SCA: H1 2013 PSJCs' financial statement disclosure up to 99.06%

Abu Dhabi: The Emirates Securities and Commodities Authority (SCA) has announced that the rate of disclosure of financial statement by local public joint stock companies for the first half of the current year has reached 99.06%. SCA, in a statement, said the total number of local companies which declared their financial statements for the first half of the year ending 30 June 2013 has reached 117 companies (or 98.32%) out of 119 local public joint stock companies listed on securities markets of the country. 105 local listed PJSCs, out of a total 106, furnished the SCA with their financial statements within the stipulated legal timeframe. Only two companies, a local company a foreign company, are yet to disclose their financial statement for the first half of the year. The SCA praised the companies which made the disclosure within the stipulated legal timeframe and underscored the significance of disclosure in building confidence in the country's securities markets and in shedding light on data and information for investors. – Emirates News Agency, WAM