
553,352
540,292
 
 
 
 
 
 
 
 
 
Net loss for the year
(210,611)
(537,089)
 
 
 
 
·        un audited financial results
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Jan 30, 2010   - 11:14 AM

Initial Un-audited Results for the year ended 31st December 2009
Company: AL JAZEIRA SERVICES

Preliminary Un-audited results for the year ended 31st December 2009
Pursuant to Article 3 of Rules and Guidelines on Disclosure by Issuer of Securities and
Insider Trading issued by Capital Market Authority, Initial Un-audited results of the 
Al Jazeira Services Company for 12 months ended 31/12/09 is as under :
  31/Dec/09 31/Dec/08
  Group Parent Group Parent
         
Revenue          8,541,411      6,642,999         7,593,024           5,696,084
         
Operating Expenses         7,007,272      5,717,857         6,472,965           4,906,786
         
Operating Profit         1,534,139         925,142         1,120,059              789,298
         
Gain/(Loss) from Investments         2,132,421      2,096,971      (11,773,182)        (11,810,770)
         
Profit /(Loss) before Tax         3,666,560      3,022,113      (10,653,123)        (11,021,472)
         
Tax *              (522,742)             (483,562)
         
Profit /(Loss)  After Tax         3,666,560      3,022,113      (11,175,865)        (11,505,034)
         
Basic earning per share 0.020 0.017 (0.062) (0.063)
         
Book Value per share 0.150 0.139 0.055 0.053
         
* not estimated for the current year.
The above results are initial and subject to approval of the Audit Committee, Board of Directors 
& Statutory Auditors.
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Jan 30, 2010   - 10:47 AM

Initial unaudited financial results for the year ended Dec 31, 2009
Company: MUSCAT THREAD MILLS

 

We are pleased to submit the initial annual un-audited financial results for the year  ended December 31, 2009, Article 3 of the New Discloser Rules
 

 
Particulars
 
 
For the Year Ended 31-12-2009
 
 
For the Year Ended 31-12-2008
 
 
Total revenue
 
 
2,664,249
 
 
2,865,989
 
Total  expenditure
 
2,604,761
 
2,649,736
 
Other income
 
3,585
 
     8,339
 
Profit before tax
 
63,073
 
224,592
 
Provision for tax and deferred tax
 
4,201
 
22,799
 
Net Profit after Tax
 
58,872
 
201,793

 
 

 

 

 

 

 

 

 

 

Please Note:
 
1.   The above results represents initial un-audited financials and are subject to review and approval of Audit committee, Board of Directors and Shareholders of Muscat Thread Mills SAOG, Sultanate of Oman.
 
2.  The comparative figures for the year 2008 have been extracted from the audited results.
 
 
Dinesh Kumar
Finance Manager and Company Secretary

 

 

 

 

 

 

 

 

 

 

 

 

 
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Jan 30, 2010   - 10:34 PM

The Draft Audited Financial Results for the Financial Year ended 31st December, 2009
Company: OMAN INTERNATIONAL BANK
 
We would like to inform you that the Board of Directors meeting held on Thursday 28th January, 2010 approved the draft audited financial statements for the financial year ended 31st December 2009.  The Board noted the consolidated Net Profit of OMR 21.522 Mio compared to OMR 29.474 Mio for 2008 and proposed a cash dividend of 22% to be distributed in 2010.
 
Please note that the said draft financials and dividend are subject to the final approval of the Central Bank of Oman and the Annual General Assembly to be held on 31.03.2010.
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Jan 30, 2010   - 09:46 AM

Un-audited financial results for the year ended 31 December 2009.
Company: OMAN PACKAGING
Un-audited financial results for the year ended 31 December 2009.
 
 
 
In compliance with Article (3) of Disclosure Rules issued by CMA, the Management of Omani
Packaging Company (S.A.O.G), is pleased to disclose the summarized un-audited financial
results for the year ended 31 December 2009 as below:
 
 
 
 
 
31-Dec-09
31-Dec-08
 
RO
RO
Gross Income
            6,458,241
            6,960,662
Total Expenses
           (5,296,741)
           (6,442,359)
Tax Provision
             (144,156)
               (65,292)
Net profit for the year
            1,017,344
               453,011
Earning per share
                  0.031
                  0.023
Net Assets
            5,125,768
            4,432,782
Net Assets Value per Share
                  0.158
                  0.137
 
 
 
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Jan 30, 2010   - 09:28 AM

UNAUDITED FINANCIALS STATEMENT FOR THE YEAR 2009
Company: NATIONAL PACKAGING FACTORY
National Packaging Factory SAOG pleased to announce, the initial Annual Un-Audited Financial Results for the year ended 31st December 2009 as per Article 3 of the New Disclosure Rules.
 
Particulars
For the Year ended 31.12.2009 In R.O.
For the Year ended 31.12.2008 In R.O.
Total Revenues
1,139,697
1,211,742
Total Expenditure
910,107
1,042,312
Other Income
11,756
443
Profit Before Tax
241,346
169,873
Provision for Tax
26,336
16,786
Net Profit After Tax
215,010
153,087
 
Please Note:
1.      The above results represent initial un-audited financials and are subject to review and approval by Audit Committee, Board of Directors and Shareholders of National Packaging Factory SAOG.
2.      The comparative figures for the year 2008 are extracts from the audited results.
 
H.K Abdul Majeed
Manager
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Jan 30, 2010   - 09:23 AM

Initial unaudited financial results for the year ended 31/12/2009
Company: NATIONAL MINERAL WATER
Pursuant to Article 3 of Rules and Guidelines on Disclosure by Issuer of Securities and Insider Trading issued by Capital Market Authority, National Mineral Water Co. SAOG is pleased to disclose the following initial annual unaudited financial results for the year ended 31 December 2009.
Parent Company
Parent Company
Group
Group
2009
2008
2009
2008
RO
RO
RO
RO
Unaudited
Audited
Unaudited
Audited
 
 
Total revenue & other income
               7,554,315
7,260,752
    8,802,139
    7,511,931
Total expenses
            (7,453,076)
              (7,216,293)
  (10,116,856)
  (8,258,895)
Change in fair value
                     -
                    40,000
          -
        40,000
Profit before tax and legal reserve
101,239
                    84,459
      (1,314,717)
       (706,964)
Provision for tax
                  (8,546)
                    (9,146)
        (8,546)
        (9,146)
Net profit / (loss) for the year
                     92,693
                    75,313
      (1,323,263)
(716,110)
Attributable to:
 
 
Equity holders of Parent Company
                     92,693
                    75,313
      (668,585)
        (347,781)
Minority interests
                              -  
                                -  
      (654,678)
      (368,329)
 
Notes:
1.       The above results represent initial un-audited financials and are subject to audit, and review and approval of Audit Committee, Board of Directors and Shareholders of National Mineral Water Co. SAOG.
2.       Previous years audited figures are reclassified to conform to changes in presentation in the current year.
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Jan 30, 2010   - 07:21 PM

AES BARKA : Initial Un-audited results for 2009
Company: AES BARKA
Pursuant to Article 3 of Rules and Guidelines on Disclosure by Issuer of Securities And Insider Trading issued by Capital Market Authority, AES Barka SAOG is pleased to disclose the following annual un-audited financial results:
 
 
2009
2008
 
RO’000
RO’000
 
 
 
Operating revenue
40,182
40,338
Operating costs
(20,558)
(21,093)
Gross profit
19,624
19,245
Administrative and general expenses
(3,132)
(2,918)
Profit from operations
16,492
16,327
Finance costs
(7,378)
(7,759)
Other Income
24
191
Profit before tax
9,138
8,759
Deferred taxation
(1,096)
(1,051)
Net profit for the year
8,042
7,708
 
1.       The above-reported numbers represent initial un-audited results and are subject to approval and confirmation by:
 
                                 i.            Statutory auditors;
                                ii.            Audit Committee and Board of Directors; and
                               iii.            Shareholders of the Company.
 
2.  The comparative figures for the year 2008 are extracts from the audited results.
 
 
 
Nadeem Rizvi
Chief Executive Officer
 
30 January 2010
 
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Jan 30, 2010   - 06:48 PM

Initial Unaudited Financial Results 2009
Company: NAT. PHARMACEUTICAL IND.
National Pharmaceutical Industries S A O G
Initial Unaudited Statement of Income as 31 December 2009
 
                                                          2009                      2008
                                                          ( RO)                    ( RO)
 
Income
Sales                                                  7,606,670              3,611,159
Cost of sales                                   (5,526,123)            (3,222,367)
                                                             ----------------          ---------------
Gross Profit                                       (2,080,547)               388,792
Other income                                         123,499                   41,521
                                                              --------------            -----------------
                                                              2,204,046                430,313
                                                              ---------------           -----------------
Expenses
Product development costs               131,543                   51,088
Administration and selling              1,671,414                 806,628
Finance charges                                  359,694                 394,254
                                                           ---------------           --------------------
                                                            2,162,651                1,251,970
                                                           ---------------           --------------------
Profit/ (Loss) and total comprehensive
Income for the year                              41,395                  ( 821,657)                                                                                               
                                                          =========             ============
Basic Earning / (Loss) per share     0,001                         (0,012)
                                                              ======                    ========
 
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Jan 30, 2010   - 04:42 PM

Summarized Annual Unaudited Results for the year ended 31 Dec 2009
Company: OMAN FILTERS INDUSTRY
 
Oman Filters Industry Co. SAOG
Summarized Annual Unaudited Results for the year ended 31 Dec 2009
 
In Compliance with current regulatory requirements, Oman Filters Industry Co. is pleased to report preliminary summarized Unaudited results for the year ended 31 Dec. 2009
                                                                                   
 
 
 
2009
 
2008
 
Total Sales
572247
 
641.223
 
Cost of Sales
(771382)
 
(711.242)
 
Gross Loss
(199135)
 
(70.019)
 
Net Loss
(247517)
 
(142.547)
 
 
Please Note:
 
from the Audited results.A)    Comparatives for the year 2008 are extracts
 
B)     The summarized Unaudited results for the the year 2009 are subject to review 
Statutory Auditors and Shareholders and approval by OFIC Board of Directors, Audit Committee and Company’s
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Jan 30, 2010   - 03:17 PM

INITIAL UN-AUDITED FINANCIAL RESULTS FOR 2009
Company: GULF MUSHROOM PRODUCTS
Disclosure of Initial Annual Un-audited Financial Results
 
As required under Article(3) of Rules and Guidelines on Disclosure by Issuer of Securities and Insider Trading, Gulf Mushroom Products Co. SAOG is pleased to disclose its initial un-audited financial results for the year ended 31 December 2009 as follows –
 
 
 
Year
2009
2008
 
( RO )
( RO )
Total Revenue
4,629,923
3,990,788
Total Expenses
3,721,488
3,236,351
Net Profit after Tax
908,435
754,437
 
 
Please Note –
 
  1. The comparative figures for 2008 are extracted from the audited financial statements.
  2. The un-audited results for the year ended 31 December 2009 summarized above are subject to approval by the Audit committee and Board of directors.
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Jan 30, 2010   - 02:38 PM

Initial Annual Un-audited Consolidated Results for the period ended 31 December 2009
Company: NAT. HOSPITALITY INSTITUTE 50%
National Hospitality Institute SAOG
Initial Annual Un-audited Consolidated Financial Results
For the year ended 31st December 2009.
 
