Subject to lenders approval, on 20 November 2016, the Board of Directors of Sembcorp Salalah Power & Water Company (“the Company”) has resolved to change the registered office from Muscat to Salalah in Articles of Association of the Company. The Company will seek Shareholders’ approval in an EGM to be held in conjunction with the AGM in March 2017.
The management of the Company is pleased to disclose its initial, unapproved, unaudited results for the year ended 31 December 2016, as required by the CMA Circular E/2/2016. All figures in OMR millions For the year ended 31 December 2016 For the year ended 31 December 2015 Percentage change Total revenue 77.545 73.621 5.33% Total expenses* (62.916) (59.977) 4.90% Net profit after tax 14.629 13.644 7.22%
The Board of Directors of Sembcorp Salalah Power & Water Company SAOG (“the Company”) is pleased to advise the Capital Market Authority, the Muscat Securities Market and the investor community of the following material resolutions made at the meeting of the Board of Directors (the “Board”) held on 20 February 2017: 1) The Board approved and authorised for issuance the Company’s Financial Statements and annual report for the year 2016; 2) The Board approved the Code of Corporate Governance report for the year 2016; 3) The Board proposed to distribute a final cash dividend of Baizas 3.6 per share (3.6% of issued share capital) to the Shareholders who are registered in the Company Shareholders’ register with Muscat Clearance & Depository Company SAOC on 2 April 2017. The Company has already paid an interim dividend of 10.3 Baizas per share in November 2016. This will give a total dividend of Baizas 13.9 per share for the full year 2016; 4) The Board will seek Shareholders’ authorisation at the Annual General Meeting to approve the payment of an interim dividend not exceeding Baizas 10.4 per share (10.4% of the issued share capital of the Company) for the nine month period ending 30 September 2017; and 5) Subject to Shareholders approval, the Board approved amendment to the Articles of Association associated with change of registered office.
The Board of Directors of Sembcorp Salalah Power & Water Company SAOG (“the Company”) is delighted to invite the shareholders of the Company to attend the annual general meeting and extraordinary general meeting to be held at 3.00 p.m. on Tuesday 14 March 2017 at Hormuz Grand Hotel, Muscat, Sultanate of Oman, to discuss the following agenda: First: Agenda for the Extraordinary General Meeting 1 To approve the amendment to Article 2 of the Articles of Association with respect to change of registered office of the Company. Second: Agenda for the Annual General Meeting 1 To consider and approve the Report of the Board of Directors for the financial year ended 31 December 2016. 2 To consider and approve the Corporate Governance Report for the financial year ended 31 December 2016. 3 To consider the Auditor’s Report and approve the financial statements (Balance Sheet and Profit and Loss Account) for the financial year ended 31 December 2016. 4 To consider and approve the recommendation to distribute cash dividends at the rate of 3.6% of the capital (being 3.6 baisas per share) to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as at 2 April 2017. 5 To authorize the Board of Directors to approve the payment of an interim dividend of up to 10.4% of the issued share capital of the Company (being 10.4 baisas per share) (from the audited accounts of the Company for the nine-month period ending on 30 September 2017) to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as at 1 November 2017. 6 To consider and ratify the directors’ and committees’ sitting fees received in the previous financial year and determine the sitting fees for the next financial year. 7 To consider and approve directors’ remuneration amounting to RO 91,000 for the financial year ended on 31 December 2016. 8 To consider and ratify the related party transactions entered into during the financial year ended on 31 December 2016. 9 To consider and approve the related party transactions proposed to be entered into during the financial year ending on 31 December 2017. 10 To inform the meeting of the donations made to support community services during the financial year ended on 31 December 2016. 11 To consider and approve a proposal to spend the total sum of RO 42,000 to support community services during the financial year ending on 31 December 2017. 12 To approve the criteria set out to appraise the board of directors’ performance. 13 To appoint an independent third party to evaluate the performance of the directors for the financial year ending on 31 December 2017 and determine their fees. 14 To appoint the auditors of the Company for the financial year ending on 31 December 2017 and determine their fees. Pursuant to the Articles of Association of the Company, any shareholder has the right to appoint a proxy in writing to attend and vote on decisions taken on his behalf. The proxy should carry the authorised proxy card attached with the notice to attend the general meeting. If the shareholder is a natural person, he is required to attach with the proxy card a copy of ID for adults, passport for females and minors who do not have an ID card, and resident cards or passports for expatriates. If the shareholder is a juristic person, the proxy card shall be signed by an authorised signatory and sealed with the company’s seal and submitted together with a copy of the commercial registration certificate. All invitees are requested to attend the meetings at least half an hour before the meeting time. If you have any inquiries kindly contact Tariq Bashir on telephone number 93215022.
