Saif Sayah Al Mansoori, Senior Head of Listed Companies
Accordingly, boards and management of listed companies
must fully comply with the legal requirements of section 232 of the Act in respect of the financial statements for the ensuing periods to avoid any punitive action in future.
During regulatory review of listed companies
, a number of instances have been highlighted where CFOs, in violation of the explicit legal requirements, have not authenticated the financial statements for the year ending June 30, 2017.
However, now the SECP has decided that listed companies
need to send an electronic copy of the annual financial statements along with other reports to the commission.
Mansoori said QSE believed that IR was an essential business support function that helped its listed companies
attract more investors, enhance credibility and facilitate expansion.
The SEC has long been planning to increase the minimum public float requirement for listed companies
but has deferred this many times because of volatile market conditions.
In the light of the growing competition to attract capital and investments, he said, QSE believes that IR is an essential business support function that helps its listed companies
attract more investors, enhances credibility and ultimately facilitates expansion and growth opportunities for its companies.
The four publicly listed companies
honored were Pilipinas Shell, for best in initial public offering program for small investors; First Philippine Holdings, best in sustainability program; Aboitiz Equity Ventures, best in compliance and ethics program, and SM Prime Holdings, best in investor relations.
The Supreme Council for Investment decided, in its first meeting two weeks ago, to postpone the collection of taxes by 10% on capital gains resulting from trading listed companies
on the EGX for three more years starting from 2017--when the first postponement approved by the president for two years will end.
The SECP also concluded 3 proceedings for initiating inspection and investigation against two listed companies
under sections 231 and 265 of the ordinance, respectively and appointed inspectors with directions to submit their report within 60 days about the company affairs.
Some 62 listed companies
, local and foreign, disclosed their Q1 financial statements for 2015 within the 45 days period given.
The combined net profit of all listed companies
as of March 31, 2015 has shown an increase of 3.
Muscat, April 16 (ONA) The latest statistics point out that as of Wednesday April 16th 2015, Muscat Securities Market (MSM) is the best Gulf stock market in terms of quick disclosure by MSM listed companies
for their financial results at the first quarter of 2015.
MSM listed companies
completed the annual general meetings in March and approved the dividends recommended by their boards.
The petition is for Certiorari and Prohibition with application for temporary restraining order or writ of preliminary injunction to bar the Finance The petition seeks to declare unconstitutional Revenue Regulation 01-14, Revenue Menorandum Circular 05-14, and SEC Memorandum Circular 10-14 which prohibit the reference to PCD Nominee as the payee of dividend payments made by listed companies