 
 (Amount in RO)
 
2009
2008
Total Revenue
891,250
1,039,177
Total Expenses
(944,996)
(891,747)
Net Profit
(53,746)
147,430
 
 
 Please Note:
 
A- The comparative for the year 2008 are extracts from the audited results.
B- The un-audited consolidated results for the year ended 31 December 2009 summarized above, are subject to review and approval by Audit Committee, Board of Directors, Statutory Auditors and Shareholders of NHI.
 
 
 
 
Robert M Maclean
Principal
 
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Jan 28, 2010   - 11:57 AM

Unaudited accounts for the twelve months ended 31st December, 2009.
Mutual Fund: ORYX FUND
Unaudited accounts for the twelve months ended 31st December, 2009.
Based on the Unaudited financial statements for the twelve months ended 31st December, 2009. brief highlights are as follows:
Oryx Fund 31-Dec-09 31-Dec-08
In Rial Omani
Profit for the period  (224,346)                           (6,313,271)
Total Net Assets                            8,167,373                              8,681,222
Number of outstanding units                            7,600,460                              7,591,097
Net Asset value per outstanding unit  1.075                                     1.144
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Jan 28, 2010   - 11:50 AM

Unaudited accounts for the twelve months ended 31st December, 2009.
Mutual Fund: MUSCAT FUND
Unaudited accounts for the twelve months ended 31st December, 2009.
Based on the Unaudited financial statements for the twelve months ended 31st December, 2009. brief highlights are as follows:
Muscat Fund 31-Dec-09 31-Dec-08
In Rial Omani
Profit for the period 1,549,199 (8,268,304)
Total Net Assets 11,944,843 10,669,973
Number of outstanding units 8,977,609 9,080,356
Net Asset value per outstanding unit 1.331 1.175
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Jan 28, 2010   - 11:23 AM

Vision Emerging GCC Fund NAV as on January 25, 2010.
Mutual Fund: VISION EMERGING GCC FUND
 
Subject: Net Asset Value for Vision Emerging GCC Fund
 
Please find below the provisional Net Asset Value for Vision Emerging GCC Fund:
 
 
As on January 25, 2010
Net Asset Value RO
12,568,515
Issued Units
18,289,847
*Net Asset Value per Unit RO
0.687
YTD performance
-0.15%
 
*Please note that the Fund paid 8% dividend for 2005 & 2006 and 60% bonus shares for 2007.
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Jan 28, 2010   - 11:21 AM

Vision Emerging GCC Fund NAV as on January 24, 2010.
Mutual Fund: VISION EMERGING GCC FUND
 
Subject: Net Asset Value for Vision Emerging GCC Fund
 
Please find below the provisional Net Asset Value for Vision Emerging GCC Fund:
 
 
As on January 24, 2010
Net Asset Value RO
12,484,082
Issued Units
18,289,847
*Net Asset Value per Unit RO
0.683
YTD performance
-0.73%
 
*Please note that the Fund paid 8% dividend for 2005 & 2006 and 60% bonus shares for 2007.
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Jan 28, 2010   - 11:10 AM

UN-AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST DECEMBER, 2009
Company: OMAN CHROMITE
                                                    
Change%
2008
2009
Particular
12.5%
1512970
1728821
Total revenues
(12.7%)
(1096752)
(973027)
Operating cost
 
44.9%
416218
755794
Profit before taxation
 
(4.9%)
(78654)
(74927)
Provision for taxation
 
50.4%
337564
680867
Net profit after tax
 
 
                                        
*comparative figures for year 2008 are extracting from audited results
 
*the above results are preliminary initial and un-audited and subject to review and approval of audit committees, board of directors and statutory auditors.
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Jan 28, 2010   - 10:31 AM

Disclosure of initial Unaudited fianacial results for the year ended 31 December 2009
Company: MUSCAT FINANCE
The initial annual un-audited results of the company for the year ended 31st December 2009 are as follows :
                                        Amount in RO’000
Particulars
December
2009
December 2008
%
Gross income   
8,651
7,427
16
Total Expenses
5,948
4,867
22
Net anticipated profit after tax
2,703
2,560
6
Total assets
77,501
71,056
9
 
The results are unaudited and are subject to change/approval of
·      The Statutory Auditors ,The Audit Committee and  The Board of directors
·      Central Bank of Oman
·      Shareholders of the Company
                                                                                                               
Best Regards.
 
Ajit Engineer
Chief Executive Officer
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Jan 28, 2010   - 10:19 AM

Initial Unaudited Results 2009
Company: SALALAH BEACH RESORT

Pursuant to Article (3) in Chapter 2 of Rules and Guidelines on Disclosure by Issuer of Securities and Insider Trading issued by the Capital Markets Authority, Salalah Beach Resort S.A.O.G is pleased to disclose the following initial annual unaudited results for the year ended 31st December 2009:
Description 2009 (Unaudited) RO ('000) 2008 (Audited) RO ('000)
Total Revenue              3,415           3,417
Total Expense              2,602           2,654
Profit before Taxation                 813              763
Deferred Taxation                 130                -  
Net Profit for the year                 943              763
Note:
These results are initial and unaudited, subject to the review and approval of the Audit Committee, Board of Directors and the Shareholders of the Company. AGM will be held on 23rd March 2010.

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Jan 28, 2010   - 10:18 AM

Changes in Senior Management
Company: AL FAJAR AL ALAMIA
Mr.W.M.Sutherland, Chief Operating Officer has resigned from the services of the company due to personal family reasons. The Board has accepted his resignation and Mr.Sutherland will be returning to UK on 3rd February 2010.
 
The Board has promoted Mr.Sreekumar Nair as the General Manager of the company effective from 1st January 2010.
 
Mr.Sreekumar Nair is an Indian national and has been in service with the company for more than 24 years. During his long tenure with the company he has worked in various positions and is currently the Manager of the company.
 
In his new role as General Manager, Mr.Sreekumar Nair would be responsible for further consolidation and growth of the company’s position in the market and identify avenues for future exports.
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Jan 28, 2010   - 10:16 AM

Announcement of Unaudited Financial Result–31.12.09
Company: AL FAJAR AL ALAMIA Al Fajar Al Alamia Co. SAOG has announced the Unaudited financial results for the half-year ended 31.12.2009. Related financial statements have been uploaded in MSM website.
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Jan 28, 2010   - 10:14 AM

INITIAL UNAUDITED FINANCIAL RESULTS FOR THE YEAR 2009
Company: NATIONAL DETERGENT
 
In compliance with the current regulatory requirements under Article (280), of Executive Regulation of the Capital Market Law issued by the decision no. 1/2009, on provision for disclosure of issuer of securities and insider trading, we are pleased to submit the Initial annual unaudited financial results for the year ended 31st December 2009.
 
 
 
2009
RO
2008
RO
Total Sales
 
15,658,447
13,673,506
Total Expenses
 
14,511,605
13,203,988
Net Profit after tax provision
1,146,842
 
469,518
 
 
 
Please note that:
 
-Comparative figures for year 2008 are extracts from the Audited financial statements.
 
-The above financial results for year ended 31 Dec 2009 represent initial and un-audited and are subject to review and approval of Audit Committee, Board of Directors, External auditors and Shareholders of the Company.
 
 
 
 
…………………………
V. Sundaresan
Director & General Manager
 
 
Date: January 27, 2010
 
 
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Jan 28, 2010   - 09:59 AM

Preliminary un-audited consolidated financial results for the 4th Q ended 31st December 2009
Company: GULF INVESTMENT SER.
In compliance with Article (3) of Disclosure Rules issued by CMA, The Management of Gulf Investment Services SAOG, is pleased to disclose the preliminary summarized un-audited consolidated financial results for the 4th Q ended 31st December 2009 as following
The results are subject to approval by Board of Directors of the company. The Board approved results shall be released in due course.
 
 
Group
Parent
Group
Parent
31 Dec 09
31 Dec 09
31 Dec 08
31 Dec 08
 
RO
RO
RO
RO
 Gross Income
2,028,198
1,709,809
(2,836,383)
(3,555,994)
 Total Expenses
   (1,216,930)
      (508,795)
   (1,169,593)
        (512,494)
 Tax
               -  
               -  
         (9,179)
            (9,179)
 Net Profit for the year
811,268
1,201,014
(4,015,155)
(4,077,667)
Earnings /(loss) per share 
          0.007
          0.008
         (0.026)
           (0.027)
 Net Assets
19,752,870
20,795,500
18,468,999
19,216,769
 Net Assets Value per share
          0.131
          0.138
          0.123
             0.128
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Jan 28, 2010   - 09:50 AM

The Board of Directors approved the 2009 Financial Statements and proposed 15.0% cash dividend and 10.0% bonus shares
Company: BANK DHOFAR
Reference to the news which published in the MSM website on 14/01/2010 regarding the Initial Annual Un-audited Financial Results for 2009, the Board of Directors of Bank Dhofar (SAOG) in their meeting held on 27th Jan 2010 reviewed and approved the 2009 financial statements of the bank and proposed a cash dividend of 15.0% amounting to RO 11.09 million and bonus share issue of 10.0% amounting to 73,958,653 shares of RO 0.100 par value each. A resolution to approve these dividends will be presented to the shareholders at the Annual General Meeting to be held on 28th March 2010.
 
 
The Financial statements and the proposed Dividend distribution are subject to approval of Bank’s shareholders and regulatory authorities.
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Jan 28, 2010   - 09:37 AM

Initial Annual Un-audited financial results for the year ended 31st. December 2009
Company: RAYSUT CEMENT
This has reference to the executive regulation of the Capital Market law issued on 18th.March 2009 and according to article No.280 of the law and the desire of our company to establish transparency and create confidence in securities investment.
This is to inform you that the initial un-audited financial results of the company for the year ended 31st. December 2009 are as follows:
Particulars
F.Year 2009
(un-audited)
F.Year 2008 (audited)
 
RO
RO
Total sales/Turnover
93,407,707
89,056,234
Cost of sales/Expenses
(61,578,220)
(58,087,771)
Net profit after tax
28,482,487
27,107,463
 
Please note that the above results are initial and un-audited and subject to the approval of the Statutory Auditors, Audit Committee and Board of Directors.
 
With best regards,
 
 
Mohd Ahmed Al Dheeb
Chief Executive Officer
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Jan 28, 2010   - 09:23 AM

Initial Un-audited Financial results 2009
Company: NATIONAL GAS
National Gas Co, SAOG is pleased to announce the initial un-audited consolidated financials results for the year ended 31.12.2009.
 
 
 
2009
2008
 
Group (RO)
Parent (RO)
Group (RO)
Parent (RO)
Total Sales and revenues
9,136,487
8,574,421
12,711,840
12,415,242
Total Costs
(8,110,621)
(7,560,133)
(12,004,912)
(11,663,476)
Net Profit Before Tax
1,025,866
1,104,288
706,928
751,766
Net Profit After Tax
909,057
897,479
672,588
672,426
 
  
Note:
The summary of the un-audited results for the year 2009 are subject to review and approval by Audit Committee, Board of Directors, Statutory Auditors and Shareholders.
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Jan 28, 2010   - 09:03 AM

The initial un-audited Consolidated Financial Results for the Financial Year ended 31.12.2009 for Muscat National Holding Co. SAOG
Company: MUSCAT NATIONAL HOLDING
The initial un-audited Consolidated Financial Results for the Financial Year ended 31.12.2009 for Muscat National Holding Co. SAOG
In compliance with rules and guidelines on disclosure issued by the Capital Market Authority vide the Administrative Decision No. 5/2007 and in compliance with CMA circulars No. E/17/2008 and E/2/2009, Muscat National Holding Co. SAOG is pleased to announce the initial un-audited consolidated results for the year ended 31 December 2009 as follows:
 
 
 
2009
2008
 
RO
RO
 
 
 
Gross Premium
12,127,046
11,266,247
 
 
 
Underwriting Contribution
1,834,792
1,815,677
Investment Income/(Loss)-Net
2,759,130
(2,715,040)
 
4,593,922
(899,363)
 
 
 
Total Expenses
(1,445,925)
(1,443,805)
 
 
 
Net Profit/(Loss) After Tax
3,014,708
(2,449,472)
 
 
Please note that the audited consolidated results will be discussed and reviewed by the Board of Directors prior to the final submission of the audited financials for the final approval of the Annual General Assembly to be held on 31 March, 2010.
 
