28 DEC 2014
03 NOV 2014
04 AUG 2014
04 MAY 2014
25 Mar 2014
06 Mar 2014
09 Feb 2014
22 Feb 2014
 
 
Appointment of Managing Director

We would like to inform you that the Board of Directors of Dhofar International Developments & Investment Holding Co. SAOG  in its meeting on Thursday 25/12/2014 has decided to appoint Mr. Tariq bin Abdulhafidh Salim Al Ujaili as Managing Director .

Unaudited Financial Results nine months ended 30th Sept 2014

In compliance with Disclosure of Financial Statements , Dhofar International Development & Investment Holding Co. SAOG is pleased to report the unaudited financial results for the period of nine months ended 30th September 2014 as under:

 

 

Parent

Consolidated

30/09/2014

RO

30/09/2013

RO

30/09/2014

RO

30/09/2013

RO

Total Revenue

10,916,895

7,841,740

4,706,808

3,324,479

Total Expenses

(3,120,739)

(2,612,816)

(4,239,702)

(3,855,925)

Share of profit from associates

-

-

10,984,827

+

14,645,224

Change in fair value of financial assets at fair value through profit & loss

1,393,316

1,624,575

1,466,439

1,696,937

Tax

-

(152,412)

-

(152,412)

Net profit 

9,189,472

6,701,087

12,918,372

15,658,303

Financial Position

30/09/2014

RO

31/12/2013

RO

30/09/2014

RO

31/12/2013

RO

Share Capital

22,000,000

20,000,000

22,000,000

20,000,000

Total Assets

271,502,123

251,300,413

223,445,024

215,869,346

Shareholders’ equity

162,352,959

139,270,279

108,180,451

97,729,392

Net assets per share

0.738

0.696

0.492

0.489

 

+   includes share of profit written back from legal case by Banking associate as at 30th September 2013 ( 2014 : Nil )

Note:-

These results are subject to review and approval by Audit Committee / Board of  Directors .After approval complete financial statements shall be upload at MSM / Company Website

Unaudited Financial Results six months ended 30th June 2014

In compliance with Disclosure of Financial Statements , Dhofar International Development & Investment Holding Co. SAOG is pleased to report the unaudited financial results for the period of six months ended 30th June 2014 as under:

 

 

Parent

Consolidated

30/06/2014

RO

30/06/2013

RO

30/06/2014

RO

30/06/2013

RO

Total Revenue

10,120,220

7,246,564

3,556,540

2,900,993

Total Expenses

(2,072,451)

(1,757,536)

(2,841,516)

(2,605,177)

Share of profit from associates

-

 

-

7,084,763

+

12,084,073

Change in fair value of financial assets at fair value through profit & loss

386,515

742,286

466,618

1,154,393

Net profit 

8,434,284

6,231,314

8,266,405

13,534,282

Financial Position

30/06/2014

RO

31/12/2013

RO

30/06/2014

RO

31/12/2013

RO

Share Capital

22,000,000

20,000,000

22,000,000

20,000,000

Total Assets

272,576,000

251,300,413

219,902,793

215,869,346

Shareholders’ equity

162,001,083

139,270,279

103,196,679

97,729,392

Net assets per share

0.736

0.696

0.469

0.489

 

+   includes share of profit written back from legal case by Banking associate as at 30 June 2013 ( 2014 : Nil )

Note:-

These results are subject to review and approval by Audit Committee / Board of  Directors .After approval complete financial statements shall be upload at MSM / Company Website

Unaudited Financial Results - Three months ended 31st March 2014

In compliance with Disclosure of Financial Statements , Dhofar International Development & Investment Holding Co. SAOG is pleased to report the unaudited financial results for the period of three months ended 31st March 2014 as under:

 

 

Parent

Consolidated

31/03/2014

RO

31/03/2013

RO

31/03/2014

RO

31/03/2013

RO

Total Revenue

7,279,960

6,515,103

2,072,146

2,077,812

Total Expenses

(1,033,596)

(892,990)

(1,426,884)

(1,312,297)

Share of profit from associates

-

 

-

3,905,284

+

9,523,263

Change in fair value of financial assets at fair value through profit & loss

85,884

1,044,238

108,983

1,109,293

Net profit 

6,332,248

6,666,351

4,659,529

11,389,071

Financial Position

31/03/2014

RO

31/12/2013

RO

31/03/2014

RO

31/12/2013

RO

Share Capital

22,000,000

20,000,000

22,000,000

20,000,000

Total Assets

260,026,638

251,300,413

221,921,127

215,869,346

Shareholders’ equity

143,594,170

139,270,279

99,366,178

97,729,392

Net assets per share

0.653

0.696

0.452

0.489

 

