Sembcorp Salalah Power and Water Company

Board Of Directors Meeting Resolution
2019-07-28, 2019-04-30, 2019-03-13, 2019-02-13
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Initial unapproved, unaudited results for the period ended 30 June 2019
2019-07-14

Annual General Meeting Disclosure
2019-04-15, 2019-03-13

Initial unapproved unaudited results for the period ended 31 March 2019
2019-04-15

Invitation to attend Annual General Meeting
2019-02-25

Initial unapproved uaudited results for the year Ended 31 December 2018
2019-01-14

Appointment of New Chief Executive Officer
2018-11-18

Initial unapproved unaudited results for the period ended 30 September 2018
2018-10-18

Resolution of the Board of Directors Meeting held on 29 October 2018
2018-10-18

Resolution of the Board of Directors Meeting held on 25 July 2018
2018-07-26

Initial Unapproved unaudited results for the period ended 30 June 2018
2018-07-12

Board of Directors Meeting Resolution copy copy
2018-07-08

Disclosure of the impact of the Dhofar and Wusta governates due to hurricane
2018-05-27
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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.
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Board Meeting 27 April 2018
2018-04-29
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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.
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Initial unapproved, unaudited results for the Period ended 31 March 2018
2018-04-12
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.

Annual General Meeting Disclosure Statement
2018-03-11
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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.

Invitation to Attend the Annual General Meeting
2018-02-21
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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.
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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.

Board Meeting 13 February 2018
2018-02-14
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.

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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.

Initial unapproved, unaudited results for the year ended 31 December 2017
2018-01-14
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.

Board Meeting 25 October 2017
2017-10-25 08:00 - 17:00 UTC
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.

Initial unapproved, unaudited results for nine month period ended 30 September 2017
2017-10-12
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.

Disclosure
2017-09-05
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.

Board Meeting 27 July 2017
2017-07-27
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.

Board Meeting 25 April 2017
2017-04-26
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.

Initial unapproved, unaudited results for three month period ended 31 March 2017
2017-04-13
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.

Annual General Meeting Disclosure Statement
2017-03-14
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.
