MUSCAT — Muscat Securities Market (MSM ) yesterday signed an agreement with Jordanian company Arbah Soft (Soft Profit) of Jordan. The agreement deals with establishing a new system in basic immediate financial performance for the data of companies listed on MSM. The new system, expected to be operational in Mid-2010, will provide investors and traders with quality information that will help them in rationalising their investment decision.
Rashid bin Abdullah al Alawi, Director of Information Centre at MSM, said that when MSM applies this system, it will be one of the leading Arab securities markets to introduce this kind of service to investors. The service includes publishing the data related to MSM-listed companies' financial performance immediately after releasing the mid-quarterly , mid-yearly or annual financial statements.
This information will be linked to the stock price live and directly either on the level of individual companies or by sector and market. This will help investors to have an up-to-date idea about the performance indicators and enhance transparency at the market. Al Alawi added in a press statement that the aim behind MSM's implementation of the system is to enhance financial and accounting disclosure, which will in turn boost transparency and encourage investment.