 
Thank you,
 
For Muscat National Holding Co. SAOG
 
 
 
Anthony Paton
General Manager
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Jan 28, 2010   - 08:53 AM

The initial un-audited Financial Results for the Financial Year ended 31.12.2009
Company: OMAN INTERNATIONAL BANK
After Compliments,
 
Subject: The initial un-audited Financial Results for the Financial Year ended 31.12.2009 for Oman International Bank SAOG
 
 
In compliance with rules and guidelines on disclosure issued by the Capital Market Authority vide the Administrative Decision No. 5/2007 and in compliance with CMA circulars No. E/17/2008 and E/2/2009, Oman International Bank is pleased to announce the initial annual un-audited results for the year ended 31 December 2009 as follows:
 
                                                           2009                             2008
                                                          RO(M)                         RO(M)
 
Interest Income                                    40.2                             44.1
Interest Expense                                   8.3                             14.3
Net Profit After Tax                             21.5                             29.4
 
 
Please note that the audited results will be discussed and reviewed by the Board of Directors prior to submission to the Central Bank of Oman for its approval. Furthermore, the final audited results will be submitted for final approval of the Annual General Assembly to be held on 31.03.2010.
 
 
Thank you,
 
For Oman International Bank SAOG
 
 
 
 
Douglas Emmett
General Manager
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Jan 28, 2010   - 08:12 AM

Al AMAL FUND JIA - DAILY NAV
Mutual Fund: FINCORP AL AMAL FUND
03.01.10      1.556 (Provisional and Unaudited)
04.01.10       1.545 (Provisional and Unaudited)
05.01.10       1.558 (Provisional and Unaudited)
06.01.10       1.562 (Provisional and Unaudited)
07.01.10       1.583 (Provisional and Unaudited)
10.01.10       1.591 (Provisional and Unaudited)
11.01.10       1.594 (Provisional and Unaudited)
12.01.10       1.592 (Provisional and Unaudited)
13.01.10       1.583 (Provisional and Unaudited)
14.01.10       1.570 (Provisional and Unaudited)
17.01.10       1.570 (Provisional and Unaudited)
18.01.10       1.558 (Provisional and Unaudited)
19.01.10       1.554(Provisional and Unaudited)
20.01.10       1.541 (Provisional and Unaudited)
21.01.10       1.531 (Provisional and Unaudited)
24.01.10       1.521 (Provisional and Unaudited)
25.01.10       1.531(Provisional and Unaudited)
26.01.10       1.537(Provisional and Unaudited)
27.01.10        1.551(Provisional and Unaudited)
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Jan 28, 2010   - 04:30 PM

Proposed Dividend for the year ending 31st Dec 2009
Mutual Fund: THE FIRST MAZOON FUND
At the Investor’s Committee meeting held on January 28, 2010 the Member’s proposed to distribute 20% dividend (5% Cash & 15% Stock) to the Unit holders subject to Capital Markets Authority and Unit Holder approval in the forthcoming Annual Unit holders meeting.
 
Investors Committee
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Jan 28, 2010   - 04:27 PM

Unaudited result for the nine Months period ended 31 December 2009
Company: THE FINANCIAL CORPORATION
The Board of Directors of The Financial Corporation Co. SAOG has approved the unaudited financial statements for the Nine month period ended 31 December 2009 in their meeting held on 28 January 2010. A brief summary of the financial results for the period is given below.
 
PARTICULARS
Nine month period ended
31 Dec 2009 (RIAL)
Nine month period ended 
31 Dec 2008 (RIAL)
Total Operating Income
1,571,988
(74,291)
Operating Expenses
(977,661)
(1,323,963)
Operating Profit/(Loss)
594,327
(1,398,254)
Share of profit/(loss) from associate
473,128
(1,265,004)
Net Profit/(Loss) before taxes
1,067,455
(2,663,258)
Taxation
(6,201)
-
Net Profit/(loss) after taxes
1,061,254
(2,663,258)
Earnings per share (RO)
0.161
(0.403)
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Jan 28, 2010   - 04:24 PM

Results for the year ended 2009
Mutual Fund: THE FIRST MAZOON FUND
This is to inform you that at the Investors’ Committee(IC) meeting held on Thursday, January 28, 2010 the members have approved the initial draft audited financial statements for the Year ended 31 December 2009 and the details are as follows.
 
 
 
31-Dec-2009
31-Dec-2008
 
In Rial Omani
Profit / (Loss) for the period
768,203
(2,069,176)
Total net assets
4,234,707
3,506,891
Number of outstanding units
3,619,961
3,659,922
Net asset value per outstanding unit
1.170
0.958
Return for the period (Adjusted for Corporate action for the earlier period)
22.09%
-33.9%
 
 
This is subject to the approval of the Unit Holders  in the forthcoming Annual Unit holders meeting.
 
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Jan 28, 2010   - 02:53 PM

Initial Un-Audited Results for the Period Ended 31 December 2009
Mutual Fund: INVESTMENT STABILIZATION FUND
Please find below the Initial Un-Audited Financial Results for the 11 months period ended 31 December 2009:
 
 
31-12-2009
RO
Net investment income
21,248,589
Total Expense (in RO)
(Including initial issue expenses)
 
474,717
Change in net assets attributable to holders of redeemable units
20,773,872
Net assets attributable to unit holders
127,774,885
Units in issue
106,718,537
Net asset value per unit (RO)
1.197
 
These are the first eleven months financial information prepared by the Fund and accordingly no comparative figures are presented for comparative purpose.
Please note that the above financials are un-audited and subject to approval of the Auditors, Investor Committee Members and the unitholders.
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Jan 28, 2010   - 02:02 PM

Unaudited preliminary management estimate
Company: AL OMANIYA FINANCIAL SER.
Al Omaniya Financial Services announces its preliminary un-audited management estimates for the year ending 2009.
 
We give below the significant performance indices of the financial results:
 
                                                                                                  Amount in RO ‘000s
 
 Year 2009
Year 2008
Total Assets
116,861
123,584
Net leased assets
114,518
119,001
Total Revenue
12,472
11,700
Profit after Tax
3,675
3,302
 
This is subject to the approval of the Statutory Auditors, Central Bank of Oman, the Audit Committee, the Board of Directors and the Shareholders.
 
Best Regards,
 
 
 
AFTAB PATEL
Chief Executive Officer
 
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Jan 28, 2010   - 01:52 PM

Draft Statement of Initial Annual Profit & Loss- Unaudited for the Year ended 31st December 2009
Company: OMAN CERAMIC CO.
 
Figures in Rial Omani
 
 
 
 
Year ended
Year ended
 
31st Dec 2009
31st Dec 2008
 
 
 
Sales
2,444,308
2,594,592
 
 
 
Less: Cost of Sales
1,800,899
1,757,098
 
 
 
Gross Profit
643,409
837,494
 
 
 
Other Income
6,074
63,663
 
 
 
General Administrative Expenses
             (700,710)
             (614,868)
 
 
 
Financial Charges(net of Deferred Govt Grant)
             (148,333)
             (144,133)
 
 
 
Net Profit(Loss) for the year
             (199,560)
142,156
 
 
 
Note: The above figures are initial and unaudited as per CMA rules and guidelines on disclosure.
 
 
 
 
 
 
 
 
 
Vish Natrajan
 
 
C.E.O.
 
 
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Jan 28, 2010   - 01:37 PM

Completion of Sale of DCF Investment in Bank Dhofar
Company: DHOFAR CATTLE FEED
 
Sale of DCF Investment in Bank Dhofar
 
Further to our disclosure to MSM dated 20th Jan 2010 regarding the sale of bank Dhofar shares of 9,967,845 , we would like to confirm that the deal has been executed on 28th Jan 2010
 
 
 
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Jan 27, 2010   - 12:56 PM

Initial unaudited results for the year ended 31st December 2009
Company: OMAN FIBER OPTIC
Pursuant to Article (3) of Rules and Guidelines on Disclosure by Issuer of Securities and Insider Trading issued by the Capital Markets Authority, Oman Fiber Optic Co. S.A.O.G is pleased to disclose the following initial annual unaudited results for the year ended 31st December 2009:
 
Description
2009
(Unaudited)
RO (‘000)
 
2008
(Audited)
RO (‘000)
Total revenue
9,810
8,541
Total expenses
(7,822)
(6,908)
Profit from operations
1,988
1,633
Other income
-
257
Profit before taxation
1,988
1,890
Provision for tax/Taxation credit
(240)
21
Net profit after deduction of tax
1,748
1,911
 
Note:
 These results are initial and unaudited, subject to the review and approval of the Audit Committee, Board of Directors and the Shareholders of the Company. AGM will be held on 20th March 2010.
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Jan 27, 2010   - 12:21 PM

Dividend proposal for the financial year 2009
Company: SAHARA HOSPITALITY
The Board of Directors of M/s Sahara Hospitality Co. SAOG,  in its' meeting held on January 24, 2010, recommended a dividend of 13% (RO.0.130 per equity share) for the financial year 2009, subject to shareholders' approval.
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Jan 27, 2010   - 11:59 AM

First Mazoon Fund Daily NAV for the month of January 2010
Mutual Fund: THE FIRST MAZOON FUND
Date
NAV (in RO)
03-01-2010
1.183
04-01-2010
1.178
05-01-2010
1.187
06-01-2010
1.189
07-01-2010
1.198
10-01-2010
1.201
11-01-2010
1.199
12-01-2010
1.196
13-01-2010
1.190
14-01-2010
1.188
17-01-2010
1.187
18-01-2010
1.184
19-01-2010
1.182
20-01-2010
1.179
21-01-2010
1.175
24-01-2010
1.165
25-01-2010
1.172
26-01-2010
1.168
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Jan 27, 2010   - 11:36 AM

The initial unaudited financial results of Al Maha Petroleum Products Marketing Co. SAOG for the year ended 31 December 2009
Company: Al MAHA PETROLEUM PRODUCTS MARKETING
The initial unaudited financial results of Al Maha Petroleum Products Marketing Co. SAOG for the year ended 31 December 2009 are as follows
 
2008
Audited
RO
2009
Unaudited
RO
 
191,657,706
170,995,278
Revenue
( 171,530,681 )
( 152,227,640 )
Cost of sales
( 12,464,053 )
( 13,284,194 )
Operating & administration expenses
7,349,385
5,670,151
Net profit after income tax
 
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Jan 27, 2010   - 11:23 AM

Initial Un-audited Financial results for the financial year ended 31st December 2009.
Company: CONSTRUCTION MATERIALS IND.
 
