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AES BARKA SAOG
Challenges ahead
 Though AES Barka SAOG has gone four steps down the ladder mainly because of its
less than one per cent revenue growth, though the company feels that 2006 was a
truly remarkable year. The reason: AES Barka SAOG completed the refinancing of
its long-term loan to realise the value created by the successful completion and
operations of the plant. The benefits of this refinancing include reduction in
interest rate margins on its long-term loan (between 40 and 60 basis points
reduction throughout the tenure of the loan) and generation of additional funds
for distribution to shareholders. The proceeds of the refinancing and
re-levering were used for distribution of dividends to the extent of the
retained earnings and the balance was applied towards reduction of capital of
AES Barka SAOG. As a result, AES Barka SAOG distributed a total dividend of 25
per cent which translates into RO8 million, while RO16 million shall be
distributed on account of reduction of capital.
During the year, AES Barka SAOG obtained ISO 14001 and OHSAS 18001 certification
for its environmental and safety programmes. “In this fourth year of plant
commercial operations, results from previous years have been met or surpassed
once again. AES Barka has again achieved greater than 99 per cent availability
of both power and water,” said Venu Nambiar, Chairman, AES Barka.
“The year 2007 is going to be a very challenging year for AES Barka SAOG. As
envisaged and recommended by the OEM, after the completion of four-year
maintenance cycle, overhauling activities on key plant equipment will be
conducted for the first time in the history of the plant. Both gas turbines and
associated generators will be undergoing major overhaul. These activities are
spaced out at six months interval, which is a result of strategic planning of
operational hours for each machine over the last four years of operation. The
company has the services of the OEM specialists at its disposal and has
maintained an adequate inventory of critical spares. We are confident that even
an unforeseen event is adequately mitigated,” said Nambiar. However, the company
has warned that there is an expected decrease in the profits and dividends for
the year 2007.
√ Back
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May -
2007 |
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Cover Story |
Oman’s Leading Listed Companies in 2006
Mukhtar Hasan analyses Oman’s
largest listed companies in 2006, based on revenues and other
financial parameters. |
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Other Headlines |
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Surfing on SMEs
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financial horizon after 12 years. Abhijit Sinha checks out CEO Nani
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solution with that product’ |
Enter the chill-out zone
The AC and refrigerating unit market is soaring regionally as well
as globally, with changing customers’ profile and cutting-edge
technologies adding value to the products |
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An Issue Ignored Is A Crisis Invited
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X Means Exhilaration
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dynamic driving capabilities, luxury and impeccable technology. A
test drive report by Anne Kurian |
Case for enhancing inter-Arab trade
The 22 Arab nations should look at
realising trade opportunities among themselves, writes Dr Jasim
Husain Ali |
When Dividend stocks in an uncertain market
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sailing for equity investors, writes Matein Khalid |
Oman is a hidden treasure
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Oman’s oil and gas industry, Atlas Copco, the world’s only
manufacturer of ISO certified oil-free air compressors, opted for
Oman as the venue of its first Oil and Gas MaXimiZe course. Sunil
Kumar Singh caught up with the organisers |
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The likely result of the intense
competition in Central Asia could mean that the Chinese majors may
be looking to place their investments in fields closer to home, away
from the Gulf |
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What to do next?
Managers devote time to
strategy-making because they want some degree of certainty that they
can direct their firm towards success |
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A novel to Communicate!
Oman Mobile recently launched Corporate Private Network for its NAMA post-paid
connection with loads of benefits for customers at down-to-earth prices |
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Opening the doors
Smart Manufacturing conference was an exceptional networking and knowledge
transfer event granting manufacturers a chance to enhance their bottom line. An
OER report on the recent two-day event |
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The Wave, Muscat
An Idyllic Island Lifestyle |
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Regulars |
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