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ONEIC gets RO1.058mn settlement from government entity

5 Jul 2020

In an amicable settlement reached with a government entity, Oman National Engineering and Investment Company (ONEIC) will receive RO1.058mn during 2020.  

In a a disclosure issued to Muscat Securities Market, ONEIC said, ‘We would like to inform the esteem shareholders and investors that ONEIC has reached on July 2, 2020 an amicable settlement with a government entity that shall result in receiving an amount of RO1.058mn during 2020.’  

It added that the proceeds of this settlement will not affect the financial results of the company as it is the amount due outstanding to the company, which is now settled.  

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