In accordance to compliance of Article (3) of disclosure rules of CMA, we are pleased to submit the initial Annual Un-audited Financial results for the year ended 31st December 2009.
 
Un-audited Initial Financial Results for the year ended 31st December 2009
2008
 
2009
 
 
RO.
 
RO.
 
3,197,113
3,054,791
Total Revenue
(2,907,722)
2,473,674
(Total Expenditure
(429,203)
-
Change in Estimate for Depreciation
(139,812)
581,117
Profit / (Loss) before Tax
(139,812)
514,983
Profit / (Loss) after Tax
 
Note : The above results are initial figures and subject to the approval of Audit Committee, Board of Directors and the Statutory Auditors.
 
 
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Jan 27, 2010   - 10:12 AM

Unaudited Financial Results for 2009
Company: OMAN OIL MARKETING
Subject: Oman Oil Marketing Board Meeting Announcement
 
 
Oman Oil Marketing Company SAOG today reported an un-audited net income after tax of RO 5.4 million for the year ended 31 December 2009 (2008 RO 6.3 million). The results were approved by the Board of Directors at a Board meeting on 27th January 2010.
 
The Directors of the Company also recommended a final dividend of RO 0.035 (35 baisas) per share that represents a payout of 35 % on the nominal value of RO 0.100 per share for the year 2009 (35 baisas per share that represents a payout of 35% on the nominal value of RO 0.100 per share for the year 2008). The payment is subject to shareholder approval at the Annual General Meeting to be held on 31st March 2010. It is expected that the final dividend, as approved at the Annual General Meeting, shall be paid to shareholders in mid April 2010.
 
SUMMARY OF RESULTS (UN-AUDITED)
 
 
 
2008
2009
Growth%
 
Revenue
 
RO
 
170.1
 
168.4
 
-1
 
Cost of  Sale
 
RO
 
152.9
 
151.0
 
-1
 
Net income after tax
 
RO
 
6.3
 
5.4
 
 
-14
 
Earnings per share (EPS)
 
Baisa
 
98
 
83
 
 
-14
 
(All figures in millions of Rials, except EPS in Baisa)
 
 
CEO
Eng. Omar Ahmed Qatan
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Jan 27, 2010   - 10:10 AM

Initial & Unaudited Financials For The Year Ended 31/12/2009
Company: OMAN FOODS INTERNATIONAL
 
 
Initial & Unaudited Financial Statements
For the Year Ended 31st December, 2009
 
 
 
 
 
2009
(Unaudited)
       
2008
(Audited)
 
 
RO
RO
 
Turnover
 
11,173,132
 
6,545,196
 
 
Cost of sales
 
(10,230,660)
 
(5,259,304)
 
 
Gross Profit
 
942,472
1,285,892
 
Other Income
 
180,043
 
152,514
 
 
Profit
 
1,122,515
 
1,438,406
 
 
Total Operating Expenses
 
(585,259)
 
 
(530,707)
 
 
Less : Provision For Stock
 
(40,894)
 
-
 
 
Expected Net Profit for the year
496,362
 
 
907,699
 
 
 
Note:
 
The above Figures are “Initial & Unaudited” & Subject to Audit and Approval From Audit Committee, Board of Directors and Shareholders
 
 
 
 
 
 
 
 
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Jan 27, 2010   - 09:40 AM

Disclosure on Audited Financials for 2009
Company: UNITED FINANCE
  
The Board of Directors of United Finance Company met on 27th January 2010 and took important decisions, a summary of which is as under:
 
1. Financial accounts for the year 2009 audited by PricewaterhouseCoopers, statutory auditors, were approved by the Board. Key results are as under:
                  
 
 
2009 (RO)
1
Instalment Finance Income
12,926,133
2
Net profit for the year after tax
     933,461
3
Total Assets
111,831,453
4
Instalment Finance Debtors
104,260,192
5
Shareholders’ Equity
30,741,489
6
Basic earnings per share
0.004
7
Net asset per share
0.131
 
2. The Board of Directors recommended to retain the net earnings to strengthen the net worth and distributable surplus of the company and recommended a stock dividend of 6.91% for the year 2009.
 
The financial accounts and stock dividend are subject to the approval of the Central Bank of Oman and the AGM of the company.
 
 
 
Mansoor Mubarak Al Amri
Chief Executive Officer
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Jan 27, 2010   - 09:40 AM

The initial un-audited financial results for the financial year 2009 ended 31st December 2009
Company: PORT SER. CORPORATION
In accordance with the provision of Article (280) of the Executive Regulations of the Capital Market Law promulgated by the administrative Resolution 1/2009, we are pleased to disclose the initial financial results of the Corporation for the year ended 31st December 2009 as given below:
 

 
Details
 
2009
Restated
2008
 
Change
 
RO.
RO.
%
 
Total operating revenue
 
    18,862,712
 
   26,019,174
 
    (27.5)
Total operating expenses
    (10,267,559)
  (12,184,553)
    (15.7)
Operating profit
    8,595,153
   13,834,621
   (37.9)
Net non-operating income
    2,038,248
   1,117,268
   82.4
Profit before tax and franchise fee
    10,633,401
   14,951,889
   (28.9)
Income tax
    (461,782)
   (1,056,043)
   (56.3)
Franchise fee
    (4,713,560)
   (6,167,463)
   (23.6)
Net profit for the year
     5,458,059
   7,728,383
   (29.4)
Earning per share
     0.057
   0.081
 

 
Please note that the figures for 2009 are initial un-audited results and are subject to approval/confirmation/concurrence by the following bodies of the Port Services Corporation (SAOG):
 
  •          Statutory Auditors
  •          Board of Directors
  •          Shareholders
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Jan 27, 2010   - 09:37 AM

MAJAN CAPITAL FUND JIA - DAILY NAV
Mutual Fund: MAJAN CAPITAL FUND JIA
02.01.10      1.359 (Provisional & Unaudited)
03.01.10      1.385 (Provisional & Unaudited)
04.01.10      1.374 (Provisional & Unaudited)
05.01.10      1.386 (Provisional & Unaudited)
06.01.10      1.389 (Provisional & Unaudited)
07.01.10      1.408 (Provisional & Unaudited)
10.01.10      1.415 (Provisional & Unaudited)
11.01.10      1.418 (Provisional & Unaudited)
12.01.10      1.417 (Provisional & Unaudited)
13.01.10      1.408 (Provisional & Unaudited)
14.01.10      1.397 (Provisional & Unaudited)
17.01.10      1.397 (Provisional & Unaudited)
18.01.10      1.386 (Provisional & Unaudited)
19.01.10      1.383 (Provisional & Unaudited)
20.01.10       1.371 (Provisional & Unaudited)
21.01.10       1.362 (Provisional & Unaudited)
24.01.10        1.354(Provisional & Unaudited)
25.01.10        1.363(Provisional & Unaudited)
26.01.10        1.370 (Provisional & Unaudited)
27.01.10       1.384 (Provisional & Unaudited)
28.01.10       1.377(Provisional & Unaudited)
 
 
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Jan 27, 2010   - 09:27 AM

Proceedings of the Board Meeting held on 26th January, 2010
Company: NATIONAL FINANCE
The Board of Directors of National Finance Co. SAOG met on January 26, 2010 and took important decisions, a summary of which is as under:
 
The Financial Statements for the year 2009 audited by KPMG, statutory auditors, were approved by the Board.   Key results are as under:
 
 
Amount in RO ‘000                             
 
2009
2008
Growth
Net investment in finance leases
69,534
76,899
-9.6%
Total assets
72,150
80,359
-10.2%
Net worth
18,784
17,610
6.7%
Income from financing activities
8,539
7,837
9.0%
Interest expense
(3,806)
(2,671)
42.5%
Total Income
5,224
5,166
1.1%
Operating expenses
(2,050)
(2,206)
-7.1%
Profit before Provision
3,174
2,960
7.2%
Provision
529
686
-22.9%
Profit before tax
2,645
2,274
16.3%
Net Profit after tax
2,321
1,995
16.3%
                                                                       
 
The Board of Directors recommended distribution of 20% stock dividend for the year 2009.
 
The financial statements and dividend are subject to the approval of the Central Bank of Oman and the Annual General Meeting of the company.
 
 
 
Robert Pancras
Chief Executive Officer
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Jan 27, 2010   - 09:19 AM

Sahara Hospitality Co.SAOG published Audited Financial Results for the year ended 30th November 2009
Company: SAHARA HOSPITALITY
Sahara Hospitality Co. SAOG has published its audited financial results for the year ended 30th November 2009. The company has recorded a Net Profit of Rials Omani 1.5 million on Revenue of Rials Omani 6.5 million.
 
 
12 months ended 30 Nov., 2009
R.O’. 000
12 months ended 30 Nov., 2008
R.O. ‘000
Turnover/Revenue
6,519
5,137
Profit before Tax
1,733
1,408
Net Profit
1,529
1,253
 
 
Annual reports along with audited financial statements have been uploaded in the Sahara Hospitality Co. SAOG page at the Muscat Securities website as well as company website http://www.sahara.com.om on 27thth January 2010.
 
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Jan 27, 2010   - 08:46 AM

Initial annual unaudited financial results for the year ended 31/12/2009
Company: DHOFAR INT. DEV. & INV. HOLDING
INITIAL ANNUAL UNAUDITED FINANCIAL RESULTS FOR THE YEAR ENEDED 31st DECEMBER 2009.
 
In compliance with Articles (3) of Disclosure of Financial Statements. Dhofar International Development & Investment Holding Company SAOG is pleased to report its initial unaudited financial results for the year ended 31st December 2009 as under:
 
 
Consolidated     R.O
Parent     R.O
Unaudited 2009
Audited 2008
Unaudited 2009
Audited 2008
Total Income
9,931,768
13,544,362
5,549,946
12,419,408
Total Expenses
(3,046,574)
(1,541,398)
(3,040,917)
(1,536,165)
Fair value gain / (loss) on investment through income statement
3,713,610
(4,317,692)
3,576,109
(3,628,853)
Impairment in the value of investment
(30,705)
(1,094,248)
(30,705)
---------
Net profit for the year
10,568,099
6,591,024
6,054,433
7,254,390
Minority interest
70,383
(22,364)
---------
--------
Profit attributable to equity holders of Parent Company
10,638,482
6,568,660
6,054,433
7,254,390
Total Assets
100,684,050
102,985,466
207,746,625
137,056,852
Net assets per share
0.362
0.339
0.899
0.511
Basic earning per share
0.053
0.033
0.030
0.036
 
NOTE :
These results are subject to review and approval by Audit Committee / Board of Directors and External Auditors
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Jan 27, 2010   - 08:42 AM

National Bank of Oman appoints new Chief Executive Officer (CEO)
Company: NATIONAL BANK OF OMAN
The National Bank of Oman would like to announce that Mr. Murray Sims, CEO of National Bank of Oman since April 2008 will be leaving the Bank on the expiry of his contractual term.
 
The Board of National Bank of Oman express their appreciation to Mr. Murray Sims for his contribution to the Bank during his period of office, and are pleased to announce the appointment of Mr. Salaam Al Shaksy as his successor as CEO.
 
Mr. Al Shaksy has been CEO of Dubai Banking Group and Dubai Bank since May 2005, and prior to this was the CEO of Dubai Islamic Investment Group.
 
Mr. Al Shaksy has more than 23 years experience in Banking, including previously working in Senior positions in National Bank of Oman , Bank Dhofar ,and CEO of  Majan International Bank.
 
