20 February 2012
Muscat: National Gas Company is negotiating the acquisition of a controlling interest in an LPG bottling and distribution business in South East Asia from an international petroleum company. The business is a going concern with an existing customer base, the Company said in a statement posted on MSM website. Presently, the Company intends to route the acquisition of the business through wholly owned subsidiaries it proposes to establish outside Oman.
Presently, the company is only able to make a limited disclosure as the company is subject to the terms of a non-disclosure agreement entered into with the seller. However, the company will make a more detailed disclosure as soon as it is in a position to do so.
Meanwhile, National Gas group's net profit moved up to RO1.29 million for 2011, from RO856,972 for the previous year. Total income was also higher at RO19.06 million, compared to RO12.68 million. The company's earnings per share touched 52 basias by end-December 2011, from 34 baisas fro the same period of 2010.
The board recommended a cash dividend of 40 per cent, which is subject to the approval of shareholders.
Muscat: National Gas Company is negotiating the acquisition of a controlling interest in an LPG bottling and distribution business in South East Asia from an international petroleum company. The business is a going concern with an existing customer base, the Company said in a statement posted on MSM website. Presently, the Company intends to route the acquisition of the business through wholly owned subsidiaries it proposes to establish outside Oman.
Presently, the company is only able to make a limited disclosure as the company is subject to the terms of a non-disclosure agreement entered into with the seller. However, the company will make a more detailed disclosure as soon as it is in a position to do so.
Meanwhile, National Gas group's net profit moved up to RO1.29 million for 2011, from RO856,972 for the previous year. Total income was also higher at RO19.06 million, compared to RO12.68 million. The company's earnings per share touched 52 basias by end-December 2011, from 34 baisas fro the same period of 2010.
The board recommended a cash dividend of 40 per cent, which is subject to the approval of shareholders.
© Times of Oman 2012
