Muscat bourse resumes trading of Galfar shares

Muscat: Muscat bourse on Wednesday resumed trading of Galfar Engineering and Contracting Company’s shares, after the company posted a detailed disclosure statement on the Muscat Securities Market on its compensation from Oman Wastewater Services Company (Haya Water).
“We would like to correct the record that the total amount awarded is OMR3,588,180 (inclusive an award for arbitration costs) and not OMR3,636,311 as revealed in our aforementioned disclosure,” Galfar said in a disclosure statement on Wednesday.
“For clarification, the amount of OMR3,479,849 was awarded against our claims of OMR3,881,464 and this award is in line with the amount already taken in receivables. The remaining disputes are currently under arbitration in separate proceedings,” added the statement.
The Muscat Securities Market has been taking stringent action against companies for lack of disclosure information regarding various corporate dealings, including compensation and other corporate dealings.