He currently has a number of board memberships and affiliations in Oman and elsewhere.
 
After an appropriate handover period Mr. Al Shaksy is expected to assume his duties as CEO of the Bank at the end of March 2010.
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Jan 27, 2010   - 08:27 AM

Al AMAL FUND JIA - DAILY NAV
Mutual Fund: FINCORP AL AMAL FUND
03.01.10       1.556 (Provisional and Unaudited)
04.01.10       1.545 (Provisional and Unaudited)
05.01.10       1.558 (Provisional and Unaudited)
06.01.10       1.562 (Provisional and Unaudited)
07.01.10       1.583 (Provisional and Unaudited)
10.01.10       1.591 (Provisional and Unaudited)
11.01.10       1.594 (Provisional and Unaudited)
12.01.10       1.592 (Provisional and Unaudited)
13.01.10       1.583 (Provisional and Unaudited)
14.01.10       1.570 (Provisional and Unaudited)
17.01.10       1.570 (Provisional and Unaudited)
18.01.10       1.558 (Provisional and Unaudited)
19.01.10       1.554(Provisional and Unaudited)
20.01.10       1.541 (Provisional and Unaudited)
21.01.10       1.531 (Provisional and Unaudited)
24.01.10       1.521 (Provisional and Unaudited)
25.01.10       1.531(Provisional and Unaudited)
26.01.10       1.537(Provisional and Unaudited)
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Jan 27, 2010   - 08:26 AM

Proceedings of the Board Meeting held on 26th January 2010
Company: TAAGEER FINANCE
The Board of Directors of Taageer Finance Company SAOG met on 26th January 2010 to discuss the Audited Financials for the year 2009, a summary of which is as under :
 
  1. Financial statements for the year ended 31st December 2009 audited by Deloitte & Touché (M.E.), statutory auditors, were approved by the Board. We give below the key performance indices :
 
                                                                                                Amount in RO’000s
Details
       2009
    2008
 % change
Net Investment in Finance Leases
   72,451
   71,082
   1.93
Total Borrowings (includes Deposits)
   50,554
   47,434
   6.58
Net Assets
   18,823
   17,251
   9.11
Gross Income
    8,786
    7,583
  15.86
Interest Expenses
    3,536
    2,385
  48.26
Operating Expenses
    1,978
    1,657
  19.37
Profit before provisions & Taxation 
    3,272
    3,541
  (7.60)
Net Profit for the period
     2,202
     2,401
   (8.40)
NPA Coverage (includes Voluntary reserve)
      173%
      195%
  (11.28)
Basic Earnings per share (Baiza)
      26
      28
   (13.33)
Net Assets  per share (Baiza)
     221
     219
    0.90
 
  1. The Board of Directors recommended 8% cash dividend and 7% stock dividend for the year 2009.
 
The financial statements and dividend are subject to approval of the Central Bank of Oman and the shareholders in the AGM of the Company scheduled on 28th March 2010.
 
  1. The company signed a three year Management and Technical Agreement with the Arab Leasing Company Sudan. For the Technical and Management Agreement, Taageer would earn a fee income of US $ 800,000/- spread over three years, with US $ 500,000/- in the first year and US $ 150,000/- each in the second and third year.
 
                                                                       
Thanking you,
 
With best regards,
 
Sanjeev Kumar Chadha
Chief Executive Officer
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Jan 27, 2010   - 08:08 AM

OIFC posts a Net Profit of RO. 2.525 Million for Nine Months Period Ended 31.12.09
Company: OMAN INVESTMENT & FINANCE
Oman Investment & Finance Co. SAOG, at the Board Meeting held on January 26th, 2010 approved un-audited Financial Results for the nine months period ended 31.12.2009.  The net profit for the period ended 31.12.09 is RO. 2,524,625 compared to RO1,461,320 for the same period of the previous year recording an increase of 72.8 %. The detailed financials have been uploaded in the MSM website.
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Jan 27, 2010   - 05:55 PM

INITIAL UN-AUDITED FINANCIAL RESULTS FOR THE YEAR 2009
Company: TAGHLEEF INDUSTRIES COMPANY
 
Particulars
Un-Audited 2009
RO ‘000
Audited 2008
RO’000
Turnover/Revenue
29,154
25,006
Total Expenses
(29,313)
(24,477)
Profit(Loss) after Tax
(159)
529
 
Note: The above results are initial, unaudited and subject to the approval of Audit Committee/Board of Directors/Shareholders (AGM)
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Jan 27, 2010   - 05:45 PM

GULF PLASTIC INDUSTRIES CO. SAOG - (INITIAL ANNUAL UN-AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31/12/2009)
Company: GULF PLASTIC INDUSTRIES
Gulf Plastic Industries Co. (S.A.O.G)
 
 
We are pleased to submit the Initial Annual Un-audited Financial Results for the year ended 31st December 2009 as per Article 3 of the disclosure rules - Capital Market Authority.
 
 
 
 
For the year
For the year
 
Sl No.
Particulars
ended 31-12-2009
ended 31-12-2008
 
 
 
Unaudited &
Audited
 
 
 
Provisional
 
 
 
 
 (In R.O )
 (In R.O )
 
1
Total Revenue
3,200,446
4,132,062
 
2
Total Expenditure              
(2,967,943)
(3,943,719)
 
3
Operating Profit
232,503
188,343
 
4
Finance charges
(57,271)
(69,185)
 
5
Other Income
12,679
14,212
 
6
Net profit / (Loss)              
187,911
133,370
 
 
Notes :
1. These initial  results  are  based  on  the  Management's  assessment only &     
    are  subject to Audit  by  the  External  Auditors - Horwath Mak Ghazali LLC and
    the final result may differ with these initial results.
 
2. The comparative figures for the year 2008 are extracts from the audited results
    and have been regrouped / rearranged wherever considered necessary.
 
 
Gautam Datta
General Manager
Date : 27-01-2010
 
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Jan 27, 2010   - 03:23 PM

Initial Annual Un-audited Financial Results for year 2009
Company: DHOFAR POWER
We would like to bring to your kind notice that the initial annual un-audited financial results for the year ended 31-Dec-2009 are as follows:
 
 
2009
(Un-audited)
2008
Restated
 
RO
RO
Gross Revenue
42,060,648
41,919,440
Operating Cost
(31,798,104)
(32,654,104)
Net Profit
3,092,700
2,949,612
 
Please note that above results for the year ended 31-Dec-2009 are initial and un-audited.  The same is subject to audit and approval by the Board of Directors. 
We thank you for your continued support to our organization
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Jan 27, 2010   - 03:18 PM

Initial Annual Unaudited Financial Results 2009
Company: SWEETS OF OMAN
We are pleased to submit the Initial Annual Un-audited Financial Results for the year ended 31st December 2009 as per Article 3 of the New Disclosure Rules
Particulars
For the year ended 31.12.2009
In R.O.
For the year ended 31.12.2008 In R.O.
Total Revenues
7,079,161
5,991,826
Total Expenditure
6,156,310
5,481,337
Profit before tax
922,851
510,489
Provision for tax
107,142
62,588
Net Profit after tax
815,709
447,901
Please Note:
 
1.The above results represent initial un-audited financials and are subject to review and approval by Audit Committee, Board of Directors and Shareholders of Sweets of Oman SAOG.
 
2.The comparative figures for the year 2008 are extracts from the audited results.
 
S.Balakrishna,
General Manager 
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Jan 27, 2010   - 02:50 PM

Shell Oman Marketing Audited Financial Results for 2009
Company: SHELL OMAN MARKETING
Dividends
 
I write in regard to the Directors Meeting of the Company. The Board of Directors of Shell Oman Marketing Company SAOG passed the following resolution in their meeting held on 26 January 2010.
 
“That a first and final dividend of 120  baisa per share (Total : RO 12  million) be proposed in respect of the 2009 profits, payable to shareholders circa March 2010 following approval by the AGM”.
 
 
The extract from the 2009 audited financial statements is given below:
 
 
 
 
2009
2008
Growth %
Revenue
RO mln
298.4
326.4
(8.6)
Cost of Sales & Operating Income
RO mln
285.4
313.9
(9.1)
Net income after tax
RO mln
13.0
12.5
4.0
Final dividend
RO mln
12.0
11.5
4.3
Dividend per share
RO
0.120
0.115
4.3
 
 
For Shell Oman Marketing Company SAOG
 
 
Hong Zhou Wong
Finance Director
 
27 January 2010
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Jan 26, 2010   - 10:39 AM

First Mazoon Fund Daily NAV for the month of January 2010
Mutual Fund: THE FIRST MAZOON FUND
Date
NAV (in RO)
03-01-2010
1.183
04-01-2010
1.178
05-01-2010
1.187
06-01-2010
1.189
07-01-2010
1.198
10-01-2010
1.201
11-01-2010
1.199
12-01-2010
1.196
13-01-2010
1.190
14-01-2010
1.188
17-01-2010
1.187
18-01-2010
1.184
19-01-2010
1.182
20-01-2010
1.179
21-01-2010
1.175
24-01-2010
1.165
25-01-2010
1.172
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Jan 26, 2010   - 10:06 AM

Initial Annual Un-audited Financial Results for the year 2009
Company: SOHAR POWER
Initial Annual Un-audited Financial Results for the year 2009
 
 
2009 (RO’000)
2008 (RO’000)
Total Revenue
45,200
44,099
Total Expenses
47,498
39,809
(Loss) Profit
(2,298)
4,290
 
 
Please Note:
1.     The comparative for the year 2008 are extracts from the audited results.
2.     The un-audited results for the year ended 31 December 2009, summarized above, are subject to review and approval by Audit Committee, Board of Directors, Statutory auditors and share holders of Sohar Power.
3- The 2009 Total Expenses include {6,119} (RO'000) provision due to change in Tax Law in 2009.
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Jan 26, 2010   - 09:39 AM

(Tender 124/2009): EPC of New 11KV medium Speed D.G Set for Additional Generation in Khasab Power Station in Musandam Governorate
Company: OMAN NATIONAL ENGINEERING AND INVESTMENT COMP.
With great pleasure, I would like to inform our esteem shareholders & investors that Rural Areas Electricity Co. has awarded Oman National Engineering & Investment Company (SAOG) the contract for EPC of New 11KV medium Speed D.G Set for Additional Generation in Khasab Power Station in Musandam Governorate for the sum of RO 2,996,626.500 (Only Two Million Nine Hundred Ninety Six Thousand Six Hundred Twenty Six Omani Rials and Five Hundred Bisa). The company anticipates realization of reasonable profit margin.
 
 
 
 
 
Eng.  M. Amin Mustafa AL Saleh
Chief Executive Officer
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Jan 26, 2010   - 09:37 AM

(Tender 27/2009): Construction of Hasik New Power Station in Dohfar Governorate
Company: OMAN NATIONAL ENGINEERING AND INVESTMENT COMP.
With great pleasure, I would like to inform our esteem shareholders & investors that Rural Areas Electricity Co. has awarded Oman National Engineering & Investment Company (SAOG) the contract for Construction of Hasik New Power Station in Dohfar Governorate for the sum of RO 1,888,669.650 (Only One Million Eight Hundred Eighty Eight Thousand Six Hundred Sixty Nine Omani Rials and Six Hundred Fifty Bisa). The company anticipates realization of reasonable profit margin.
 
