03 April 2017
Muscat: At the annual general meeting held last week, the shareholders of Muscat Finance approved the accounts for 2016, and also approved a cash dividend of 10 per cent and a stock dividend of 7 per cent, on capital of OMR26.67 million.
Muscat Finance, the pioneer in auto financing, consumer durable financing, equipment leasing, working capital financing and debt factoring services, reported yet another year of improvements in profits and uninterrupted dividends.
The stock dividend will increase Muscat Finance’s capital to OMR28.54 million. In 2016, the company registered growth of 20 per cent in their net profit and maintained their track record of successful operations over the last 29 years.
The company's board of directors were also elected during the March 28 meeting. The board members are Faisal Mohamed Al Yousef, chairman, Pramod Kumar Hiran, deputy chairman, Abdul Amir Saied Mohammed, Sameer Kumar, Babu P. Thomas, Gamal Mohamed Mohamed Ahmed Abdalla, Chandrahasan Thozhukkat and Yousef Al Yousef.
Muscat Finance offers a wide range of products, mainly financing for cars, heavy equipment, financing of receivables, consumer durable and working capital. With the government’s priorities in mind, the company has been focusing on developing its business with small and medium enterprises. The company has an extensive network of branches. Apart from the head office in Muscat (Al Khuwair), the company serves its clientele through its full-fledged branch offices in Barka, Sohar, Sur, Salalah, Ibri and Nizwa.
Muscat: At the annual general meeting held last week, the shareholders of Muscat Finance approved the accounts for 2016, and also approved a cash dividend of 10 per cent and a stock dividend of 7 per cent, on capital of OMR26.67 million.
Muscat Finance, the pioneer in auto financing, consumer durable financing, equipment leasing, working capital financing and debt factoring services, reported yet another year of improvements in profits and uninterrupted dividends.
The stock dividend will increase Muscat Finance’s capital to OMR28.54 million. In 2016, the company registered growth of 20 per cent in their net profit and maintained their track record of successful operations over the last 29 years.
The company's board of directors were also elected during the March 28 meeting. The board members are Faisal Mohamed Al Yousef, chairman, Pramod Kumar Hiran, deputy chairman, Abdul Amir Saied Mohammed, Sameer Kumar, Babu P. Thomas, Gamal Mohamed Mohamed Ahmed Abdalla, Chandrahasan Thozhukkat and Yousef Al Yousef.
Muscat Finance offers a wide range of products, mainly financing for cars, heavy equipment, financing of receivables, consumer durable and working capital. With the government’s priorities in mind, the company has been focusing on developing its business with small and medium enterprises. The company has an extensive network of branches. Apart from the head office in Muscat (Al Khuwair), the company serves its clientele through its full-fledged branch offices in Barka, Sohar, Sur, Salalah, Ibri and Nizwa.
© Times of Oman 2017
