DFM achieves 97.6pc result compliance
Dubai, April 1, 2012
Dubai Financial Market (DFM) said its UAE-listed companies have shown a 97.6 per cent compliance to disclose their annual results within the deadline of three months from the end of the financial year.
According to the Dubai bourse, 42 out of the 43 listed UAE public joint stock companies successfully disclosed their annual results by the end of March.
The only exception was the Amlak Finance, the largest real estate financier in the Middle East, which could not declare the results due to procedural reasons, said the DFM in its statement.
In another development, DFM suspended trading of six listed companies that missed the deadline to provide the exchange with full and audited financial statements as per the UAE Securities and commodities Authority (SCA) and DFM requirements.
The suspended companies are International Financial Advisors, Almadina for Finance and Investment Company, United Kaipara Dairies, National Industries Group Holding, National Real Estate and Al Mazaya Holding.
DFM also submitted a detailed report to (SCA) including the disclosure dates and its observations on the disclosures.-TradeArabia News Service