 
 
 
Eng.  M. Amin Mustafa AL Saleh
Chief Executive Officer
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Jan 26, 2010   - 09:25 AM

Preliminary Summary of un audited Financial Results for the year ended 31st December 2009
Company: GULF INT. CHEMICALS
In compliance with the regulatory requirements, Gulf International Chemical SAOG is pleased to report its preliminary summarized un audited results for the year ended 31st December 2009 as below:
 
 
31st December 2009                 RO
31st December 2008  RO
% Change
Total Revenue
6,114,741
6,566,261
(6.87)
Total Expenses
5,300,051
6,059,621
(12.53)
Net Profit Before Tax
814,690
506,640
60.80
Net Profit After Tax
711,990
440,140
61.76
Earnings Per Share  
                          0.034
0.024
41.66
Net Asset Per Share
                          0.125
0.122
2.46
Share Capital *
                2,100,000
1,800,000
16.66
 
* The Share Capital of the company was increased by issuing bonus shares of RO 200,000 w.e.f 27th March 2009 as approved by the AGM and RO 100,000 w.e.f 18th October 2009 as approved by the OGM.
 
 
Please note:
 
  1. Comparatives for the year 2008 are extracts from the audited results
 
  1. The summarized un audited results for the year 2009 are subject to review and approval by GIC’s Audit Committee, Board of Directors, Statutory Auditors and Shareholders.
 
 
Thanks and regards,
 
 
Mohamed Al Fadhil
Chief Executive Officer
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Jan 26, 2010   - 09:08 AM

MAJAN CAPITAL FUND JIA - DAILY NAV
Mutual Fund: MAJAN CAPITAL FUND JIA
Date              NAV
02.01.10      1.359 (Provisional & Unaudited)
03.01.10      1.385 (Provisional & Unaudited)
04.01.10      1.374 (Provisional & Unaudited)
05.01.10      1.386 (Provisional & Unaudited)
06.01.10      1.389 (Provisional & Unaudited)
07.01.10      1.408 (Provisional & Unaudited)
10.01.10      1.415 (Provisional & Unaudited)
11.01.10      1.418 (Provisional & Unaudited)
12.01.10      1.417 (Provisional & Unaudited)
13.01.10      1.408 (Provisional & Unaudited)
14.01.10      1.397 (Provisional & Unaudited)
17.01.10      1.397 (Provisional & Unaudited)
18.01.10      1.386 (Provisional & Unaudited)
19.01.10      1.383 (Provisional & Unaudited)
20.01.10       1.371 (Provisional & Unaudited)
21.01.10       1.362 (Provisional & Unaudited)
24.01.10        1.354(Provisional & Unaudited)
25.01.10        1.363(Provisional & Unaudited)
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Jan 26, 2010   - 09:00 AM

Al AMAL FUND JIA - DAILY NAV
Mutual Fund: FINCORP AL AMAL FUND
Date          NAV
03.01.10       1.556 (Provisional and Unaudited)
04.01.10       1.545 (Provisional and Unaudited)
05.01.10       1.558 (Provisional and Unaudited)
06.01.10       1.562 (Provisional and Unaudited)
07.01.10       1.583 (Provisional and Unaudited)
10.01.10       1.591 (Provisional and Unaudited)
11.01.10       1.594 (Provisional and Unaudited)
12.01.10       1.592 (Provisional and Unaudited)
13.01.10       1.583 (Provisional and Unaudited)
14.01.10       1.570 (Provisional and Unaudited)
17.01.10       1.570 (Provisional and Unaudited)
18.01.10       1.558 (Provisional and Unaudited)
19.01.10       1.554(Provisional and Unaudited)
20.01.10       1.541 (Provisional and Unaudited)
21.01.10       1.531 (Provisional and Unaudited)
24.01.10       1.521 (Provisional and Unaudited)
25.01.10       1.531(Provisional and Unaudited)
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Jan 26, 2010   - 08:10 PM

Unaudited Results for 2009
Company: AHLI BANK
 
 
AHLI BANK’S NET PROFIT AFTER TAX SOARS 44% IN 2009 TO RO 8.5MILLION
(Customer Deposits growth of 46% and Growth in Total Assets of 35%)
 
OMR Millions  
  31-Dec-08 31-Dec-09 Growth %

Equity

                               87                 93 7%

Loans and Advances

                             375               444 18%

Customers' Deposits

                             319               467 46%

Total Assets

                             456               616 35%

Net Operating Income

                          14.23            17.90 26%

Profit after Tax

                            5.93              8.54 44%
 
Ahli Bank, Oman’s fastest growing bank, has released its end of year results for 2009, subject to the Central Bank of Oman’s approval, which demonstrate that the bank is on a strong growth trajectory with a very satisfactory business and performance oriented Financial Year 2009.
 
H.E. Sayyid Khalid Hamad Hamood Al Busaidi, Chairman of Ahli Bank, said, “On behalf of the Board of Directors of Ahli Bank S.A.O.G., it gives me great pleasure to present the 2009 annual report and financial statement of Ahli Bank.  In a very challenging year, the bank has – through prudence, foresight and proactive financial management – delivered remarkable results.”
 
The financial highlights of the results show that the bank’s customer deposits have grown since 2008 by a staggering 46%, underlining the bank’s strategy to build a stable low cost deposit base.  Total assets grew by 35% under a new business model which has been managed with prudent risk management, undertaken in view of the prevailing global financial crisis.    The loan book of the bank has also grown by 18% and continues to be of a very high quality – reflected in the non-performing loans (NPL) ratio of 0.32% in 2009 .
 
Net Operating Income has increased year over year by over 26% to RO 17.90 million and the Operating Expenses have increased by over 3% to RO 7.92 million.  The bank was also delighted to report an increase of 44% in its net profits after tax to RO 8.54 million.
 
 
The bank also reported a rise in its Earning Per Share (EPS) for 2009 to Baizas 12.6 up from Baizas 8.7 during 2008.  The bank’s Board of Directors recommended a prudent 7% cash dividend and 5% bonus shares for the year 2009 in view of the current market condition and the early stage of the bank’s development.  Ahli Bank reported that its commitment to shareholders and the confidence it has in its ability to grow and enhance shareholders value remains stronger than ever.
 
Mr. Abdul Aziz Al Balushi, CEO of Ahli Bank commented, “Despite the impact of the international financial crisis, we expect the Omani economy to remain in positive territory for 2010 and at Ahli Bank we see potential banking opportunities arising for which a clear and wide-ranging strategy is being developed for the singular purpose of maximizing shareholder value.  We expect Ahli Bank to emerge as a strong participant in the banking sector in Oman.”
 
Ahli Bank has evolved year over year in an effective manner and the same is reflected in the strong performance in Fiscal 2009.  The bank’s business and financial model promotes leveraging established relationships; developing new ones with a sustainable revenue generation capacity and at the same time ensuring very high credit quality and service standards.
 
After thanking His Majesty Sultan Qaboos Bin Said and the government for creating such favourable conditions for the bank, the Chairman also expressed his gratitude to the Central Bank of Oman, Capital Market Authority and other regulatory authorities for their strong support and guidance.
 
Mr.  Abdul Aziz Al Balushi went on to say, “The current growth and unparalleled success is a direct outcome of the efforts of all Ahli Bank employees and I thank them for their hard work, solidarity and support.    I am confident that the skills and expertise of Ahli Bank’s talented staff will, once again, endeavour to deliver a robust performance during 2010 and that Ahli Bank will emerge as the “preferred” bank in Oman.”
 
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Jan 26, 2010   - 05:56 PM

Board of Directors of Bank Sohar approves 2009 annual results
Company: BANK SOHAR

26th January 2010

The Board of Directors of Bank Sohar approved today the Annual Results of the bank for the year 2009.  The results are subject to CBO approval.  These results have been uploaded on the MSM website and are also available for download from the bank's website.
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Jan 26, 2010   - 05:42 PM

Results for the year ended December 31, 2009
Company: OMAN ORIX LEASING
 
The Board of Directors of Oman ORIX Leasing Company SAOG in their Meeting held on January 26, 2010 had taken following decisions:
 
  1. Approved financial statements for the year ended December 31, 2009 as per details below:
        RO in ‘000
 
2009
2008
Net investment in leases
62,557
66,735
Total borrowings     
41,815
47,274
Net assets
18,031
16,028
Ne   Net lease income
3,908
4,457
Profit before provision and tax
2,636
3,264
Net profit for the year
2,003
2,437
Basic earnings per share (RO)
0.018
0.022
 
  1. Recommended a cash dividend of 8% and stock dividend of 22% subject to the shareholders and regulatory approvals.
 
  1. The financial statements for the year ended December 31, 2009 are subject to regulatory and shareholders’ approval. The AGM of the Company will be held on March 24, 2010.
 
Hira Lal Bharvani
 
Chief Executive Officer
 
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Jan 26, 2010   - 04:35 PM

Initial Annual Un-audited Financial Results for 2009
Company: UNITED POWER
Initial Annual Un-audited Financial Results for the year 2009
 
 
2009 (RO’000)
2008 (RO’000)
Total Revenue
13,477
13,376
Total Expenses
11,785
10,938
(Loss) Profit
1,692
2,438
 
 
Please Note:
1.     The comparative for the year 2008 are extracts from the audited results.
2.     The un-audited results for the year ended 31 December 2009, summarized above, are subject to review and approval by audit committee, Board of directors, Statutory auditors and share holders of UPC.
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Jan 26, 2010   - 02:41 PM

Initial Annual Unaudited Financial Results For The Year Ended 31/12/2009
Company: OMAN CEMENT

Particulars
 
Group
Parent Company
 
 
 
Unaudited
Audited
Unaudited
Audited
 
 
 
2009
2008
2009
2008
 
 
 
RO
RO
RO
RO
Total Revenue
 
          71,928,395
   66,725,641
   71,928,395
   66,657,989
Total Expenditure
 
         (44,591,252)
  (52,617,607)
  (44,591,252)
  (52,617,607)
Profit Before Tax
 
          27,337,143
   14,108,034
   27,337,143
   14,040,382
Provision For Income Tax
           (3,176,831)
    (1,567,435)
    (3,176,831)
    (1,567,435)
Net Profit After Tax
 
          24,160,312
   12,540,599
   24,160,312
   12,472,947
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note:
 
 
 
 
 
 
The above results are initial, unpublished and subject to the approval of statutory auditors, audit
committee and board of directors
 
 
 

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Jan 26, 2010   - 02:41 PM

Complaint against National Bank of Oman
Company: NATIONAL BANK OF OMAN
At the outset we would like to thank MSM for their letter dated 20 January 2010 concerning a complaint by Mr. Mohammed Zaman, a customer of the bank, in respect of a loan made to Mr. Zaman and his wife.
The bank takes very seriously any complaint from its customers.  In this case the matter has been fully reviewed and the substance of this complaint is fallacious and should be viewed in the context of a customer's apparent difficulties in complying with the conditions of, and repaying, a loan taken from the bank.
The customer is in breach of the covenants of the loan.  The bank's maximum exposure under the loan is RO. 5,800,000 and the bank has made provisions according to Central Bank of Oman requirements.  The bank's legal position is strong, it is taking all necessary steps to protect its position, and it expects to recover the loan.
The Capital Markets Authority and the Central Bank of Oman are aware of these matters on which the Central Bank of Oman has conducted an independent investigation.
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Jan 26, 2010   - 01:46 PM

Financial Results 2009
Company: NATIONAL BANK OF OMAN
To Our Esteemed Shareholders
 
Omani Economy
Oman experienced moderate economic growth in 2009 with estimated nominal GDP increasing by 3.7% in contrast to many other international and regional economies which declined sharply. In line with falling oil prices globally, the energy sector recorded a 37% decline and the non-oil sector posted moderate decline of 2.2% at current prices. The unprecedented volatility in global and regional financial markets has stabilized to an extent during 2009. The tightening of liquidity conditions and falling asset prices have also moderated as 2009 has progressed. Inflation has declined significantly from 12.4% in 2008 to 3.6% in the current year. Oman has been one of the best performing economies in the region through this crisis and the proactive measures taken by the Central Bank of Oman ensured the stability and robustness of the banking sector.
 