An Extraordinary General Meeting (EGM) of the shareholders of Sembcorp Salalah Power and Water Company SAOG (the “Company”) was held on Tuesday 14 March 2017 at 3:02 p.m. at the Hormuz Grand Hotel, Muscat, Sultanate of Oman. The following resolutions were passed in EGM: The amendment to Article 2 of the Articles of Association approved. The resolution shall result in change of registered office of the Company from Muscat to Salalah. Amended clauses of the Articles of Association are as follows: Article 2: The registered office of the Company shall be situated in Salalah, Sultanate of Oman. The Board of Directors may establish other branches, agencies or offices elsewhere within or outside the Sultanate of Oman.
An Annual General Meeting (AGM) of the shareholders of Sembcorp Salalah Power and Water Company SAOG (the “Company”) was held on Tuesday 14 March 2017 at 3:06 p.m. at the Hormuz Grand Hotel, Muscat, Sultanate of Oman. The following resolutions were passed in AGM: The report of the Board of Directors of the Company for the year ended 31 December 2016 was approved. The report on Corporate Governance for the financial year ended 31 December 2016 was approved. The financial statements (Balance Sheet and Profit & Loss Account) of the Company for the financial year ended 31 December 2016 was approved. A proposed cash dividend of 3.6% of the share capital (equivalent to 3.6 Baizas per share) to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as at 2 April 2017 was approved. The shareholders authorised the Board of Directors of the Company to approve the payment of an interim dividend up to 10.4% (equivalent to 10.4 Baizas per share) of the issued share capital of the Company, from the audited accounts of the Company for the nine-month period ending September 30, 2017 to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as on 1 November 2017 The sitting fees for the Directors and the Sub-Committees of the Board for an amount of RO 25,750 for the financial year ended 31 December 2016 and the proposed sitting fee for the financial year 2017 was approved. The Directors’ remuneration of RO 91,000 for the financial year ended 31 December 2016 was approved. The transactions and contracts entered into by the Company with related parties, for the financial year ended 31 December 2016 were approved. The proposed transactions and contracts to be entered into by the Company with related parties, for the financial year ending 31 December 2017 were approved. The donation of RO 34,000 made to support community services during the financial year ended 31 December 2016 was approved. A budget of RO 42,000 for the financial year 2017 towards charitable expenses was approved. The criteria to appraise the board of directors’ performance was approved. The appointment of Moore Stephens as independent third party to evaluate the performance of the Company and their remuneration was approved The appointment of PriceWaterhouseCoopers as the auditors of the Company for the financial year 2017 and their remuneration was approved.
The management of the Company is pleased to disclose its initial, unapproved, unaudited results for three month period ended 31 March 2017, as required by the CMA Circular E/2/2016. For three month period ended 31 March 2017 For three month period ended 31 March 2016 Percentage change RO RO Revenue 18,321,451 17,723,207 3.38% Cost of sales (10,431,193) (9,664,895) 7.93% Gross profit 7,890,258 8,058,312 -2.09% Administrative and general expenses (143,814) (206,054) -30.21% Profit before interest and tax 7,746,444 7,852,258 -1.35% Finance income 55,001 22,628 143.07% Finance costs (3,987,942) (4,263,512) -6.46% Profit before tax 3,813,503 3,611,374 5.60% Income tax expense (note) (3,542,121) (434,532) 715.16% Profit after tax for the year 271,382 3,176,842 -91.46% Note: Significant increase in income tax expense is due to one off deferred tax expense impact arising from change of tax law in Oman.
The Board of Directors of Sembcorp Salalah Power & Water Company SAOG (“the Company”) is pleased to advise the Capital Market Authority, the Muscat Securities Market and the investor community of the following material resolutions made at the meeting of the Board of Directors (the “Board”) held on 25 April 2017: The Board approved and authorised for issuance the Company’s Financial Statements and Management Discussion and Analysis report for the period ended 31 March 2017.
The Board of Directors of Sembcorp Salalah Power & Water Company SAOG (“the Company”) is pleased to advise the Capital Market Authority, the Muscat Securities Market and the investor community of the following material resolutions made at the meeting of the Board of Directors (the “Board”) held on 27 July 2017: The Board approved and authorised for issuance the Company’s Financial Statements and Management Discussion and Analysis report for the period ended 30 June 2017.
