Thursday 25 / April / 2024
Muscat: Listed companies have a combined market capitalisation of OMR1.6 billion by the end of September 2016.
The total market capitalisation of the Muscat Securities Market stands at OMR17.3 billion, which include OMR8.8 billion constituted by joint stock companies and OMR6.4 billion of closed joint stock companies and OMR2.1 billion of bonds and sukuk.
The market capitalisation is the total capital of companies multiplied by the value of shares at the market.
Top three firms
Oman Telecommunications Company (Omantel) and Omani-Qatari Telecommunications Company (Ooredoo) are among the top three firms in terms of capitalisation of the MSM listed companies. They are also among the most traded companies; thanks to the stability of financial performance, the high investment yields and dividends.
Over the past nine months of 2016, the Muscat Securities Market has witnessed fluctuation in performance due to oil price drop and not optimistic views towards the global economy.
By the end of September 2016, Omantel’s market value dropped to OMR1.162 billion, a decline of OMR11.2 million compared to December 2015.
However, the company is still on top of the MSM listed companies in terms of market capitalisation. The market capitalisation of Ooredoo stood at OMR455.6 million, which is the third in MSM listed companies in terms of market capitalisation.
BankMuscat’s market capitalisation stood at about OMR1 billion by end-September 2016.
The market value of Ooredoo declined by OMR5.2 million during the first nine months of 2016 and its share price declined from OMR0.708 to OMR0.700. Omantel share also declined by OMR0.015 from OMR1.565 to RO1.550.
While Omantel’s capital stood at OMR75 million, the shareholders’ equity was at OMR526.2 million as of the end of June 2016. Ooredoo capital stood at OMR65.1 million and the shareholders’ equity was at OMR214.1 million as of the end of June 2016. The two companies enjoy stable financial conditions.
Omantel, which is 51 per cent owned by Oman government, has paid OMR49.4 million as royalties, annual license fees, taxes and other organisational fees last year.
Ooredoo has paid OMR24.7 million as royalties and distributed 40 per cent of its shares’ nominal value (40 baises per share) as cash dividend for 2015.
The two companies enhance the growth of the Omani economy by creating training and job opportunities. As of the end of 2015, the total number of employees at Omantel Group stood at 2,689 including 2,434 Omanis or 90.5 per cent of the total number of employees.
The cost of employees at Omantel last year stood at OMR70.5 million including OMR60.7 million as salaries and allowances, OMR5.2 million social insurance contributions and OMR3.7 million for other benefits. The total cost for employees at Ooredoo stood at OMR33.3 million in 2015 compared to OMR29 million in 2014.