The budget for 2010 reflects the Government’s commitment to the Seventh Five Year Plan and allows for a broad range of activities. The budget focuses on sustainable and broad based economic development which should act as an enabler for financial services in 2010. Fiscal expenditure is forecast to increase by 12% to RO 7.2 billion with the major recipients being; defence, energy, education and healthcare and development projects. Development expenditure is vital in ensuring continued credit flow in the economy and local banking sector. The oil price forecasted at USD 50 per barrel looks achievable in current circumstances. A sustained drop below the budgeted price, although unlikely, could result in strategic reallocation and prioritization of the current projects.
 
 
Financial Performance
The bank achieved a net profit after tax of RO 26.1 million for the twelve months ended 31 December 2009 compared to RO 45.4 million for the same period in 2008. Notwithstanding very testing global market conditions, the Bank’s operating income was down only by 7% to RO 81.9 million compared to 2008, the latter reflecting a significant one-off gain on investment sales of RO 6 million. On a like for like basis operating income was broadly flat.
 
The Bank successfully grew its net interest income by 20% to RO 56.8 million from RO 47.5 million in the prior year period through focused balance sheet management. Net spreads have also improved to 3.24% in 2009 up from 3.08% in 2008 reflecting an improved return from existing assets.
 
Trade related activities and investment income were both lower than in the comparative period in 2008 and contributed to the decline in the ratio of non interest income to total income from 46% to 31% as a result of lower volumes of lending related fee income and investment related revenue which was largely attributable to factors associated with the global financial downturn. The cost to income ratio for the period increased to 42% from 38% in December 2009 mainly as a result of the decrease in non interest income and also as a consequence of a significant amount of investment in our business as we substantially increased our distribution footprint and rebranded the bank. The investment in our distribution network will deliver long-term benefits for the bank and its customers by bringing the bank closer to where our customers live and work.
 
Operating expenses increased by only 3% to RO 34.8 million compared with RO 33.9 million for the comparable period in 2008 despite opening 10 new branches and 29 new ATMs and rebranding our business.
 
The bank’s results for the twelve months ended 31 December 2009 have been negatively impacted by factors relating to the global economic crisis. We have taken impairment provisions against our investment portfolio of RO 4.1 million and provisions of RO 8 million against three specific bank exposures. Whilst the debt restructuring process for these banks is not yet complete, the bank has, on a prudent and conservative basis, now provided 100% against two of the three banks and 75% against the third.
 
During the twelve months ended 31 December 2009 , total net advances declined by RO 35 million in line with the bank’s approach to lend selectively and prudently and deposits declined by RO 81 million as a result of releasing certain high cost deposits no longer required to fund asset growth. However, savings deposits registered a significant growth of 26% when compared with year end 2008 which has helped to reduce the bank’s funding costs substantially and improve net interest margins.
 
The Board has recommended a cash dividend of RO 0. 0175 per share this year based on the dividend policy approved by the Board of Directors. The dividend payout of the Bank during the last five years is covered under the Corporate Governance report.
 
Capital
The regulatory capital of the bank now stands at RO 277 million returning a healthy BIS capital adequacy ratio of 16.47%. During the year the bank raised RO 11.5 million through a subordinated private placement to strengthen the Tier II capital.
 
Corporate Governance
In accordance with the directives of the Code of Corporate Governance promulgated by the Capital Market Authority, we continue to include a separate report on the Bank’s Corporate Governance duly certified by the statutory auditors within the Annual Report.
 
NBO’s commitment to Corporate Governance was recognized by receiving an award for the second year running by the Institute of Corporate Governance (Hawkamah) and the Union of Arab Banks (UAB). In winning this acclaimed award, NBO was placed ahead of competition from 30 banking peers in 11 countries across the region.
 
During the Annual General Meeting, the Board of Directors is recommending for Shareholders’ approval the re-appointment of Ernst and Young as the Statutory Auditors for the year 2010, in line with the directives of the Capital Market Authority. Changes to the composition of Board and changes in Senior Management during 2009 have been fully covered in the Corporate Governance report.
 
Corporate Social Responsibility
NBO incorporated CSR activities with the aim of integrating closely into the core business. Numerous partnerships were launched to further increase the loyalty to the bank’s Stakeholders. The new logo launched in 2009 reflects the bank’s national identity. More than just a change in identity, it signifies a new commitment and a new promise to our customers and community that is summed up in the new positioning statement: “For You. For our  Nation”.
 
Employees identify very closely with the brand as well as with NBO’s corporate social responsibility activities.
NBO’s strategy focuses on building long-term relationships with our Stakeholders in order to deliver the very best products and services to our Nation. We believe that corporate responsibility, built around the creation of employee satisfaction, customer excellence and brand loyalty, has a key role to sustain our social and business strategy.
 
NBO’s approach to setting in corporate responsibility management over recent years has helped us achieve competitive advantage. The sum total of our actions demonstrates our long-standing values and tells the story of NBO to our Nation. Our story is evolving as we work together with our Stakeholders. And our core skills direct us to a systems approach to CSR that challenges us to constantly seek out ways to channel our resources for greater impact.
 
The Bank is an active supporter of a series of innovative causes with emphasis on Civic, Health and Human Services, Arts, Sports and Culture, and Education. Through the Chairman’s Donation Committee, RO 100,000 was distributed to local charities throughout the Sultanate in 2008. In 2007 and 2008, NBO received the Corporate Social Responsibility Award in Oman by World Finance Magazine, UK.
 
The Year Ahead
2010 will continue to pose challenges in global, regional and local markets. It is possible that the global economy has avoided a prolonged recession but recovery is likely to remain weak and prone to further sharp corrections. However, given the significant progress that has been made globally to avoid a prolonged recession, we remain cautiously optimistic about prospects for 2010.
 
The Bank will continue to focus on leveraging its investment in its consumer banking business with a strong emphasis on its key domestic franchise. We will also seek to actively support domestic project financing by targeting quality assets. A number of projects continue to be undertaken in conjunction with its strategic partner, Commercialbank with the aim of driving efficiencies by sharing global best practices wherever possible.
 
Appreciation
The members of the Board of Directors join me in acknowledging and thanking our valued customers, correspondent banks and shareholders for the confidence they continue to maintain in the bank.
 
We thank their Excellencies, the Ministers and their officials for their continued support and encouragement. In particular, we express our appreciation to the Ministry of Finance, the Central Bank of Oman and the Capital Market Authority for their prudent supervision and guidance for our endeavors.
 
We thank the Bank’s management and staff for their dedication and commitment. Above all we pay tribute to His Majesty, Sultan Qaboos Bin Said, for his inspiring leadership and vision under whose wise guidance all of us in Oman will assuredly remain on the path towards continued successful development.
 
 
 
 
 
 
Omar Al Fardan
Chairman
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Jan 25, 2010   - 12:09 PM

Initial unaudited Result - AlKamil Power Company
Company: AL KAMIL POWER COMPANY
Pursuant to Article 3 of Rules and Guidelines on Disclosure by Issuer of Securities and Insider Trading issued by Capital Market Authority, Al Kamil Power Co SAOG is pleased to disclose the following annual unaudited financial results:
 

 
2009
2009
2008
2008
 
RO’000
US $’000
RO’000
US $’000 
 
 
 
 
 
Operating revenue
17,846
46,400
16,241
42,227
Operating costs
(13,091)
(34,037)
(11,536)
(29,997)
 
 
 
 
 
Gross profit
4,755
12,363
4,705
12,230
Administrative and general expenses
(330)
(859)
(331)
(861)
 
 
 
 
 
Profit from operations
4,425
11,504
4,374
11,369
Other income
20
52
40
103
Finance costs
(2,056)
(5,346)
(2,093)
(5,441)
 
 
 
 
 
Profit before tax
2,389
6,210
2,321
6,031
Deferred taxation
(287)
(745)
(278)
(723)
 
 
 
 
 
Net profit for the year
2,102
5,465
2,043
5,308
 
 
 
 
 

 
The above-reported numbers represent initial unaudited results and are subject to approval and confirmation by:
 
  1. Statutory auditors;
  2. Audit Committee and Board of Directors; and
  3. Shareholders of the Company.
 
 
 
 
Navneet Kasbekar
Chief Executive Officer
 
25 January 2010
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Jan 25, 2010   - 11:55 AM

woodcoating capacity expansion completed
Company: NAT. ALUMINIUM PRODUCTS
ANNOUNCEMENT
 
“National Aluminium Products Company, SAOG is  pleased to announce that the value added expansion of wood caoting capacity is successfully completed on 23rd January’2010.  The commercial production has commenced today.”
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Jan 25, 2010   - 10:36 AM

Initial Annual Unaudited Financial 2009
Company: MAJAN GLASS

 

Majan Glass Company S.A.O.G.
 
In compliance with Article (3) of Disclosure Rules issued by CMA by Administrative Decision No. 5/2007, the Management of the Company is pleased to disclose Initial Annual Un-audited Financial Results for the year ended 31st December 2009.
 
(R.O.)
(Amount in ‘000)

 

Particulars
2009 
2008
Change %
Total Sales or Revenue
10,765
10,804
(0.4)%
Total Expenses
7,208
8,516
(15.4)%
Profit before Taxation
3,557
2,288
55.5%
 
 
 
 
Provision for Taxation
423
283
49.5%
 
 
 
 
Net Profit after deduction of Tax
3,134
2,005
56.3%

 

 
Note :
 
  • Comparative figures for year 2008 are extracts from the audited results.
  • The above results are preliminary Initial, and Un-audited and subject to review and approval of Audit Committee, Board of Directors and Statutory auditors.
 
 
 
 
Anwar Ali Sultan
Chairman
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Jan 25, 2010   - 10:09 AM

EGM and OGM held on 24th January 2010
Company: SOHAR POULTRY
 
 
 
Sohar Poultry Company SAOG
 
Important decision taken at the EGM and OGM held on 24th January 2010.
 
I.                    Extraordinary General Meeting.
 
The Shareholders of the company approved the amendment proposal to the Articles of Association of the company.
 
II.                  Ordinary General Meeting.
 
The shareholders of the company resolved that, the following members were elected as Directors on the Board of Sohar Poultry Company SAOG.
 
