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 Our Profile  * Achievements & Future Plans
 
 Innovated activities :

In the last two years, the company embarked on innovated activities and services, pursuant to the management’s desire to keep up with the fast and tremendous progress in technology with respect to the business of depository and settlement institutions, and for the sake of improving and enhancing the standard of services provided to the beneficiaries of the company’s services at its best.

Also, in the process of implementing the state-of-the-art technology for Clearing, Settlement & Depository to complement the electronic dealing that has been adopted in the Muscat Securities Market, effective the start of the year 2006. The company at present is in the preparation stage to improve programs and systems with the idea of linking the Gulf Markets.

 First – Subscriptions to Initial Public Offers (IPOs)
A system for the subscription of Initial Public Offers in the Sultanate, so as to link the Depository database with the subscriptions’ banks information relating to the subscribing companies. This is aimed: :
  • To minimize the efforts and to save time spent in preparing investors’ register of that specific new company, in preparation of listing it on the Market.
  • To ensure correct investor details by avoiding errors in the essential details of the investors that may occur during the subscription period.

Honesty in subscriptions to new issues and to minimize duplication in subscription by an investor for more than one time.

 

A system for the subscription of Initial Public Offers in the Sultanate, so as to link the Depository database with the subscriptions’ banks information relating to the subscribing companies. This is aimed: :
  • To minimize the efforts and to save time spent in preparing investors’ register of that specific new company, in preparation of listing it on the Market.
  • To ensure correct investor details by avoiding errors in the essential details of the investors that may occur during the subscription period.

Honesty in subscriptions to new issues and to minimize duplication in subscription by an investor for more than one time.

 

