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01 January 03:50 PM

Sector News

The Punj Lloyd-led project is scheduled to be completed in three months from the award letter’s date.
12 February 2019 00:52 PM Oman’s Glafar wins $1.9m Fahud-Sohar pipeline contract
Mubasher: Omani construction contractor Galfar Engineering & Contracting announced that it has been awarded a contract for a pipeline project by India-based Punj Lloyd. The OMR 753,000 ($1.9 million) deal includes the construction of a 36.5 …
Companies Investments
Gulf Chlorine plant is 51% owned by Oman Chlorine
10 February 2019 01:00 PM Oman Chlorine opens new plant in Qatar
Mubasher: Oman Chlorine, listed on the Muscat Securities Market (MSM), announced the inauguration of its new plant in Qatar. The Omani firm started the commercial operation of its new plant, located in Mesaieed Industrial City in Qatar, in …
Companies Investments
Gulf Chlorine plant is 51% owned by Oman Chlorine
4 October 2018 04:14 PM Oman Chlorine starts production at Qatar plant
Mubasher: Oman Chlorine on Thursday announced that the trial of its chlorine plant in Qatar has started production. On Monday, 1 October, the trial production of Gulf Chlorine plant in Mesaieed Industrial City in Qatar has commenced with a …
Companies Investments
Galfar revenue fell to OMR 131.2 million in H1-18
30 August 2018 02:51 PM Galfar Engineering’s orders hit $1.2bn in H1-18
Mubasher: Galfar Engineering and Contracting has announced that its orders hit OMR 471 million ($1.2 billion) during the first quarter of 2018. Despite the strong order volume, the engineering firm posted a year-on-year decline in revenue and …
Financial Results
The new entity has the name “Galfar Oman General Contracting for Building
1 July 2018 00:27 PM Galfar Engineering registers One Person Company in Kuwait
Mubasher: Galfar Engineering has registered a One Person Company (OPC), which is 100% owned by Galfar Engineering and Contracting, according to a bourse statement on Sunday. The new entity has been registered under the name “Galfar Oman General …
Companies Investments
This selling transaction was concluded on Sunday, 25 March
26 March 2018 04:29 PM Kuwait’s Global exits stake in MSM-listed Al Jazeera Steel
Mubasher: Global Capital Management (GCM), the alternative asset management arm of Kuwait’s Global Investment House, has executed a successful exit of its controlling stake in Al Jazeera Steel Products Company, Omani company listed on Muscat …
Mergers and Acquisitions
The completion period of the project is around 365 days
6 September 2017 05:15 PM Galfar Engineering wins tender worth OMR 2.43m
Mubasher: Galfar Engineering and Contracting on Wednesday announced that it has been awarded a tender worth OMR 2.43 million ($6.29 million), according to a bourse statement. The tender includes the design, supply, and construction of a substation …
Companies Investments
The company would invest OMR 5.2 million in the project
27 August 2017 06:34 PM Oman Flour Mills’ subsidiary invests in soya crushing project
Mubasher: Atyab Investment LLC, a wholly-owned subsidiary of Oman Flour Mills (OFM), on Sunday announced that its board has approved a 40% shareholding in a soya crushing project, along with other investors. The company would invest OMR 5.2 …
Companies Investments
Oman Chlorine started commercially operating its Union Chlorine plant in the Abu Dhabi Industrial Zone
7 August 2017 00:08 PM Oman Chlorine plant starts commercial operations in Abu Dhabi
Mubasher: Oman Chlorine started commercially operating its Union Chlorine plant in the Abu Dhabi Industrial Zone, according to a bourse filing on Monday. The Union Chlorine plant, which works by a design capacity of 70 metric tonnes per day, …
Companies Investments
The transport ministry expected the project to reinforce urban expansion
18 July 2017 08:15 PM Galfar Engineering, transport ministry ink OMR 26m deal
Mubasher: Galfar Engineering and Contracting on Tuesday signed a contract with the Omani Ministry of Transport and Communication at a value of OMR 26.24 million. The company has been awarded a 14-month contract for essential works for traffic …
Company News
Raysut Cement’s stock inched down 0.8% to OMR 0.988 at the closing of Sunday’s trading session
16 July 2017 04:42 PM Raysut Cement’s Q2 profits drop 68%
Mubasher: Raysut Cement posted a 68.3% year-on-year decline in the second quarter of 2017. The Muscat-listed company achieved profits of OMR 1.53 million ($3.97 million) in Q2-17, compared to OMR 4.83 million ($12.5 million) in the corresponding …
Financial Results
Galfar Engineering's semi-annual profits retreated 98.89% reaching approximately OMR 6,000
16 July 2017 01:33 PM Galfar Engineering losses shrink 91% in Q2
Mubasher: Galfar Engineering and Contracting on Sunday reported narrowing its losses by 91.18% in the quarter ended 30 June, compared to the corresponding period of 2016. The Omani company’s losses amounted to OMR 60,000 ($155,180) in Q2-17, down …
Financial Results
Profits amounted OMR 486,090 in the second quarter of 2017
11 July 2017 11:41 PM Al Anwar Ceramic profits down 52% in Q2
Mubasher: Al Anwar Ceramic Tiles reported a decline in profits by 51.6% in the second quarter of the year, as per the company’s unaudited financial results. The company said in a statement to the Muscat Securities Market (MSM) on Tuesday, that …
Financial Results
Total revenues fell 35.3% in Q1-17
11 July 2017 01:58 PM Oman Cables Q2 profits plummet 51%
Mubasher: Oman Cables Industry (OCAI) on Tuesday reported a 51% drop in profits in the second quarter of 2017, compared to the same period the year before, according to a bourse statement. The Oman-listed company’s profits reached OMR 2.33 million …
Financial Results
Dhofar Poultry reported a 55.9% drop in profits in Q2-17
9 July 2017 01:29 PM Dhofar Poultry Q2 profits decline 56%
Mubasher: Dhofar Poultry on Sunday reported a 55.9% year-on-year drop in profits for the second quarter of 2017. The poultry company achieved a net profit after taxes of OMR 46,000 ($119,110), compared to OMR 104,330 ($270,150) in the same period …
Financial Results
Voltamp Energy denied social media reports claiming that the company is supplying Qatar with electric transformers.