S.No.
Name of the Directors
Representative of
Independent / Non- Independent
Shareholder / Non Shareholder
1.
Mr. Mohamad Ali Mohammad Said Al Habaj
Atyab Iffco Poultry LLC
Non -Independent
Shareholder
2.
Mr. Iqbal Usman
Self
Independent
Non-Shareholder
3.
Mr. Ajay Rampal
Self
Independent
Non-Shareholder
4.
Mr. Salim Huzafa Khairulla
Self
Independent
Non-Shareholder
5.
Mr. Arun Agrawala
Self
Independent
Non-Shareholder
6.
Mr. Satish sidana
Self
Independent
Non-Shareholder
 
 
 
David Postgate
General Manager.
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Jan 25, 2010   - 10:08 AM

Un-audited Financial Statement for the First Quarter as 31-12-2009
Company: OMAN EDUCATION & TRAINING INV.
Oman Education and Training Investment Company S.O.A.G is pleased to announce the shareholders that, the Board of Directors has approved the un-audited financial statement of the Company ( first quarter ) as 31-12-2009, on 24th  Jan 2010 and the same has been uploaded on the company website at Muscat Securities Market site.
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Jan 25, 2010   - 09:48 AM

Contract for Design, Supply, Engineering Manufacturing, Configuration, FAT and Transportation of H2s Stripper to M/s Arabian Industries LLC
Company: OMAN NATIONAL ENGINEERING AND INVESTMENT COMP.
With great pleasure, I would like to inform our esteem shareholders & investors that M/s Arabian Industries Co. LLC has awarded Oman National Engineering & Investment Company (SAOG) the Contract for Design, supply, Engineering Manufacturing, Configuration, FAT and Transportation of H2S Stripper to PDO for the sum of RO 187,800.000 (Only One Hundred Eighty Seven Thousand Eight Hundred Omani Rials). The company anticipates realization of reasonable profit margin.
 
 
 
 
Eng.  M. Amin Mustafa AL Saleh
Chief Executive Officer
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Jan 25, 2010   - 09:30 AM

INITIAL UN-AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2009
Mutual Fund: FINCORP AL AMAL FUND
In Compliance with the Disclosure Rules, kindly find the Initial Un-Audited Financial Results for the year 2009:
Particulars  
 

2009 (unaudited)

2008 (audited)
Income (Realized) (in R.O)                                935,323

                   341,573 
Expenses (in R.O)

                             (195,973)

                  (155,211) 
Net Profit / Loss for the year ended 31 December before Fair Value changes  (in R.O)                                739,350

                 186,362 
Unrealized Gain / Loss for the year  (in R.O)                                412,486

               (3,061,217) 
Net Profit / Loss for the year ended 31 December including Unrealized Gain / Loss (in R.O)                             1,151,836

             (2,874,855) 
Net Asset Value as on 31 December (in R.O)                             5,114,890

                 4,036,922 
Units Outstanding                             3,346,298

                 3,395,628 
Net Asset per unit (in R.O)                                    1.529

1.189
 
 
Please note that the above financials for 2009 are un-audited and subject to audit by the Statutory Auditors and approval of the Investor Committee Members and unitholders.
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Jan 25, 2010   - 09:27 AM

Results for the Year 2009
Company: BANK MUSCAT
Dear Shareholders,
 
I am glad to share with you the resilient results achieved by the Bank during 2009 against the backdrop of stimulus and rescue strategies, which set in motion a global economic recovery. The key business lines of the Bank weathered the challenging situation.
 
Oman’s Economy
The 44 per cent decline in average oil prices from $ 101.1 per barrel in 2008 to $ 56.7 in 2009 posed serious challenges, but the national economy countered the repercussions, registering a positive growth of 3.7 per cent at constant prices in 2009. Proactive measures by the Central Bank of Oman (CBO) helped the banking and financial sectors to tide over the crisis situation. In a clear indication of the economic recovery, commercial banks availed only $300 million out of a $2 billion support fund facilitated by CBO to help local banks. The Muscat Securities Market index closed the year at 6368.80 points, recording a healthy 17.05 per cent growth over the previous year.
 
Financial Overview
The Bank achieved a net profit of RO 73.7 million as against a net profit of RO 93.7 million reported in 2008. The Bank achieved an operating profit of RO. 208.9 million for the year ended 31 December 2009 as against an operating profit of RO. 152.6 million for the year ended 31 December 2008, an increase of 36.9%. During the year 2009, the Bank disposed off its investment in HDFC Bank, India and recognized a pre-tax profit of RO 60.5 million. Operating profit excluding the gain on HDFC Bank investment was marginally lower by 2.7% in 2009. This demonstrates that the Bank’s core business income during the year 2009 was strong and stable in spite of global financial crisis.
 
Net interest income increased by 7.6% from RO 162.1 million in 2008 to RO 174.4 million in 2009 supported by combination of asset growth and improvement in net interest margin. Non-interest income grew from RO 74.7 million in 2008 to RO 116.7 million in 2009 mainly on account of gain on sale of HDFC Bank investment during the year 2009. However, non-interest income excluding the gain on HDFC Bank investment was lower by RO. 18.5 million due to realized losses on Available-for-Sale investment and lower non-funded business in 2009. Operating expenses at RO 82.1 million in 2009 were lower by 2.5% than RO 84.2 million incurred in 2008 due to cost containment measures carried out by the Bank in 2009. The Cost to Income ratio excluding the gain on HDFC Bank investment for the year was at 35.6%, comparable to the ratio in 2008.
 
Impairment for credit losses on loans portfolio was RO 98.2 million during the year compared to RO 24.6 million for the year ended 31 December 2008.  The impairment charge of RO 98.2 million for the year 2009 was substantially higher as the Bank decided to consider full provision for certain large exposures in its overseas branch. During the year 2009, the Bank recovered RO 10.6 million from impairment for credit losses compared to RO 12.6 million in 2008. The Bank holds a non-specific loan loss provision of RO 53.6 million as at 31 December 2009 as per the requirements of Central Bank of Oman.
 
Share of loss from associates amounted to RO 10.4 million in 2009 as against share of loss of RO 3.2 million in 2008. Higher share of loss in 2009 was attributable to loss from BMI Bank in Bahrain due to higher impairment for credit losses, which included certain overseas credit exposures.
 
During the last quarter of 2009, the Bank advised non-participation in the rights issue of Silkbank, where it holds an approximate 35% stake. As a result of non-participation in the rights issue, the Bank’s stake in Silkbank is expected to be diluted to around 8.5% based on the proposed rights issue terms. As it is certain that the Bank is not participating in the rights issue and thereby substantially diluting its stake from an associate status to non-strategic available-for-sale investment, the Silkbank investment was marked-to-market in the Bank’s book as at 31 December 2009. This resulted in impairment losses of RO 20.3 million including the loss on depreciation of the Pakistan Rupee amounting to RO 9.6 million which was earlier adjusted in equity.
 
The Bank’s gross loans and advances portfolio grew by RO 199 million or 5.2% to RO 4,052 million as at 31 December 2009 compared to RO 3,853 million as at 31 December 2008. Customer deposits as at 31 December 2009 was RO 3,068 million as compared to RO 3,173 million as at 31 December 2008, reduced by RO 105 million due to decrease in term deposits as the Bank was mobilizing deposits through its Certificate of Deposits program. The Bank’s low cost deposits such as savings and demand deposits increased by 9.6% to reach RO 1,796 million as at 31 December 2009. Savings deposits had a growth of 6.1% from RO 768 million as at 31 December 2008 to RO 815 million as at 31 December 2009.
 
 
The return on average assets was at 1.2% in 2009 as compared to 1.8% in 2008.  The return on average equity was 10.8% in 2009 as compared to 14.8% in 2008. The basic earnings per share was RO 0.068 in 2009 as against RO 0.087 in 2008. The Bank’s capital adequacy ratio stood at 15.2 per cent as on 31 December 2009 against the minimum required level of 10 per cent.
 
The Board of Directors recommended a dividend of 45%, 20% in the form of cash and 25% in the form of stock. Thus shareholders would receive cash dividend of RO 0.020 per ordinary share of RO 0.100 each aggregating to RO 21.54 million on Bank’s existing share capital and stock dividend in the proportion of one share for every 4 ordinary shares. The proposed cash dividend and issuance of bonus shares are subject to formal approval of the Annual General Meeting of the shareholders and regulatory authorities.
 
The Year Ahead
The year 2010 marks a momentous occasion for the nation celebrating the 40th anniversary of the Blessed Renaissance. Commemorating the landmark year, the Bank has launched year-long celebrations with a unique campaign titled ‘Oman Celebrates’.
 
The Sultanate’s strategic economic policies are designed to make constant adjustments to changing situations. The anticipated increase of oil prices and favourable financial, economic and monetary policies augur well for the national economy which is expected to record a growth rate of 6.1 per cent at constant prices and 18.4 per cent at current prices in 2010.
 
In Conclusion
On behalf of the Board of Directors, I take this opportunity to thank the banking community, both in Oman and overseas, for the confidence reposed in the Bank. I would also like to thank and appreciate the Management Team and all our employees for their dedication and commitment to press ahead amid the challenging situation to reach higher levels of excellence.
 
The Board of Directors welcomes and supports the measures taken by the Central Bank of Oman and the Capital Market Authority to strengthen the financial market in the Sultanate. The foresight and market-friendly policies adopted by His Majesty’s Government have helped the Bank to record encouraging results.
 
The Board of Directors is deeply grateful to His Majesty Sultan Qaboos Bin Said for his vision and guidance, which steered the country along the path of growth and prosperity during the last 40 years.
 
AbdulMalik bin Abdullah Al Khalili
Chairman
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Jan 25, 2010   - 09:25 AM

INITIAL UN-AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2009
Mutual Fund: MAJAN CAPITAL FUND JIA
In Compliance with the Disclosure Rules, kindly find below the Initial Un-Audited Financial Results for the year 2009:
Particulars  
 

2009 (un-audited)

2008 audited
Total Income (in RO)                                   969,572

                             (1,655,546)
Total Expense (in RO)

                                (184,932)

                                (167,577)

Net Profit/Loss for the year ended 31 December (in RO)

                                  784,640

                             (1,823,123)

Net Asset Value as on 31 December (in RO)

                               3,639,492

                               2,859,879

Units Outstanding as on 31 December

                               2,676,727

                               2,680,347

NAV per unit (in R.O)

1.360

                                      1.067

 

 

 

Please note that the above financials are un-audited and subject to approval by the Investor Committee Members and the unitholders.
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Jan 25, 2010   - 08:44 AM

Al AMAL FUND JIA - DAILY NAV
Mutual Fund: FINCORP AL AMAL FUND
Date           NAV
03.01.10       1.556 (Provisional and Unaudited)
04.01.10       1.545 (Provisional and Unaudited)
05.01.10       1.558 (Provisional and Unaudited)
06.01.10       1.562 (Provisional and Unaudited)
07.01.10       1.583 (Provisional and Unaudited)
10.01.10       1.591 (Provisional and Unaudited)
11.01.10       1.594 (Provisional and Unaudited)
12.01.10       1.592 (Provisional and Unaudited)
13.01.10       1.583 (Provisional and Unaudited)
14.01.10       1.570 (Provisional and Unaudited)
17.01.10       1.570 (Provisional and Unaudited)
18.01.10       1.558 (Provisional and Unaudited)
19.01.10       1.554(Provisional and Unaudited)
20.01.10       1.541 (Provisional and Unaudited)
21.01.10       1.531 (Provisional and Unaudited)
24.01.10       1.521 (Provisional and Unaudited)
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Jan 25, 2010   - 08:07 AM

Initial Un-audited results for Q2 ended 31-12-2009
Company: OMAN FLOUR MILLS
 
 
Group
 
Parent Company
 
 
2009
 
2008
2009
 
2008
 
 
(Un-Audited)
(Un-Audited)
(Un-Audited)
(Un-Audited)