Luminex suspends Oman subsidiary operations

Thursday, 22 October 2026 00:25 - - {{hitsCtrl.values.hits}}

Books Rs. 195 m provision on suspension
Cites economic and business conditions in Oman, ongoing war situation and resulting uncertainties

Luminex PLC yesterday said it has temporarily suspended the business operations of its Oman-based subsidiary Luminex International LLC with immediate effect, and will recognise a provision of Rs. 195 million in its financial statements in connection with the move.

The Board said it took the decision following a comprehensive review of the subsidiary’s business operations, financial position and future commercial prospects. It said it had considered the prevailing economic and business conditions in the Sultanate of Oman, the ongoing war situation and the resulting uncertainties, along with its assessment of the subsidiary’s future commercial viability and business prospects.

Having evaluated these factors, the Board concluded that continuing the subsidiary’s business operations is not commercially viable under the prevailing circumstances. The company said it will continue to monitor the prevailing circumstances and assess the future position of the subsidiary as appropriate.