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Oman Finances Over RO 900 Million In Projects

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Open Eyes Opinion {source: WAM}

Oman

Oman’s Capital Market Finances Over RO 900 Million Projects in 2014

 

 

 

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Muscat — The capital market in the Sultanate contributed to financing economically feasible projects worth about RO 907 million. This reflects the ability of the sector to provide the required liquidity for the different sizes of projects.

Indicators published by the Capital Market Authority (CMA) show that the capital market sector can provide the same level of finance provided by the banking sector and even higher as it had been the case in 2012 and 2013.

The annual report published by CMA for 2014 pointed out that the size of the capital market sector grew by 3% to hit RO 14.56 billion in 2014 compared to RO 14.16 billion in 2013. This highlights the fact that the capital market is considered one of the main pillars of the national economy in the Sultanate.

The report, carried by Oman News Agency, points out that the size of the market as of the end of 2014 may not represent the actual size of the capital market sector of the Sultanate because the economic conditions witnessed by the world due to the decline in oil prices at the third quarter of 2014 have great effect on the performance of the market during the last quarter of 2014. This made the size of the market records only slight increase.

The size of the market also stood at about RO 15.61 billion at the third quarter of 2014 compared to RO 13.46 billion at the same period in 2013; a growth by 15%.

This points out that despite the effects of the decline in oil prices on the performance of the sector, it still plays an important role in its contribution to the growth of the national economy. The sector represents 30% of the Sultanate’s GDP.

The number of IPOs at Muscat Securities Market during last year stood at 4 worth of RO 74.76 million, which reflects the high liquidity of the market and the ability of the sector to finance major economic projects.

The dividends distributed by the public joint stock companies on their shareholders stood at about RO 450.18 million of which 92% were cash dividends and the remainder were stock dividend or convertible bonds. These dividends added new returns for shareholders.

The value of dividends was 5% of the total value of all listed companies and 55% of the unaudited gross net annual profits for 2014. WAM/tfaham

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[photo credits: “Hyatt hotel, Muscat, Oman” by Andries Oudshoorn – 080324-283 Oman – Muscat – Hyatt hotelUploaded by mangostar. Licensed under CC BY-SA 2.0 via Wikimedia Commons – https://commons.wikimedia.org/wiki/File:Hyatt_hotel,_Muscat,_Oman.jpg#/media/File:Hyatt_hotel,_Muscat,_Oman.jpg]

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