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Barwa to liquidate subsidiary

Barwa to liquidate subsidiary
Photo Credit: Arabianeye-Reuters
Barwa
BRES
-0.96% 2.87 -0.03

Doha-Mubasher: Barwa Real Estate decided to liquidate Nuzul Qatar Company and assign Adel Abdulla Alabdulghani as a liquidator with all the required privileges to complete this task, according to a filing to Qatar Stock Exchange.

The statement showed that this company has been dormant and is not generating any revenues.

The company previously reported profits of QAR 3.2 million ($878 million) in the first quarter of 2015, compared to QAR 265 million ($72.7 million) in Q1-14.