10 Jul 2018
28 May 2018
11 Apr 2018
28 Mar 2018
28 Mar 2018
11 Mar 2018
8 Mar 2018
15 Jan 2018
 
 
Initial Unaudited Results for sex months ended 30 June 2018

Net loss for the period of six months ended 30th June 2018 is RO (27,053,736) , compared to net profit RO 3,908,545 for the same period ending 30 June 2017. For more information please check the attachment.

No effect of climatic conditions & Mekunu cyclone

No effect of climatic conditions & Mekunu cyclone

We would like to inform the shareholders and investors that Dhofar International Development & Investment Holding Co. SAOG (DIDI) has no effect of climatic conditions and Mekunu cyclone during the previous days

 

Regards

Initial Unaudited Results - For Three months ended 31st March 2018

Initial Unaudited Results - For Three months ended 31st  March 2018

In compliance with Disclosure of Financial Statements , Dhofar International Development & Investment Holding Co. SAOG is pleased to report its Initial  unaudited financial results for the period of three months ended 31st March 2018 as under:

 

31/03/2018

31/03/2017

Restated **

As Reported

RO

RO

RO

Total Income

9,963,082

9,928,935

1,285,295

Total Expenses

(1,841,468)

(1,514,677)

(1,514,680)

Realized Profit / (Loss)

8,121,614

8,414,258

(229,385)

Unrealized gain / (loss) on financial assets at fair value through profit and loss

(6,035,197)

2,776,199

(1,485,961)

Share of profit from associates / subsidiaries

-

-

3,574,801

Net Profit for the period

2,086,417

11,190,457

1,859,455

 

Note:-

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

 

** The company has opted for " Early Adoption of IFRS-09" and change its status to "Investment Entity" as per IFRS-10

Resolution of the first meeting of the new Board of Directors held on 27th March 2018

Resolution of the first meeting of the new Board of Directors

held on 27th March 2018

 

After the AGM of Dhofar International Development & Investment Holding Co SAOG held on 27th March 2018, the new Board of Directors held its initial meeting and agreed as under :-

 

1-      chairman and vice chairman :-

Sheikh Khalid bin Mustahail  Ahmed Al Mashani

Chairman

Mr. Tariq bin Abdulhafidh  Salim Al Ujaili

Vice chairman

2-      Audit Committee :-

Ahmed Bin Mohammed Salim Al Kaf 

Chairman

   

Sheikh Hamood bin Mustahail  Ahmed Al Mashani

Member

Mr. Omar bin Ahmed Abdullah Al Shaikh

Member

3-     Executive, Nomination and Remuneration Committee (ENRC):-

Sheikh Khalid bin Mustahail  Ahmed Al Mashani

Chairman

Mr. Tariq bin Abdulhafidh  Salim Al Ujaili

Member

Mr. Salim bin Abdullah Faraj Al Awadi

Member

Mr. Faisal bin Mohamed Moosa Al  Yousef

Member

4- The Board has also appointed Mr. Jamal Kamel Rasheed  as Company secretary and other Board's Committees .

Resolutions Passed in Extraordinary General Meeting and Ordinary Annual General Meeting

Resolutions Passed in Extraordinary General Meeting and Ordinary Annual General Meeting

The following resolutions were passed in the Extraordinary General Meeting and the Annual Ordinary General Meeting held on Tuesday, 27th  March 2018 at 5.00 PM at Hamdan Plaza Hotel Salalah :

 

First: the extraordinary general meeting:-

 

1

Approved the renewal of the authorized capital of R.O 50,000,000 .

2

Approved the amendment of some items of the Articles of Association the company.

 

Second: the annual ordinary general meeting:-

1

Approved the Report of the Board of Directors for the financial year ended  31st    December 2017.

2

Approved the report of measurement of the performance of board of directors for the year ended 31st    December 2017.

3

Approved the Corporate Governance Report for the financial year ended  31st December 2017.

4

Approved the auditor’s  report and the audited Financial Statements  for the year ended  31st  December 2017

5

Approved the proposed cash dividend of 15% of the paid up capital at the rate of 15 baizas per share (the share nominal value is 100 baizas).

6

Ratified the payment of sitting fees for the Board and Committees’ Meetings during the year 2017 and ratified the determination of the sitting fees for the financial year 2018.

7

Approved the related party transactions entered during the financial year ended 31st  December 2017.

8

Approved the related party transactions to be entered during the current financial year ending 31st December 2018.

9

Approved the donations paid to Corporate Social Responsibility during the financial year 2017.

10

Approved the proposal to authorize the Board to set aside RO 100,000 to be paid to Corporate Social Responsibility during the financial year 2018.

11

A new members of board of directors have been elected #

12

Appointed PricewaterhouseCoopers (PWC) as an external auditor for the financial year ending 31st  December 2018 and approved their fees.

13

Approved the standards of measurement of the performance of board of directors.

14

Approved the appointment of the (Experts office) as an independent party for the purpose of measurement of the performance of board of directors for the year 2018 and approved their fees.

