DFM firms achieve 100pc compliance
Dubai, May 16, 2012
Dubai Financial Market (DFM) said its UAE-listed companies have shown a 100 per cent compliance in disclosing their first quarter financial results within the deadline of 45 days from the end of the period.
Out of the 44 UAE public joint stock companies listed on DFM, 41 of them successfully disclosed their quarterly results by March end, with the exception of Amlak Finance, Alfirdous and United Kaipara Dairies due to procedural reasons, said a DFM statement.
In another development, DFM said it has suspended trading of three foreign companies -National Industries Group Holding, Mazaya Holding and Almadina for Finance & Investment - for missing the deadline to provide the exchange with the financial statements as per the UAE Securities and commodities Authority (SCA) and DFM requirements.
DFM also submitted a detailed report to (SCA) including the disclosure dates and its observations on the disclosures.-TradeArabia News Service