Phoenix Power Co SAOG (PHPC)

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News

12 June 2017 11:41 AM Phoenix Power stock drops to lowest level since listing

Mubasher: Phoenix Power’s stock declined in Monday’s mid-session to its lowest level since its listing on the Muscat Securities Market (MSM). The stock tumbled 0.79%, to be traded at OMR 0.125. The stock levelled down after the Omani firm said it …

Trading Activities

4 June 2017 10:01 AM Phoenix Power to pay $11.8m for Daewoo E&C

Mubasher: Phoenix Power on Sunday said it has reached a settlement agreement in the case filed against it by Daewoo E&C. This agreement “obliged” the Omani firm to pay $11.8 million to the engineering, procurement and construction (EPC) contractor …

Law

13 April 2017 05:13 PM Phoenix Power losses deepen 114% in Q1

Mubasher: Phoenix Power Company on Thursday reported widening its losses by 114.3% in the first quarter of 2017, compared to the same period in 2016. Losses stood at OMR 12 million in Q1-17, compared to OMR 5.6 million in Q1-16, according to the …

Financial Results

3 January 2017 00:38 PM Phoenix Power sets record date

Mubasher: Phoenix Power Co. said shareholders registered with the Muscat Clearing and Depository Company as on 23 January 2017 will be entitled to receive annual dividends, according to a bourse statement. Shareholders approved cash dividends of …

Cash Dividends

8 November 2016 03:30 PM MSM-listed energy firms’ Q3 profit rises 1.3%

By: Salama Abdulrahman Mubasher: The financial statements of the energy companies listed on the Muscat Securities Market (MSM) showed a year-on-year growth in their total net profits for the third quarter of fiscal 2016. Total profits of 11 listed …

Financial Results

12 October 2016 09:53 AM Phoenix Power profits up 2% in Q3

Mubasher: Phoenix Power said its profits for the third quarter of 2016 rose 2.2% to OMR 10.94 million ($28.32 million) from OMR 10.71 million ($27.72 million), according to a bourse filing. Over the first nine months, the company earned OMR 15.44 …

Financial Results

28 September 2016 10:15 AM QEWC sells entire stake in Oman’s Phoenix Power

Mubasher: Phoenix Power said Monday that Qatar Electricity and Water Company (QEWC) sold its entire 9.75% stake in the Omani firm to Nebras Power, a subsidiary of QEWC, according to a bourse filing. QEWC stake in Phoenix Power amounts to OMR 14.26 …

Mergers and Acquisitions

28 August 2016 01:37 PM Omani power firms’ profits rise 5.4% in Q2

By: Salama Abdulrahman Mubasher:  The financial statements of the power companies listed in the Muscat Securities Market (MSM) for the second quarter of fiscal 2016 showed an increase of 5.4% in their profits, compared to the same period of 2015. …

Sector Reports

14 July 2016 11:50 AM Phoenix Power posts OMR 10m profit in Q2

Mubasher: Phoenix Power Company’s profits rose in the second quarter of the fiscal year 2016 by 2.5% to about OMR 10 million ($26 million), versus OMR 9.8 million ($25.37 million) in Q2-15. In the first half of the year, net profit grew by 40.63% …

Financial Results

1 March 2016 04:21 PM CMA, MSM approve Phoenix Power’s dividends proposal

Mubasher: Oman’s Capital Market Authority (CMA) and the Muscat Securities Market (MSM) approved on Tuesday a proposal by Phoenix Power’s board of directors to pay cash dividends at 2.8 Baisas per share for the fiscal year 2015. Cash dividends …

Management Decisions

13 January 2016 03:21 PM Phoenix Power records 154% rise in 2015’s profit

Mubasher: Oman’s Phoenix Power Company reported a 154% year-on-year rise in profit of fiscal year 2015, reaching OMR 28.77 million, compared to OMR 11.31 million in 2014.  Gross profit surged to OMR 36.76 million, versus only OMR 2,000 in 2014. …

Financial Results

13 January 2016 02:35 PM Initial Unaudited Financial Results for the year ended 31 December 2015

The Management of Phoenix Power Company SAOG is pleased to announce the initial unaudited financial results for the year ended 31 December 2015. The Management of Phoenix Power Company SAOG is pleased to disclose the following initial un-audited …

12 January 2016 03:36 PM Phoenix Power releases FY14’s retained earnings

Mubasher: Phoenix Power Company’s board of directors approved on Tuesday a proposal to distribute cash dividends of 2.8 Baisa per share from retained earnings as per the adjusted financial statements for the fiscal year ended on 31 December 2014. …

Management Decisions

12 January 2016 01:18 PM Board of Directors resolution’s disclosure

The Board of Directors of Phoenix Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Securities Market and the investors’ community that in accordance with the resolutions passed at the Annual General Meeting of …

30 December 2015 03:05 PM Nebras to take over QEWC stakes in Phoenix firms

Doha – Mubasher: Nebras Power said it entered into an acquisition agreement on Wednesday to acquire the entire stakes owned by Qatar Electricity and Water Company (QEWC) in two Phoenix companies. Taking place at the acquirer’s headquarters, the …

Mergers and Acquisitions

29 December 2015 11:47 AM Nebras signs acquisition deal with QEWC

Doha – Mubasher: Qatar Electricity and Water Company (QEWC) announced on Tuesday that it will sign an acquisition agreement with Nebras Power under which the latter acquire 9.75% and 15% of QEWC’s shares in Phoenix Power Company and Phoenix …

Mergers and Acquisitions

30 July 2015 01:23 PM Board of Directors resolutions’ disclosure

Phoenix Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Securities Market and the investors’ community that it has resolved the following at the meeting of the Board of Directors held on 29 July 2015:   Approval …

5 July 2015 00:00 PM Phoenix to pay 1.7 baisa/shr of retained profits

The board of Phoenix Power permitted to pay a cash dividend of 1.7 baisa per share out of the retained earnings as per the audited financial statements for the financial year ended 31 December, 2014, based on the company’s meeting held on 8 June, …

Company News

5 July 2015 09:05 AM Board of Directors resolution’s disclosure

The Board of Directors of Phoenix Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Securities Market and the investors’ community that in accordance with the resolutions passed at the Annual General Meeting of …

22 June 2015 11:45 AM Phoenix Power’s shares start trading Monday

First trades on the shares of Phoenix Power start today, 22 June at the Parallel Market of Muscat Securities Market. Phoenix stock will be floated for the three coming days, according to regulations of the Omani stock market.    

Initial Public Offerings