Galfar BoD subcommittee announces plans to benefit stakeholders

August 24, 2014 12:45 am

Galfar Engineering and Contracting Company announced that its recently formed Supervisory and Follow-up Sub- committee will work towards the benefit of the shareholders at large and for the smooth functioning of the organisation in particular, according to the management. The Board of Directors (BoD) of the company had informed the Muscat Securities Market (MSM) about the formation of the aforesaid subcommittee in a statement after a meeting held on August 10 at its premises, Oman Daily Observer reported. “The newly formed Supervisory and Follow-up Subcommittee within the Board of Directors of the company will only enhance its operations by helping the executive management by giving guidelines on how to properly manage the firm”, a source at the Group’s Chairman’s office told the Observer. The proposed charter of subcommittee is still at the draft stage and it will take time before it could materialise the same, he said.