Code of Governance Report
In the Sultanate of Oman, Capital Market Authority (“CMA”) implemented the Code of
Governance by issuing “Code of Corporate Governance” for “Muscat Securities Market listed
Companies” vide its Circular No. 11/2002 on June 3, 2002.
In July 2015 a new Code of Corporate Governance for Public Listed companies was issued
which was applicable from 1st July 2016.
Sohar Power believes that the Code of Corporate Governance is an effective tool to
improve operational and financial performance of listed companies. The Code of Corporate
Governance ensures accountability, which leads to transparency and ensuring impartial
treatment to all investors. This ultimately increases the confidence of shareholders and
prospective investors in the results.
We confirm that we are complying with the Code and that we are aiming at the highest
standards of governance and at enhancing our image as a good corporate citizen.
In compliance with the Annex 3 of the above Code, Sohar Power is including this separate
chapter on Corporate Governance in its annual financial statements for the year ended
December 31, 2017.