+   includes share of profit written back from legal case by Banking associate as at 31 March 2013 ( 2014 : Nil )

Note:-

These results are subject to review and approval by Audit Committee / Board of  Directors .After approval complete financial statements shall be upload at MSM / Company Website

Resolutions Passed in Extraordinary General Meeting and Ordinary Annual General Meeting
The following resolutions were passed in the Extraordinary General Meeting and the Ordinary Annual General Meeting held on Monday, 24th  March 2014 at 3.00 PM at Hamdan Plaza Hotel Salalah :
First: Extraordinary General Meeting:
1.      Approved the increase in authorized capital from RO. 20,000,000 to RO. 50,000,000 and accordingly amend the  articles of association.
2.      Approved the increase in issued capital from RO. 20,000,000 to RO. 22,000,000 and accordingly amend the  articles of association.
Second: Ordinary Annual General Meeting:
01.  Approved the Report of the Board of Directors for the financial year ended 31st   December 2013.
02.  Approved the Corporate Governance Report for the financial year ended 31st  December 2013.
03.  Approved the auditor report and the audited Financial Statements (Balance Sheet and Profit & Loss account)  for the year ended 31 December 2013.
04.  Approved the proposed cash dividend by 20% of the paid up capital  at the rate of 20 baizas per share (the share nominal value is 100 baizas).
05.  Approved the proposed stock dividend of 10% of the capital at the rate of 1 share for each 10 shares. As a result , the number of the shares will increase from 200,000,000 shares to 220,000,000 shares.
06.  Ratified the payment of sitting fees for the Board and Committees’ Meeting during the year 2013 and to determine the sitting fees for the financial year 2014.
07.  Approved the payment of Board Remuneration of RO.153,800/- for the financial year ended 31/12/2013.
08.  Approved the related party transactions entered during the financial year ended 31 December 2013.
09.  Approved the related party transactions to be entered during the current financial year ending 31 December 2014.
10.  Approved the donations paid to various charitable organizations during the financial year 2013 .
11.  Approved the proposal to authorize the Board to set aside RO 100,000 to be paid to charitable organizations during the financial year 2014.
12.  Appointed Ernst & Young (EY) as external auditor for the financial year ending 31st  December 2014 and approved their fees.

Invitation to attend Extraordinary General Meeting and Ordinary Annual General Meeting
The Board of Directors of Dhofar International Development & Investment Holding SAOG is pleased to invite all shareholders of the Company to attend the Extraordinary General Meeting and the Annual Ordinary General Meeting scheduled to be held at 3.00 PM on Monday, 24th  March 2014 at Hamdan Plaza Hotel Salalah to consider the following agenda:
First: Extraordinary General Meeting:
1.       To consider and approve the proposal to increase authorized capital from RO. 20,000,000 to RO. 50,000,000 and accordingly amend the  articles of association.
2.       To consider and approve the proposal to increase issued capital from RO. 20,000,000 to RO. 21,860,481 by transfer an  amount of RO. 1,860,481 of share premium and accordingly amend the  articles of association. (pursuant to attached appendix)
Second: Ordinary Annual General Meeting:
 
01.    To consider and approve the Report of the Board of Directors for the financial year ended 31st   December 2013.
02.    To consider and approve the Corporate Governance Report for the financial year ended 31st  December 2013.
03.    To consider the Auditors’ Report and approve the Financial Statements (Balance Sheet and Profit & Loss account)  for the year ended 31 December 2013.
04.    To consider and approve the proposed cash dividend by 20.6976% of the paid up capital  at the rate of 20.6976 baizas per share (the share nominal value is 100 baizas).
05.    To consider and approve the proposed stock dividend by 9.3024% of the capital at the rate of 9.3024 shares for each 100 shares. Resultant of foregoing spread, the number of the company capital’s shares will increase from 200,000,000 shares to 218,604,810 shares.
06.    To ratify the payment of sitting fees for the Board and Committees’ Meeting during the year 2013 and to determine the sitting fees for the financial year 2014(pursuant to attached).
07.    To approve the payment of Board Remuneration of RO.153,800/- for the financial year ended 31/12/2013.
08.    To notify the shareholders with related party transactions entered during the financial year ended 31 December 2013 (pursuant to attached).
09.    To approve the related party transactions to be entered during the current financial year ending 31 December 2014 (pursuant to attached).
10.    To notify the AGM with the donations paid to various charitable organizations during the financial year 2013  (pursuant to attached).
11.    To consider the proposal to authorize the Board to set aside RO 100,000 to be paid to charitable organizations during the financial year 2014.
12.    To appoint Auditors for the financial year ending 31st  December 2014 and determine their fees.
 
