28 August 2016
Muscat - The Omani government's 51 per cent stake in the joint stock Oman Flour Mills Company SAOG (OFM) has been transferred to Oman Food Investment Holding Co SAOC (OFIC), a wholly government owned entity set up with a mandate to support the nation's food security objectives. The equity transfer was announced by Khamis bin Abdullah al Farsi, Chairman of the Board of Directors of Oman Flour Mills, in a report of the group's financial performance for the year ended June 30, 2016.
Muscat - The Omani government's 51 per cent stake in the joint stock Oman Flour Mills Company SAOG (OFM) has been transferred to Oman Food Investment Holding Co SAOC (OFIC), a wholly government owned entity set up with a mandate to support the nation's food security objectives. The equity transfer was announced by Khamis bin Abdullah al Farsi, Chairman of the Board of Directors of Oman Flour Mills, in a report of the group's financial performance for the year ended June 30, 2016.
"As part of the government's strategy to have all government investment in food companies under one holding company, in July 2016, the shares held by the government have been transferred to Oman Food Investment Holding Co SAOC, a 100 per cent government company," the Chairman stated. OFIC was established as a state-owned-enterprise (SOE) to help achieve the government's food security strategy, through partnerships with government agencies, private operators and investors. OFIC aims to boost Oman's food security and economic well-being by investing in domestic and international food projects in partnership with food companies, investors and other stakeholders.
© Oman Daily Observer 2016
