Over 150 VIPs, guests and executives from across Oman gathered on Wednesday at a ceremony hosted by Forbes Middle East to honour the biggest and best organisations and leaders in the region.
It was the first event that Forbes Middle East has hosted in Oman, during which it revealed the country’s most successful companies. These lists are featured in the December edition of Forbes Middle East magazine, within a special Oman report.
“We hope that this event will be an inspiration not only for existing organisations, but also for aspiring entrepreneurs. This is a great time to be in Oman, especially with the country working towards its Vision 2040. We expect to see entrepreneurship taking centre stage in the region, along with more Omani residents and organisations being ranked in Forbes Middle East’s lists in the future,” said Khuloud al Omian, editor-in-chief at Forbes Middle East.
The event was hosted at W Muscat by Forbes Middle East alongside LuLu Group International, Danube Home and GBM as partners.
In order to formulate the list, Forbes Middle East gathered information from the Muscat Securities Market, and evaluated market value, sales, assets and profits. Combined, the top 25 listed companies have approximately US$111.8bn worth of assets, and last year made US$18.6bn in revenue and US$2.1bn in profit.
The unlisted companies ranking took into account the size of the business (in regard to number of employees, offices and countries present), the age of the company, its social initiatives, transparencyand editorial points.
Among Forbes Middle East’s list of top 25 listed companies in Oman are: Omantel, Bank Muscat, BankDhofar, National Bank of Oman, Ominvest, Ooredoo Oman, Sohar International, HSBC Bank Oman, Ahlibank, Renaissance Services, Phoenix Power, Shell Oman Marketing, SembcorpSalalah, Oman Cables Industry, Oman Flour Mills, Oman Oil Marketing, Bank Nizwa, National Finance, National Life & General Insurance, Al Suwadi Power, Al Maha Petroleum, Al Batinah Power, Oman Cement, Oman Refreshment and Salalah Port Services.
Top 25 unlisted companies are: Oman Investment Fund, Petroleum Development Oman, Oman Air, Oman Oil, Asyad, Omran, Zubair Corp, SuhailBahwan Group, Saud Bahwan Group, MB Holding, Zawawi Group, KhimjiRamdas Group, MohsinHaiderDarwish, Al Tasnim Enterprises, Muscat Overseas Group, Al Siraj Group, Al Ansari Group, Al Adrak, Al Burkan Group, Al Ramooz Group, Al Khalil Group, Al Turki Enterprises, BahwanCybertek, Al Raid Group and Al Harthy Group.