DFM, ADX achieve 100% compliance in Q1

17/05/2017 05:55 AST

Dubai Financial Market (DFM) announced on Tuesday that its UAE listed companies have showed a 100 percent compliance to disclose their Q1- 2017 results within the deadline of 45 days from the end of the quarter.

Forty-seven UAE public joint stock companies listed on DFM successfully disclosed their quarterly results, with the exception of Al Firdous as its financial year-ends on 31 March, a DFM press release said.

Meanwhile, DFM suspended trading on two dually-listed companies, which missed the deadline to provide the exchange with full and reviewed financial

statements as per the UAE Securities and commodities Authority (SCA) and DFM requirements, namely; Al Madina for Finance and Investment and Agility the Public Warehousing Company.

DFM also submitted a detailed report to (SCA) including the company’s disclosure dates and its observations on the disclosures.

Abu Dhabi Securities Exchange (ADX), has succeeded in achieving 99 per cent compliance regarding the disclosure of first quarter (Q1) 2017 financial statements of its listed public joint stock companies within the deadline of 45 days from the end of the financial period. 65 listed companies out of 66, local and foreign, disclosed their statements within given the time frame.

The combined net profit of all listed companies as of 31st March 2017, has shown an increase of 18.94 percent in comparison to the same period in 2016. The highest recorded increase was in the Services sector with an increase of 444.23 per cent, followed by the Energy sector with an increase of 159.38 per cent.

SHUAA Capital

Abu Dhabi Securities Exchange (ADX), has granted SHUAA Capital Internationala subsidiary of SHUAA Capital a licence to serve as Market Maker on the Exchange.

The number of registered Market Makers on ADX has now reached three, including National Bank of Abu Dhabi and Al-Ramz Capital.

The announcement was made during an event in ADX, organised by the Exchange and attended by senior management from both ADX and SHUAA Capital, as well as members of the UAE investor community.

ADX Chief Executive, Rashed Al Blooshi, commented on the occasion, saying, “This new Market Maker license builds on our recent achievements, and is aimed at diversifying the services provided to both companies and investors. It is also in line with our strategy of attracting and activating a wider range of investors which comes as part of ADX commitment to Abu Dhabi plan.”

The Gulf Today