02 March 2009
MUSCAT -- Salalah Mills Company has announced a net profit of RO 1.682 million for the parent company and a net profit of RO 1.501 for the group for the 2008 financial year. The company's Board of Directors, which met recently, also decided to approve an increase of the authorised capital from RO 7 million to RO 10 million.
MUSCAT -- Salalah Mills Company has announced a net profit of RO 1.682 million for the parent company and a net profit of RO 1.501 for the group for the 2008 financial year. The company's Board of Directors, which met recently, also decided to approve an increase of the authorised capital from RO 7 million to RO 10 million.
The nominal value of shares will be divided from RO 1 to RO 0.100, so that each shareholder will get 10 shares for every share he owns. Additionally, the Board agreed to postpone the increase in the paid capital through rights issue "due to the financial crisis and the MSM circumstances". Further, it decided to launch the first phase of the expansion of production and wheat storage capacity through the addition of a new combined mill for the production of semolina and flour.
© Oman Daily Observer 2009
