Muscat – Mubasher: The board of Al Madina Investment Co SAOG (AMII) gave the green light on Monday to merger with National Mass Housing Co.
The board approved a proposal submitted by 70%-owned subsidiary Shaden Development Co. and 7%-owned National Mass Housing, as regards merging their operations after obtaining the approval of their respective shareholders.
Al Madina’s unaudited financial results for the quarter ended 31 March 2015 showed OMR 1.645 million net profits, compared with OMR 2.215 million in the year-ago period.
