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News Omani Capital Market Authority questions Raysut Cement's second quarter 2022 results

Omani Capital Market Authority questions Raysut Cement's second quarter 2022 results

Written by Global Cement staff 29 November 2022
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Oman: The Capital Market Authority (CMA) has called on Raysut Cement to urgently address 'material misrepresentations' in its financial results for the second quarter of 2022. The Oman Daily Observer newspaper has reported that the CMA has warned investors that the misrepresentations 'hugely' impacted the report's profit and loss accounts.

The regulator said "CMA emphasises that failure to exercise due diligence in providing timely and accurate financial statements to the investors in fair manner is a breach of the law, and renders the violating entities legally responsible. The CMA announces zero tolerance in this regard."

Last modified on 30 November 2022
Published in Global Cement News
Tagged under
  • Raysut Cement
  • Results
  • Oman
  • Capital Market Authority
  • Finance
  • Profit
  • Loss
  • Law
  • Report
  • GCW585
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