MUSCAT:

A number of public shareholding companies listed on Muscat Securities Market (MSM) have started disclosing substantive information about the damages caused by Cyclone ‘Gonu’, which struck the Sultanate last week.

Muscat Gas Co. announced that the cooking gas plant in Sur has been affected badly by the cyclone.

The company said in a statement posted on the MSM website on Sunday that the initial estimates indicate that the company’s loss will be around RO230,000 and it will take at least three months to repair the damages to its plant.

Shell Oman Marketing Co. stated in a statement that the company did not suffer any kind of property loss anywhere in the Sultanate.

The company added that the fuel delivery is limited owing to the state of the roads and communication system.

Only three out of the 123 stations have suffered considerable damages, and the work at these stations will be halted for several weeks.

National Bank of Oman said that based on the initial assessment, there were moderate damages to some of its branches in the Muscat, Al Sharqiyah regions.

Oman Cement Co. said that the company was not affected directly by the cyclone but the function of the plant was affected due to various reasons.

The statement said the losses are estimated at RO400,000.

Source: Oman Tribune

WOW, that's quite alot :S

The Good news is that MSM was not severely affected by the Cyclone Gonu.. :angel:

As a part of MSM policies, the listed companies have to report the losses incurred.. The main reason is that the investors have the right to know the financial condition and the degree of damage to the companies they are investing in :cool:

Hmm.. I would care about only one thing, the electronics in Uraimi complex..! lol Any idea?

Hmm.. I would care about only one thing, the electronics in Uraimi complex..! lol Any idea?

Unfortunately the Uraimi Complex was badly damaged.. the whole of the basement floor was flooded.. so basically the electronics, computer, sony, canon and the music shops are all affected.. still donno the money value of damages in those shops.. but guessing from wht i saw its completely gone :bored:

SlowChemical if someone calculates the damages in general, trust me, it will be in billions of rials. Its not only the losses caused by the damages, but the halt in most of the businesses for days/weeks/months will also have a huge impact.

Btw, any idea whether those who lost their houses will get any financial help? After all, it is the government's responsibility that it allowed these people to build houses in river beds!

As far as i know.. the government is yet to announce any financial aid for the cyclone victums.. the help that is provided now is with food, water and maybe sheltter.. but who will pay for the damages?? thats still to be looked at..

What's worse is that the insurance companies are trying to avoid paying for the damages.. for some reason having full insurance its not enough.. you need to be covered against natural disaster.. and apparently that is not included in the full insurance.. what a scam :mmhmm:

Unfortunately the Uraimi Complex was badly damaged.. the whole of the basement floor was flooded.. so basically the electronics, computer, sony, canon and the music shops are all affected.. still donno the money value of damages in those shops.. but guessing from wht i saw its completely gone :bored:




yeah I heard that too, and the electronics shops are in that flood :cry: :no:
but many say that the owners took almost everything out.. I hope its true!

^^ I'm just hoping that they are that smart.. :S Thx SlowC for the info..

hey i heard this lil rumor goin on..it sayz that tha sultan qaboos will help every1 financially,is that true??coz it aint our fault tha cyclone hit us

What about a long term plan of not constructing malls & residential complexes in wadis?

What about the prices of real properties in areas mostly affected by Gonu? Let's take Al-Ansab as an example, this location was one of the desired locations for building a villa, the lands were costing between 35,000 to >60,000 O.R, I reckon the prices will go down

Sting and Solidus, Share3 il 7ub will be open next week. they are working on it 24 hrs and its Almost Done!! go and see it now its like rebuilt already! but needs final finishing...

Anyways, we might talk alot about mass losses, what about Human losses?
human losses?
the TV lied alot this week, i learned not to believe a word they say after any disaster. 50 human losses is a joke. losses are way way more than 400 souls sadly, citizens and non citizens... counted by volunteers who travelled to collect accurate data.

All the areas seriously flooded will surely lose its value. Muscat was amazingly saved thanks to Allah. So imagine what could have happened if, god-forbid, Gonu had not weakened and the dams had broken!

MoZeS, I knew Share3 El Hobb (Love Road) would be a priority :p

Anyways, regarding the number of deaths, I agree 40-50 is not true but I will rather not guess the real numbers.

May allah bless theirs souls.

.. i think the biggest hit will be on insurance companies!! .. i wonder how it will be sorted out between them and 2nd parties.

why doesnt oman accept any help from other countries ? :os

although I can't agree more with those who implied that the media is hiding the correct number of the death situations, I don't think this thread is to discuss the human losses.. It's in the Businiess and Economic sabla and should discuss the thing only economically.. unless it was opened in the local sabla.

why doesnt oman accept any help from other countries ?

The help from neighbouring & other friendly countries is much appreciated, but for the time being (at that time) our nation was self sufficient to deal with the disaster & the others were not rejected but simply told to stay on stand by

hey i heard this lil rumor goin on..it sayz that tha sultan qaboos will help every1 financially,is that true??coz it aint our fault tha cyclone hit us

Well.. his Majesty has already instructed to establish a fund to collect donations for the affected people.. and he personally started the donations with 7 million rials.. this fund is open for everyone to participate in..

I donno how much this fund can cover.. i guess its priority for the residential losses.. as for the commercial losses.. its still to be looked at so far.. lets hope they do something about it soon.. :bored:

Today, Ministry of National Economy came to visit our house to check the damages. They are making a census to count the damages. I thought that was fast and good :)

AP, they came on their own or you got some WASTA :p?

Today, Ministry of National Economy came to visit our house to check the damages. They are making a census to count the damages. I thought that was fast and good :)
They are starting with Bowsher and Seeb, & will be going on with the other wilaiats(states) respectively.

The help from neighbouring & other friendly countries is much appreciated, but for the time being (at that time) our nation was self sufficient to deal with the disaster & the others were not rejected but simply told to stay on stand by

aha
so after a while ... other countries can help us ?

AP, they came on their own or you got some WASTA :p?

They came on thier own and got my husband's number from the neighbour (since we still are not back to our house) .. my husband insisted that we dont have much losses and its ok they dont need to come but they insisted to come .. no wasta at all ;)

Today, Ministry of National Economy came to visit our house to check the damages. They are making a census to count the damages. I thought that was fast and good :)

What the government is doing now is that they are trying to figure out the value of damages through the census that they are doing to the damaged property..

Actually i heard that there is a specific form to be filled to claim the damages in your residence.. some companies were good enough to help their own employees.. an example i know is that HSBC bank gave OMR 1000 to each of their employees.. whether they were affected by Gonu or not :cool:

Thats great AP. Good to know something going on without wasta :p

SlowChemical, are you sure about the HSBC thing?

Slowchemical, yes the guy had a form filled and gave us a copun number just in case we have any follow-up on our case.

Sting, Omanis just like to beleive in wasta but in actual terms lots of things move faster without wasta ;)

Thats great AP. Good to know something going on without wasta :p

SlowChemical, are you sure about the HSBC thing?

Well i heard this news from two different sources.. so i guess its true.. maybe you can confirm it to us if u still have your old contacts with HSBC :mmhmm:

OK SlowChemical, I will try to get in touch with someone there and confirm. But to be honest, its unlikely.