Securities & Commodities Authority (SCA) has announced that the rate of disclosure of general companies of their local interim financial statements for the quarterly period ended September 30 of this year amounted to 98.2 percent.

The total number of listed companies that supplied the SCA with the financial statements within the specified legal period were 119 companies out of 127 listed companies in the market and registered with the Authority- with total disclosure of 94 percent.

SCA said that the total number of local companies that had announced their interim financial statements for the quarterly period ended 30 September, reached 106 companies of the 108 public shareholding companies listed on the local stock markets in the country.

It noted that the number of companies that did not disclose their financial statements for the interim quarterly financial period during the specified legal period, were two local and six foreign companies.

SCA commended in a statement the companies that initiated declaration of disclosures within the specified legal period, stressing the critical importance of disclosure in promoting confidence in the securities markets in the State and clarifying the data and information for investors.
 

We accept Guest Posts