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.”
Read More
- Youth are the pillar of Oman’s development and future, says minister
- His Majesty Sultan Haitham issues decrees amending Council of Oman, Shura election laws
- Oman moves to ensure essential goods supply, price stability as CPA meets retailers
- 13 expats arrested for gambling in Muscat
- His Majesty Sultan Haitham expresses condolences to Jordan King over church attack
