Waleed Al-Bawardi, director of cash and markets at Tadawul, said that during 2011 only four family companies had been converted into joint stock companies
We might add a few disadvantages of joint stock companies
Khalid bin Khamis al Masroori, director of commercial establishments control department at the Ministry of Commerce and Industry, said that total number of registered Omani joint stock companies
increased to 386 at the end of June 2018 with issued capital amounting to RO8.45bn.
The total market capitalization of the joint stock companies
by the end of September 2018 stood at RO7.5 billion compared to RO8.1 billion by the end of last year; a loss of more than RO655.6 million.
SCA, in a statement, said the total number of local companies which declared their financial statements for the first half of the year ending 30 June 2013 has reached 117 companies (or 98.32 per cent) out of 119 local public joint stock companies
listed on securities markets of the country.
Muscat: The Capital Market Authority (CMA) has urged all joint stock companies
and investment funds to activate the Oman Social Responsibility Initiative, which was launched by CMA on November 2, 2009.
The joint stock companies
will have to meet certain criteria pertaining to the shareholding capital, number of shareholders and positive financial results.
"If they offer these products, which they have every right to do, they don't have the lapses that a stock company has, and, as a result, it would cost them more to finance those risks than the stock companies
, because a higher reserve would be necessary."
As many as 24 new closed joint stock companies
were established in Oman during 2017 with an issued capital of RO46.62mn, according to the Ministry of Commerce and Industry (MoCI) statistics.
Muscat, May 28 (ONA) Statistics published by the Ministry of Commerce and Industry have shown that the number of e-application for registration with the Ministry stood at 13.640 including 1072 for partnership andjoint stock companies
, 629 for the domestic trade businesses, 2197 for limited liability companies, 24 for Omani closed joint stock companies
, 229 for limited liability company governed by the foreign investment law, 8145 for sole propertier, 5 for Omani closed joint stock companies
governed by the foreign investment law, 1325 for partnership companies, 11 for international companies, 1 for a commercial representation office and 1 for a partnership company governed by the foreign investment law.
Summary: DUBAI -- His Highness Shaikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, has issued an Emiri Decree on the election of boards members of joint stock companies
licensed in the Emirate of RAK in accordance with governance rules and standards of institutional discipline in the state.
Also, mutual holding companies aren't answerable to the market on a quarterly basis to the same extent as stock companies