 Second – Distribution of dividends on behalf of the joint stock companies by way of ‘Electronic transfer to bank accounts of Investors’:
    • Availability of one unique system for the disbursement of entitlements illustrates rights and obligations of all the parties, and assists in ensuring the distribution of entitlements as soon as possible.
    • Reduction in the overall cost of disbursement
    • Availability of a neutral body subject to monitoring who is responsible for the disbursement, to ensure that the entitlements have reached the ultimate investors.
    • To perform the refund of non-disbursed amounts to the Trust fund
    • To make available necessary data and statistics, in case or receiving judgments to that effect
    • Availability of one unique system for the disbursement of entitlements illustrates rights and obligations of all the parties, and assists in ensuring the distribution of entitlements as soon as possible.
    • Reduction in the overall cost of disbursement
    • Availability of a neutral body subject to monitoring who is responsible for the disbursement, to ensure that the entitlements have reached the ultimate investors.
    • To perform the refund of non-disbursed amounts to the Trust fund
    • To make available necessary data and statistics, in case or receiving judgments to that effect
 Third – Investors’ Trust Fund
A Trust fund was created by the Capital Market Authority and its charter was approved in 2003, with the following purposes:
  • Holding in custody shareholders and investors’ entitlements as trust and to return it to the owners immediately upon demand after obtaining the necessary documentation.
  • Receive questions, queries and claims from investors and reply to them and disburse dividends as per eligibility.
A Trust fund was created by the Capital Market Authority and its charter was approved in 2003, with the following purposes:
  • Holding in custody shareholders and investors’ entitlements as trust and to return it to the owners immediately upon demand after obtaining the necessary documentation.
  • Receive questions, queries and claims from investors and reply to them and disburse dividends as per eligibility.
 Fourth – Issuance of Magnetic card to the investors (My Portfolio)
Issuance of a magnetic card to every investor, named (My Portfolio), and its main features are:
  • Facilitate investors dealings through using the number directly while dealing with the brokers.
  • Possibility of using the card to printout a statement of holdings through electronic devices similar to the banks’ Automatic Teller Machines (ATMs), that the company is intending to introduce during this year.
Issuance of a magnetic card to every investor, named (My Portfolio), and its main features are:
  • Facilitate investors dealings through using the number directly while dealing with the brokers.
  • Possibility of using the card to printout a statement of holdings through electronic devices similar to the banks’ Automatic Teller Machines (ATMs), that the company is intending to introduce during this year.
 Fifth – Company’s Website:
  •  The company Website is aiming to be more than just a site to learn about the services provided by the company. In fact, one of the main purposes the company aims at achieving in the future, is to provide the major part of the company services through the website, such as opening investor accounts, notification on an investor’s holdings, distribution of dividends and other information.
  • The company’s aspiration to use the website is great, specially by the joint stock companies listed on the company’s registers, to benefit from the services provided to it, without the need to visit the company’s offices for the sake of these services. Also the company is attempting to encourage the investors of different levels to use this service for the sake of tracing their investments and the consequential rights.
  •  The company Website is aiming to be more than just a site to learn about the services provided by the company. In fact, one of the main purposes the company aims at achieving in the future, is to provide the major part of the company services through the website, such as opening investor accounts, notification on an investor’s holdings, distribution of dividends and other information.
  • The company’s aspiration to use the website is great, specially by the joint stock companies listed on the company’s registers, to benefit from the services provided to it, without the need to visit the company’s offices for the sake of these services. Also the company is attempting to encourage the investors of different levels to use this service for the sake of tracing their investments and the consequential rights.
 Sixth – Wap
  • Driven by the company’s consistent desirous to facilitate investors’ contact with the Depository and to minimize the cost and efforts taken by these investors to benefit from the services provided by the company, the Muscat Securities Market has innovated Wap services for the investors from any point in the world.
  • Wap signifies the ability to browse electronic sites (Internet) through the mobile phone, so as to make available balance statements, movements of sale and purchase orders, distribution of dividends, availability of unclaimed amounts for the investor. All this and more can be provided through the Wap.
  • Minimize the direct relationship between the investor and those who are dealing generally with the Depository, by way of leveraging modern technology and providing services by using the most advanced means.
  • Driven by the company’s consistent desirous to facilitate investors’ contact with the Depository and to minimize the cost and efforts taken by these investors to benefit from the services provided by the company, the Muscat Securities Market has innovated Wap services for the investors from any point in the world.
  • Wap signifies the ability to browse electronic sites (Internet) through the mobile phone, so as to make available balance statements, movements of sale and purchase orders, distribution of dividends, availability of unclaimed amounts for the investor. All this and more can be provided through the Wap.
  • Minimize the direct relationship between the investor and those who are dealing generally with the Depository, by way of leveraging modern technology and providing services by using the most advanced means.
 Seventh – SMS
  • The Short Messages Service (SMS) is the most spread amongst the users, so it becomes possible through it, to respond to enquirer about his details, holdings and balances, after confirming his investor number and the civil ID card, as an example
  • The Short Messages Service (SMS) is the most spread amongst the users, so it becomes possible through it, to respond to enquirer about his details, holdings and balances, after confirming his investor number and the civil ID card, as an example
 Eighth – Additional Services
  • Pledging shares favouring a pledgee, for the purpose of financing and encouraging investment.
  • Assisting in managing general assemblies, counting quorums, counting votes in elections of Board of Directors.
  • Provide reports on shares to different bodies.
  • Pledging shares favouring a pledgee, for the purpose of financing and encouraging investment.
  • Assisting in managing general assemblies, counting quorums, counting votes in elections of Board of Directors.
  • Provide reports on shares to different bodies.
 Future Plans:
  • Implement the most recent systems and methods applied internationally in the filed of depository and reconciliation.
  • Make available appropriate mechanisms to depend on modern technology in serving investors, to minimize effort, time and cost to substitute visiting Depository offices.
  • Electronic transfer of cash dividends resulting from the pledged securities, to bank accounts of the pledgees.
  • Linking with the banks and the custodians of portfolios about the pledge and release, over securities by them, as a first stage. This shall assist in saving time and effort and minimize errors.
  • Coordinate with the competent bodies (Civil Status) on the possibility of linking between them, for the sake of safeguarding of the investors’ rights and confirmation of the investor’s identity.

 

  • Implement the most recent systems and methods applied internationally in the filed of depository and reconciliation.
  • Make available appropriate mechanisms to depend on modern technology in serving investors, to minimize effort, time and cost to substitute visiting Depository offices.
  • Electronic transfer of cash dividends resulting from the pledged securities, to bank accounts of the pledgees.
  • Linking with the banks and the custodians of portfolios about the pledge and release, over securities by them, as a first stage. This shall assist in saving time and effort and minimize errors.
  • Coordinate with the competent bodies (Civil Status) on the possibility of linking between them, for the sake of safeguarding of the investors’ rights and confirmation of the investor’s identity.

 

 
 
 
 
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