Posted on August 30, 2014
The brand Nawras, which residents have been accustomed to since 2005, will soon be history, and instead will take the name Ooredoo later this year. 

This is part of a rebrand exercise by Omani Qatari Telecommunications Company, or Nawras, which has convened a meeting of its shareholders on September 9. According to the memorandum given to shareholders, the meeting is to give approval to the proposal to get the new brand instead of Nawras for a fee. And the licensor is Qatari Telecommunications, or Qtel Group, which is a wholly-owned subsidiary of Ooredoo.

The change in brand is to happen by the last quarter of the year, according to sources in Nawras. “This is part of the global initiative of Ooredoo where it has controlling stake like Nawras in Oman, Qtel in Qatar, Wataniya in Kuwait, the Tunisiana in Tunisia, Indosat in Indonesia and Nedjma in Algeria. And this year, it will be completed in Oman,” the official said. According to the memorandum, the board of directors, which met on July 22, recommended that the company enter into the agreement and there would be an annual fee equivalent to a percentage of the revenue. It would exclude the intercompany revenue between Ooredoo Group operating companies. Though the rebranding will happen this year, the fee will be levied only from October 2016.

Qatar Airways NY
 
There would be no fee if the net profit in each calendar year is less than 35 million rials, 0.5 per cent of the revenue if the profit is in the 35-38m-rial range, 1 per cent if the profit is in 38.01-42 million-rial range and 1.5 per cent if the net profit is in above 42 million rials. It has also been clarified that net profit would be calculated after deducting the licence fee. The validity of the agreement is ‘indefinite’ unless the agreement is terminated on grounds like material breach or insolvency. 
The agreement was considered by the audit committee which had suggested changes that were reflected before being presented to the board, the company said. According to analysts, the fee was very reasonable and the mileage got through a brand present in different countries would prove beneficial to investors.
 
source: Oman Tribune

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