Departure of Omani paper chief


8 February 2005 – Muscat (OMN): The general manager of Omani Computer Stationery Industry, R Prabakaran, has resigned for his position, according to a statement issued to the Omani bourse, Muscat Securities Market.

The paper products manufacturer, located 45km from the Omani capital Muscat, posted a net income of 152,591 Omani rials ($396,000) for the first nine months of 2004, up 2.09 per cent on 2003’s figure.

Sales for the same period increased slightly to1.98 million rials, from 1.97 rials in the year-ago period.

At the end of September last year, the company reported total assets of 3.5 million rials, an increase of 14.06 per cent year-on-year.