News
Sweets of Oman Loses RO4.5mn After Misstatement Of Financial Statements
Muscat: Sweets of Oman has reported a loss of over RO4.5mn owing to misstatements of the company’s financial statements.
The company made the disclosure on 14th October 2020 regarding the misstatement of their financial statements for the second quarter ending on 30th June 2020.
A statement from the company read: “We would like to inform all stakeholders that the Company appointed an independent auditor to review the misstatements, and based on the findings of the independent auditor the financial statements for the 3rd quarter ending on 30th September were published.”
“The accumulated losses stand at RO4,523,121 as of September 30, 2020,” the statement added.
The Company then explained that under the direction of the board they are currently formulating a business plan to overcome the situation and that an EGM will be called to review and approve their new strategy.
Sweets of Oman has launched raised legal action against the employees involved in the misstatement of the financial records.
* Image used for illustrative purposes only.
Cent Capital, AI Finance App by ex-AWS Strategist ‘The Beast of Bay Area,’ Launches to End Financial Anxiety, Hits $1M AUM
Wassan Dental Centre’s Expanded State-Of-The-Art Facility Opens In Muscat
Oman-Bahrain Economic Forum to Explore Cooperation, Partnerships
ahlibank Advances Sustainability Goals with Completion of Solar Car Parking at Head Office
Oman Records Trade Surplus Exceeding RO3.5 Billion
Liva Insurance Sweeps Three Major Wins at Alam Al-Iktisaad Awards 2025
ROHM To Premiere Arabic-Language Grand Opera – ‘Sindbad: The Omani Sailor,’ on Oct 3 and 5
Dossier Construction Awards 2025 Celebrates Pioneers in Construction, Infrastructure and Real Estate
AI Zone, Digital Triangle Project Unveiled at COMEX 2025
Changan Launches the All New CHANGAN CS75PLUS 4WD in Oman
Power And Beyond: The Path To A Low-carbon Future
Time to Buy Saudi Stocks? Some Investors Look at Dubai Instead
Al Mouj Muscat unveils Ghadeer Villas
Retail Abu Dhabi’s ‘Unbox Amazing’ generates sales of more than AED 2 billion in participating stores
Renewables are booming, but not fast enough to cap greenhouse emissions
Hospitality Industry in Oman Estimated 90% Growth in 2022
Saudis Sign Deals From Energy to Metals in Bid to Salvage Forum
Saudi Arabia’s Gold Miner Plans to Be a Global Top-20 Supplier
Technology to drive Sultanate’s downstream industry
Digitization and Logistics Service Providers Can Help SMEs Make the Most of Peak Season Retail Trends
VIDEO: Robert MacLean on how NHI is Shaping Oman’s Next Generation of Hospitality Leaders
The Future of Oman: Decoding The Sultanate of Oman’s Strategic Promotional Nation Brand
EXCLUSIVE: AI, Robotics & Wearable Sensors are Changing the Lives of Dementia Patients
EXCLUSIVE: Talking Renewable Projects & Sustainability in Oman and Beyond with Vipul Tuli
VIDEO: Eng. Salim Al Thuhli, CEO, Khazaen Economic City on Investment Opportunities
H.E. Salim Al Aufi, Minister of Energy & Minerals talks about Oman’s Green Hydrogen Goals
VIDEO: Talking Latest Developments in Aircraft Ground Guidance & More at Oman Airports
VIDEO: Dr. Firas Al-Abduwani Discusses Green Hydrogen, Potential Regions for Development & Creating a Green Ecosystem
VIDEO: Discussing The Future of Green Hydrogen in Oman with H.E. Salim Al Aufi
Celebrating Infoline’s Remarkable 20-Year Journey
-
OER Magazines2 months agoDossier – ToP 25 Personalities 2025
-
Dossier2 months agoArabic Dossier – ToP 25 Personalities 2025
-
Alamaliktistaad Magazines2 months agoAl-iktisaad, August 25
-
OER Magazines2 months agoOER, August 2025
-
News2 months agoxAI Open-Sources Grok 2.5, Signaling Accelerated AI Push
-
Entertainment2 months agoHere’s a Complete Overview of the 2025/2026 Season at the Royal Opera House Muscat
-
News1 month agoSultan Center Unveils Flagship Al Hail Store, Elevating Premium Retail Experience in Oman
-
Gadgets2 months agoPanasonic, OMASCO Mark 50-year Partnership with Launch of new EU-Series AC Designed for Oman Market