In compliance with the Rules and Guidelines of Disclosure, Sembcorp Salalah Power and Water Co SAOG (“the Company”), discloses the following: On 20 August 2017, Gas Turbine #5 (GT5) tripped after generator protections acted. Since then the gas turbine has been opened for inspected by experts to assess the situation and its remediation. On 04 of September, the management of the Company met with the experts conducting the assessment and representatives of the turbine’s manufacturer. The preliminary conclusion is that this is a major breakdown of the GT5 unit. The Company is expecting negative revenue impact of approximately Omani Rials 1.1 million. This is a preliminary estimation, as the total repair costs and durations cannot yet be precisely assessed at this point in time. The Company has made the required notifications to insurance companies, and the damage claim process has been initiated. The Company has been and is taking all reasonable measures to mitigate the financial impact to the fullest extent possible. The Company projects that this unexpected technical failure may affect the dividend for the year ending 31 December 2017.
The management of the Company is pleased to disclose its initial, unapproved, unaudited results for nine month period ended 30 September 2017, as required by the CMA Circular E/2/2016. Note: Significant increase in income tax expense is due to one off deferred tax expense impact arising from change of tax law in Oman.
The Board of Directors of Sembcorp Salalah Power & Water Company SAOG (“the Company”) is pleased to advise the Capital Market Authority, the Muscat Securities Market and the investor community of the following material resolutions made at the meeting of the Board of Directors (the “Board”) held on 25 October 2017: a) The Board approved and authorised for issuance the Company’s Financial Statements and Management Report for the period ended 30 September 2017; and b) The Board approved the distribution of an interim cash dividend for 2017 of 7.2% of the Capital (7.2 baizas per share), in accordance with the authorisation given by the Company’s shareholders at its AGM on 14 March 2017 to the Shareholders who are registered in the Company Shareholders’ register with Muscat Clearance & Depository Company SAOC on 1 November 2017.
The management of the Company is pleased to disclose its initial, unapproved, unaudited results for the year ended 31 December 2017, as required by the CMA Circular E/2/2016. Note: Significant increase in income tax expense is due to one off deferred tax expense impact arising from change of tax law in Oman. The above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
Please refer to the attached file The Board of Directors of Sembcorp Salalah Power & Water Company SAOG (“the Company”) is pleased to advise the Capital Market Authority, the Muscat Securities Market and the investor community of the following material resolutions made at the meeting of the Board of Directors (the “Board”) held on 13 February 2018: The Board approved and authorised for issuance the Company’s Financial Statements and annual report for the year 2017; The Board approved the Code of Corporate Governance report for the year 2017; The Board proposed the distribution of final cash dividend of Baizas 3.1 per share (3.1% of issued share capital), giving a total dividend for 2017 of Baizas 10.3 per share to the Shareholders who are registered in the Company Shareholders’ register with Muscat Clearance & Depository Company SAOC on 1 April 2018; The Board will seek Shareholders’ authorisation at the Annual General Meeting to approve the payment of an interim dividend not exceeding Baizas 10 per share (10% of the issued share capital of the Company) for the nine month period ending 30 September 2018, to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as at 1 November 2018. target="_blank" rel="noopener"> DownloadThe above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
Please refer to the attached file The Board of Directors of Sembcorp Salalah Power & Water Company SAOG (“the Company”) is delighted to invite the shareholders of the Company to attend the annual general meeting (Meeting) to be held at 3.00 p.m. on Thursday 8 March 2018 at Hormuz Grand Hotel, Muscat, Sultanate of Oman, to discuss the following agenda: Agenda for the Annual General Meeting 1 To consider and approve the Report of the Board of Directors for the financial year ended 31 December 2017. 2 To approve the report on the evaluation of the performance of the Board of Directors for the financial year ended on 31 December 2017. 3 To consider and approve the Corporate Governance Report for the financial year ended 31 December 2017. 4 To consider the Auditor’s Report and approve the financial statements (Balance Sheet and Profit and Loss Account) for the financial year ended 31 December 2017. 5 To consider and approve the recommendation to distribute cash dividends at the rate of 3.1% of the capital (being 3.1 baisas per share) to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as at 1 April 2018. 6 To authorize the Board of Directors to approve the payment of an interim dividend of up to 10% of the issued share capital of the Company (being 10 baisas per share) (from the audited accounts of the Company for the nine-month period ending on 30 September 2018) to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as at 1 November 2018. 7 To consider and ratify the directors’ and committees’ sitting fees received in the previous financial year and determine the sitting fees for the next financial year. 8 To consider and approve directors’ remuneration amounting to RO 67,240 for the financial year ended on 31 December 2017. 9 To consider and ratify the related party transactions entered into during the financial year ended on 31 December 2017. 