In accordance with the Company's Articles of Association and amendments thereto, any shareholders is entitled to authorize any other person to attend the meeting and vote , provided that the authorization should be done on the proxy issued by Muscat Clearing & Depository Co. attached to the notice. Any natural person should attach his ID Card for the adult, or a copy of Passport for the ladies and minors, or a residence cards and passport for the non- Omanis. The proxy should be signed by one of the authorized signatories and carry the company's stamp with a copy of the commercial registration and the specimen of the authorized signatures.
To prevent delay in starting the meeting shareholders are requested to arrive about half an hour before the scheduled meeting time.
 
For further information please contact the administrative manager on telephone number 23295400. 
Notice: Joint stock companies must deposit the dividend amount due to investors that remains uncollected after the expiry of six months from the due date, into the Investors’ Trust Fund. Please note that each shareholder must contact the Muscat Clearing & Depository Company SAOC for any enquiry in respect of any such amounts due to him.
 
    
Chairman                                         Auditors                                 Legal Advisor

INITIAL ANNUAL UNAUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st DECEMBER 2013.
INITIAL ANNUAL UNAUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st DECEMBER 2013.
 
In compliance with Articles (3) of Disclosure of Financial Statements. Dhofar International Development & Investment Holding SAOG is pleased to report its initial unaudited financial results for the year ended 31st December 2013 as under:
 
 
Parent     R.O
Consolidated     R.O
Unaudited
2013
Audited
2012
Unaudited
2013
Audited 2012
Total Income
10,486,426
5,182,004
24,551,440
15,348,921
Total Expenses
(3,701,199)
(3,632,944)
(5,385,488)
(4,173,051)
Impairment of available for sale financial assets
----
(106,591)
---
(106,591)
Income Tax
(177,562)
---
(177,562)
---
Net profit for the year
6,607,665
1,442,469
18,988,390
11,069,279
Minority interest
----
----
47,293
12,273
Profit attributable to equity holders of Parent Company
6,607,665
1,442,469
19,035,683
11,081,552
Total Assets
251,300,413
208,194,249
216,607,370
174,737,977
Net assets per share
0.696
0.616
0.492
0.417
Basic earning per share
0.033
0.007
0.095
0.055
 
NOTE :
1-      Comparatives for 2012 are extracts from the audited results.
2-      Group results incorporate the unaudited results of subsidiaries and associates . These results are subject to subsidiaries and associates Boards’ and in certain case the regulator’s approval.
3-      Audited Group and Parent Company financial statements will be submitted in compliance with the current regulations.
These results are subject to audit by the Company’s external statutory auditors and review by DIDIH’S Audit Committee , Board of Directors and approval of Shareholders in AGM scheduled to be held 24th March 2014.

Approval of audited financial statements and Proposed dividend for 2013
The Board of Directors of Dhofar International Development &Investment Holding SAOG (DIDIH) in their meeting held at 12.30 PM on Saturday 22nd  February , 2014 , approved the audited financial statements for the year 2013 .
We give blew the significant indices of the audited financial results:
 
Parent     R.O
Consolidated     R.O
2013
2012
2013
2012
Net profit for the year after tax
6,607,665
1,442,469
18,819,880
11,069,279
Minority interest
----
----
47,293
12,273
Profit attributable to equity holders of Parent Company
6,607,665
1,442,469
18,867,173
11,081,552
Total Assets
251,300,413
208,194,249
215,869,346
174,737,977
Net assets per share
0.696
0.616
0.489
0.417
Basic earning per share
0.033
0.007
0.094
0.055
The Board also recommended a dividend of 30% of the Paid –up Capital for the year ended 31st December 2013 comprising 20.6976% cash and 9.3024% stock dividend out of share premium subject to the approval of shareholders at the EGM and AGM to be held on Monday 24th March , 2014 .