March 11, 2018 / 5:21 AM / 2 months ago

BRIEF-Oman's United Finance Revises FY Financial Results

March 11 (Reuters) - UNITED FINANCE CO:

* BOARD REVIEWED AND APPROVED REVISED FINANCIALS REFLECTING FY NET PROFIT OF 1 MILLION RIALS

* BOARD WITHDREW PROPOSAL FOR DECLARATION OF DIVIDEND FOR THE FINANCIAL YEAR 2017

* TAKING INTO ACCOUNT CURRENT CIRCUMSTANCES OF CO, BOARD DECIDED TO WITHDRAW PROPOSAL FOR REDUCTION OF SHARE CAPITAL OF COMPANY

* CO’S FRAUD INVESTIGATION COMMITTEE SAYS NIZWA BRANCH MANAGER APPEARS TO HAVE INDULGED IN ACCOUNTING MANIPULATIONS, THEFT OF CO’S LOAN RECORDS

* AMOUNT OF IRREGULARITIES IS QUANTIFIED AT 1.35 MILLION RIALS Source:(bit.ly/2GfFV3k) Further company coverage:

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