20 June 2017 00:21 PM Voltamp Energy denies supplying Qatar with electric transformers
Mubasher: Oman’s Voltamp Energy denied social media reports claiming that the company is supplying Qatar with electric transformers. The Omani company said in a statement that the Qatari market is important, but that no negotiations or agreements …
Companies Investments
Oman Fisheries aims to gain experience from the Japanese company
14 June 2017 11:16 AM Oman Fisheries, Japan firm ink MoU to develop fishing fleet
Mubasher: Oman Fisheries Co signed a memorandum of understanding (MoU) with Japanese company Kyumura to develop the former’s fishing fleet through joint projects. The Omani firm aims to develop its commercial fishing of tuna fish and other high …
Management Decisions
Market cap lost 0.47% to reach OMR 17.9 billion
9 June 2017 02:32 PM MSM loses 81 pts in week
Mubasher: The main index of Muscat Securities Market (MSM) fell 1.48% or 80.64 points to reach 5,354.77 points in the week ended 8 June. The industry sector topped the losing sectors and levelled down 1.61%, followed by the financial and services …
Trading Activities
National Gas - Oman (Photo credit: Company website)
1 May 2016 10:24 AM Oman’s National Gas Q1 profits jump 126%
  Mubasher: National Gas – Oman on Sunday reported a group profit of OMR 932,500 ($2.41 million) for the first three months of 2015, up 125.6% from OMR 413,400 ($1.07 million) achieved in the same period last year. Total group income retreated …
Financial Results
Photo Credit: Arabianeye-Reuters
20 September 2015 00:07 PM Al Hassan Engineering wins $19m projects in Oman, UAE
  Mubasher: Al Hassan Engineering Co. said it was awarded two projects, one in Oman and one in Abu Dhabi, UAE, at a total of $19.25 million ($7.4 million). The company said it received a letter of award from Petroleum Development Oman (PDO) for …
Companies Investments
Photo Credit: Arabianeye-Reuters
16 September 2015 00:26 PM Oman Engineering nabs OMR 1.2m tender
  Mubasher: Oman National Engineering and Investment Company announced being awarded a contract for the construction of 33KV Feeder from Sumail Grid Station to Sumail Industrial Areas 1 & 2 Sub-Stations at Sumail Wallyat- Dakhlia Province. The …
Companies Investments
Photo Credit: Arabianeye-Reuters
20 August 2015 10:36 AM Oman’s Al Hassan bags $15m Dubai project
Mubasher: Al Hassan Engineering Co. announced that its 99%-owned subsidiary Al Hassan Engineering Co. Dubai LLC has been awarded a project worth AED 54.83 million ($15 million) by Siemens – Dubai. The project, to be implemented in the UAE, …
Company News
Photo Credit: Arabianeye-Reuters
11 August 2015 04:57 PM United Power cuts capital to OMR 2m
  Oman – Mubasher: United Power said its shareholders have approved a capital reduction from OMR 5 million to OMR 2 million with shares to be at a par value of OMR 1 per share, according to a filing to the Muscat Securities Market (MSM). This …
Corporate Actions
Photo Credit: Arabianeye-Reuters
11 August 2015 10:45 AM Oman’s Galfar Engineering H1 profits plunge 99.5%
  Oman – Mubasher: Galfar Engineering said its profits after taxes nosedived by around 99.5% to OMR 10,000 ($25,800) in the first half of 2015, compared to OMR 2.016 million ($5.215 million) in the same period of 2014, according to a filing to the …
Company News
Photo Credit: Arabianeye-Reuters
9 August 2015 01:05 PM Salalah Mills to expand with new OMR 4m plant
  Oman – Mubasher: Salalah Mills announced on Sunday that its board has approved the establishment of a polypropylene bags plant estimated at a cost of OMR 4 million. The new plant is expected to have a production capacity of 48 million bags per …
Company News