MUSCAT: Dhofar Cattle Feed Company has disclosed a fraudulent activity by “some of its employees” amounting to OMR 245,000.
In a statement issued to Muscat Securities Market, Dhofar Cattle Feed said the fraudulent activity was reported “in respect of the expired dairy products that has already been accounted for, there will not be any further impact on the company’s income statement.”
According to the statement, the company launched an immediate investigation and on detailed scrutiny “we found some employees of the company have committed fraud to the extend of approximately OMR 245K,” the company said.
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“The company has revamped it’s system and processes and brought additional measures of internal control. We are in the process of filing the case in the court with the help of our independent legal accountant consultant and the company’s lawyer,” the statement added.
Dhofar Cattle Feed founded in 1984 has a production capacity of 150,000MT per annum at its farm in A’ Sanabil.
