MUSCAT : Oman’s Ministry of Commerce, Industry and Investment Promotion has issued a statement regarding the liquidation of some companies affiliated to Mohammed Bin Saud Bahwan Group.
“After communicating with the stakeholders of the Group, it has become clear that the companies in which the liquidation work was announced and registered with the Ministry of Commercial Registry Secretariat are firms that were established in 2019 and did not practice any commercial activity since its establishment to date,” Ministry said in the statement.
According to the Ministry the liquidation is “at the desire of the Group and based on Article 40 of the Commercial Companies Law related to the procedures for dissolution and liquidation.”
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