10 To consider and approve the related party transactions proposed to be entered into during the financial year ending on 31 December 2018. 11 To inform the meeting of the donations made to support community services during the financial year ended on 31 December 2017. 12 To consider and approve a proposal to spend the total sum of RO 60,000 to support community services during the financial year ending on 31 December 2018. 13 To appoint an independent entity to evaluate the performance of the directors for the financial year ending on 31 December 2018 and determine their fees. 14 To appoint the auditors of the Company for the financial year ending on 31 December 2018 and determine their fees. Pursuant to the Articles of Association of the Company, any shareholder has the right to appoint a proxy in writing to attend and vote on decisions taken on his behalf. The proxy should carry the authorised proxy card attached with the notice to attend the general meeting as issued by Muscat Clearing and Depository Company SAOC. If the shareholder is a natural person, he is required to attach with the proxy card a copy of ID for adults, passport for females and minors who do not have an ID card, and resident cards or passports for expatriates. If the shareholder is a juristic person, the proxy card shall be signed by an authorised signatory and sealed with the company’s seal and submitted together with a copy of the commercial registration certificate. All invitees are requested to attend the meetings at least half an hour before the meeting time. If you have any inquiries kindly contact Tariq Bashir on telephone number 93215022. target="_blank" rel="noopener"> DownloadThe above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
Please refer to the attached file <pAn Annual General Meeting (AGM) of the shareholders of Sembcorp Salalah Power and Water Company SAOG (the “Company”) was held on Thursday 8 March 2018 at 3:07 p.m. at the Hormuz Grand Hotel, Muscat, Sultanate of Oman. The following resolutions were passed in AGM: 1. The report of the Board of Directors of the Company for the year ended 31 December 2017 was approved. 2. The report on the evaluation of the performance of the Board of Directors for the financial year ended on 31 December 2017 was approved 3. The report on Corporate Governance for the financial year ended 31 December 2017 was approved. 4. The financial statements (Balance Sheet and Profit & Loss Account) of the Company for the financial year ended 31 December 2017 was approved. 5. A proposed cash dividend of 3.1% of the share capital (equivalent to 3.1 Baizas per share) to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as at 1 April 2018 was approved. 6. The shareholders authorised the Board of Directors of the Company to approve the payment of an interim dividend up to 10% (equivalent to 10 Baizas per share) of the issued share capital of the Company, from the audited accounts of the Company for the nine-month period ending September 30, 2018 to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as on 1 November 2018 7. The sitting fees for the Directors and the Sub-Committees of the Board for an amount of RO 20,500 for the financial year ended 31 December 2017 and the proposed sitting fee for the financial year 2018 was approved. 8. The Directors’ remuneration of RO 67,240 for the financial year ended 31 December 2017 was approved. 9. The transactions and contracts entered into by the Company with related parties, for the financial year ended 31 December 2017 were approved. 10. The proposed transactions and contracts to be entered into by the Company with related parties, for the financial year ending 31 December 2018 were approved. 11. The donation of RO 40,119 made to support community services during the financial year ended 31 December 2017 was approved. 12. A budget of RO 60,000 for the financial year 2018 towards charitable expenses was approved. 13. The appointment of KPMG as independent third party to evaluate the performance of the Company and their remuneration was approved 14. The appointment of PriceWaterhouseCoopers as the auditors of the Company for the financial year 2018 and their remuneration was approved. target="_blank" rel="noopener"> DownloadThe above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
The management of the Company is pleased to disclose its initial, unapproved, unaudited results for the period ended 31 March 2018, as required by the CMA Circular E/2/2016. The above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
Please refer to the attached file The Board of Directors of Sembcorp Salalah Power & Water Company SAOG (“the Company”) is pleased to advise the Capital Market Authority, the Muscat Securities Market and the investor community of the following material resolutions made at the meeting of the Board of Directors (the “Board”) held on 27 April 2018: The Board approved and authorised for issuance the Company’s Financial Statements and Management Report for the period ended 31 March 2018. target="_blank" rel="noopener"> Download
Please refer to the attached file In compliance with the Rules and Guidelines of Disclosure, Sembcorp Salalah Power and Water Co SAOG (“the Company”) discloses the following: On 25 May 2018, Cyclone Mekunu storm made landfall near Salalah. The Company, with the help of its staff, took all necessary measures to minimize the impact of the Cyclone. Our preliminary assessment is that the total impact due to Cyclone is not expected to be material. However, the total impact of the Cyclone on plant operations cannot yet be precisely assessed at this point in time. The company is producing power and delivering to Dhofar grid. Our water production plant is temporarily shut down due to a severe worsening of sea conditions during the cyclone, conditions that still persist. target="_blank" rel="noopener"> Download
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