We have noted the publication of a news article currently in circulation on the net. Benchmark News, triggering the MSM and the local media to report on matters concerning our Group. This article contains a number of inaccuracies and misleading statements amongst which being the amount of the Group’s exposure to financial institutions and the amount stated to be due to suppliers and others, having been vastly exaggerated. We have met with the MSM representatives and provided them with clarifications with regard to the Group’s current financial exposure to Omani banks.
Details contained in the report are false, baseless and with malicious intent made by disgruntled employees whose services have been terminated by the Group for non-performance or acts against the Group while in service, against whom a prosecution has been ongoing in the UAE. We are taking all necessary action to bring these culprits to justice with the help of the concerned authorities. We believe that the defamatory content of the news article to be a malicious attempt by the ex-employees of the Group to discredit the Group and its owners.
We remain fully committed to the discharge of our obligations towards all our creditors. We further take this opportunity to thank our partners, suppliers and well-wishers for the trust placed in our organization over the past 40 years. Not only has our Group been adding value to the community and business in general in Oman, but we continue to highly value our social responsibility from which we will continue to remain undeterred. With the current situation in hand, our ongoing restructuring underway, and there being an expected turnaround in the global and local market conditions in one to two years, Darvesh Group in Oman is extremely hopeful and confident that it will continue its operations as done so for the last 40 years in Oman.
The Group has been employing at its peak in excess of 800 employees of which a significant number are Omani nationals. Not only are these employees our well-wishers but also part of our family and an asset of the Group.
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