 

 

 

 

 

        #  New members of Board of Directors :-

1

Khalid Bin Mustahail Ahmed Al Mashani

2

Tariq Bin Abdul Hafidh Salim Al Ujaili 

3

Ahmed Bin Mohammed Salim Al Kaf 

4

Hamood Bin Mustahail Ahmed Al Mashani

5

Salim Bin Abdullah Faraj Al Awadi

6

Omar Bin Ahmed Abdullah Mahfodh Al Sheik

7

Faisal Bin Mohamed Moosa Al Yousef

 

Invitation to Attend the Extraordinary General Meeting & Annual General Meeting

Invitation to Attend the Extraordinary General Meeting & 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 & Annual General Meeting which scheduled to be held at 5.00 PM on Tuesday , 27th  March 2018 at Hamdan Plaza Hotel Salalah to consider the following agenda:

First : The Extraordinary General Meeting:

01 . To approve the renewal of the authorized capital to RO 50,000,000.

02.  To approve the amendments in the Memorandum and Articles of Association of the company.

Second : The Annual General Meeting

 

  1. To consider and approve the Report of the Board of Directors for the financial year ended 31st   December 2017.
  2. To approve the report of the evaluate the performance of the Board of Directors for the year ended  31st December 2017.
  3. To consider and approve the Corporate Governance Report for the financial year ended 31st  December 2017.
  4. To consider the Auditors’ Report and approve the Financial Statements (Financial Position Statement & comprehensive Income Statement)  for the year ended 31 December 2017.
  5. To consider and approve a proposal of 15% cash dividend of the paid up capital  at the rate of 15 baizas per share (the share nominal value is 100 baizas).
  6. To ratify the payment of sitting fees for Board and Committees’ Meetings during the year 2017 and to determine the sitting fees for the financial year 2018.
  7. To notify the shareholders with related party transactions entered during the financial year ended by 31 December 2017 .
  8. To approve the related party transactions to be entered during the financial year ending on 31 December 2018 .
  9. To notify the AGM with the donations paid for Corporate Social Responsibility during the financial year 2017 .
  10. To consider the proposal to authorize the Board to set aside RO 100,000 to be paid for Corporate Social Responsibility during the financial year 2018.
  11. To elect new Members of the Board from amongst shareholders or non-shareholders. Any person who wishes to be nominated to the Board of Directors of the Company is required to fill in a Director’s Nomination Form. Such a form can be obtained from the Company. The completed Form should be submitted to the Company at least two working days prior to the date of the AGM of the Company (by the end of working hours on Thursday 22th March 2018). The Company will not accept any application received after this date. If the candidate from shareholders, he should own a number of shares not less than (50,000) shares at the date of the AGM in accordance with company’s Articles of Association.
  12. To appoint Auditors for the financial year ending on 31st  December 2018 and fix their fees.
  13. To approve criteria for appraising the board of directors performance.
  14. To appoint an independent firm to evaluate the performance of Board of Directors during the financial year ended 31st December 2018, and fix their remuneration.

 

To Pursuant to the Company’s Articles of Association, every shareholder has the right to authorize in writing any other person to attend the meeting and vote on the decisions taken on his behalf provided that such authorization should be on the authorization card issued from Muscat Clearing and Depository Co., attached with the invitation. If the authorized person is Omani citizen , he should attach copy of his ID with the authorization letter for the adults and passport for ladies and minors who do not have ID, residence card or passport for non-Omani. For legal entities the proxy form should be stamped and signed by an authorized signatory of the legal entity and the commercial registration and list of authorized signatories should be attached along with proxy form

   

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 Manager Administration on telephone number 23295400.

 

Important Resolutions of Board of Directors

Important Resolutions of Board of Directors

The board of directors in its meeting held on 7 March 2018 has approved the followings:

1-      The audited financial statements of the Company for the year ended 31 December 2017.

2-      Recommendation of distribution of cash dividend of 15% (15 baizes per share ) of the paid up capital to the shareholders who are registered in the company’s register with Muscat Clearing and Depository Co. on the date of the Ordinary General Meeting.

3-      The Extraordinary General Meeting and Annual Ordinary General Meeting to be held on Tuesday 27 March 2018.

 

Initial Unaudited Results- year ended 31 December 2017

 

nitial Unaudited Results- year ended 31 December 2017

In compliance with Disclosure of Financial Statements , Dhofar International Development & Investment Holding Co. SAOG  is pleased to report its initial unaudited financial results for the year ended 31st December 2017 as under :-

 

Un- Audited

31/12/2017

RO

Audited

31/12/2016

RO

Total Income

10,873,493

12,574,054

Total Expenses

(6,022,066)

(5,461,808)

Realized Profit /(loss)

4,851,427

7,112,246

Unrealized gain /(loss) on financial assets at fair value through profit and loss

(3,731,163)

 

6,325,623

Fair value adjustment  of subsidiaries as per IFRS-10

-

(2,983,506)

Net profit for the year before tax

1,120,264

10,454,363

Income tax

(92,193)

(348,937)

Net profit after Tax

1,028,071

10,105,426

 

Note

1- These initial unaudited results are subject to statutory audit , review and approval by Audit Committee / Board of Directors . After approval complete financial statements shall be uploaded at MSM / Company's Website .

2- The profit for the year may change subject to finalization of valuation of some investments as per "IFRS-13 Fair value Measurement" .

3-  The company has opted for " Early Adoption of IFRS-9" and changed its status to "Investment Entity " as per IFRS-10 effective from 1 January 2016.