March 29, 2014
Muscat: The Shareholders of Taageer Finance Company (SAOG) approved the Audited Financials for the year ending December 2013 at the company's Annual General Meeting held on March 24, 2014 at the Muscat Intercontinental Hotel.
The AGM was presided over by the Chairman, Mehdi Mohammed Al Abduwani. The Shareholders also approved distribution of ten per cent cash dividend and seven per cent bonus shares for the year 2013.
It also approved a proposal to allocate OMR30,000 for the company's CSR initiatives in 2014.
The company registered a profit after tax of OMR3.924 million in 2013. The Net Leasing Portfolio has grown by 11 per cent from OMR92 million as on 31st December 2012 to OMR101.958 million on 31st December, 2013.
The company posted a basic earning of 17 baisas per share (EPS). The net worth of the company stood at OMR31.123 million at the end of December 2013.
The Board of Directors was of the view that the sound monitoring mechanism put in place by the regulators has helped the financial sector in the Sultanate of Oman to perform well. The Board thanked the customers, shareholders and staff for their contribution and support.
Considering the overall economic environment in Oman, the company is optimistic about its performance in 2014.
© Times of Oman 2014
