Al Hassan Engineering’s board has decided to take a series of new steps, including sale of land, efforts to recover additional cost and recapitalisation of Abu Dhabi subsidiary, to improve its financial position and strengthen balance sheet. In order to offset Al Hassan Engineering’s loss, the company and the major shareholders are expected to enter into a sale and purchase agreement for a vacant land in Ghala for OMR3.2 million. All efforts are also taken to recover additional costs from clients, including involvement of third party/legal dispute resolution process. (Times of Oman)