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News

4 April 2024 03:01 PM Arabian Drilling renegotiates contract with Aramco

Riyadh – Mubasher: Arabian Drilling has announced that it is in talks with Saudi Arabian Oil Company (Aramco) concerning contract suspensions of three of its offshore rigs. The suspensions could last up to a year, according to a bourse filing. …

Companies Investments

4 April 2024 02:12 PM Jamjoom Pharma’s board proposes SAR 105m dividends

Riyadh – Mubasher: The board of Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) recommended the distribution of SAR 105 million in cash dividends for 2023. The suggested dividends amount to SAR 1.50 per share to be distributed to 70 …

Cash Dividends

4 April 2024 01:21 PM Almuneef unveils CEO’s resignation, dividends

Riyadh – Mubasher: Almuneef Company for Trade, Industry, Agriculture and Contracting announced the resignation of its CEO, Hisham Saleh Nasser Al Tuaimi. Al Tuaimi resigned from his position, on 3 April 2024, due to his health conditions, …

Board of Directors

4 April 2024 11:45 AM Riyad Bank starts assessing potential IPO of Riyad Capital

Riyadh – Mubasher: Riyad Bank’s board decided to start the assessment and preparation of a possible Initial Public Offering (IPO) and listing of its subsidiary, Riyad Capital, on the Main Market of the Saudi Exchange. The bank announced that it …

Banking and Finance

2 April 2024 04:54 PM Al Hammadi Holding unveils SAR 124.5m sale deal

Riyadh – Mubasher: Al Hammadi Holding sold land in Riyadh to Emmar Ocean Company, with a total price of SAR 124.60 million on 2 April 2024. Located in Al Rayyan District, the land spans 35,600 square metres, according to a bourse disclosure. Emmar …

Companies Investments

2 April 2024 01:03 PM Ekttitab Holding’s accumulated losses cross 65.5% of capital

Mubasher: Ekttitab Holding incurred accumulated losses valued at KWD 20.95 million at the end of the fourth quarter (Q4) of 2023, according to a bourse disclosure. The registered accumulated losses, which represent 65.76% of the paid-up capital, …

Financial Results

1 April 2024 06:59 PM Seera unveils key board appointments

Riyadh – Mubasher: Seera Group Holding has announced the appointment of the Chairman, the Vice Chairman, the Managing Director, and the Acting CEO upon a board meeting held on 1 April 2024. The company elected Mohammed bin Saleh AlKhalil as the …

Corporate Actions

1 April 2024 04:56 PM GFH Partners injects $450m in US real estate sector

Mubasher: GFH Partners Limited, a subsidiary of GFH Financial Group, has invested $450 million in the US real estate sector between the fourth quarter (Q4) of 2023 and Q1-24. In the Medical Clinics sector, GFH Partners has a portfolio of assets …

Real estate

1 April 2024 04:15 PM Cenomi Retail mulls 91% capital reduction

Riyadh – Mubasher: The board members of Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail) recommended a 91.28% capital cut to SAR 100 million from SAR 1.14 billion. The board proposed the capital reduction, on 31 March 2024, to offset the …

Board of Directors

1 April 2024 03:50 PM EIC’s unit pens SAR 158m deal with SEC

Riyadh – Mubasher: WESCOA and Saudi Transformers Company, a subsidiary of Electrical Industries Company (EIC), penned agreements valued at SAR 158 million with Saudi Electricity Company (SEC). The subsidiary will supply electrical equipment to SEC …

Companies Investments

31 March 2024 06:57 PM Cenomi Retail turns to net losses exceeding SAR 1bn in 2023; accumulated losses unveiled

Riyadh – Mubasher: Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail) reported net losses worth SAR 1.11 billion in 2023, against net profits amounting to SAR 36.90 million in 2022. The negative financial results last year were mainly driven by SAR …

Financial Results

31 March 2024 03:13 PM SPIMACO’s net loss plunges 98% YoY in 2023

Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) posted a 98% year-on-year (YoY) drop in net loss to SAR 3 million in 2023 from SAR 171 million. Revenues jumped 16% YoY to SAR 1.65 billion last year …

Cash Dividends

31 March 2024 02:13 PM Maharah’s net profit shrinks 15% YoY in 2023; dividends recommended

Riyadh – Mubasher: The net profit of Maharah Human Resources Company declined by 14.83% year-on-year (YoY) to SAR 96.34 million in 2023 from SAR 113.12 million. Revenues grew 12.26% YoY to SAR 1.89 billion last year from SAR 1.68 billion, …

Financial Results

28 March 2024 06:28 PM Amlak International to raise capital by 12.5% via bonus shares upon regulatory nod

Riyadh – Mubasher: The Capital Market Authority (CMA) approved for Amlak International Finance Company to increase its capital by 12.50% or SAR 113.25 million through the issuance of 11.32 million bonus shares. The company will issue one bonus …

Management Decisions

28 March 2024 05:42 PM Yamama Cement obtains SAR 800m financing from Alinma Bank

Riyadh – Mubasher: Yamama Cement Company has received Sharia-aligned banking facilities over three tranches from Alinma Bank at a total value of SAR 800 million. The largest long-term funding is worth SAR 500 million and holds a duration of 10 …

Banking and Finance

27 March 2024 04:23 PM Tam Development mulls 12% cash dividends for 2023

Riyadh – Mubasher: Tam Development Company unveiled the board’s proposal to disburse cash dividends amounting to SAR 4.05 million, representing 12.30% of the capital, for 2023. The Saudi firm will pay a dividend of SAR 1.23 per share for 3.29 …

Board of Directors

27 March 2024 02:44 PM Astra Industrial’s board endorses SAR 200m dividends for 2023

Riyadh – Mubasher: The board of Astra Industrial Group has proposed the distribution of SAR 200 million in cash dividends for 2023. The recommended dividends are equivalent to SAR 2.50 per share, to be paid to 80 million eligible shares, according …

Cash Dividends

27 March 2024 00:30 PM CMA greenlights Alinma Bank’s capital raise

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the capital hike of Alinma Bank to SAR 25 billion from SAR 20 billion by granting one bonus share for every four owned shares. The lender will capitalise SAR 5 billion from the …

Banking and Finance

27 March 2024 11:56 AM EIC’s unit inks contract to supply transformers to Aramco

Riyadh – Mubasher: Saudi Power Transformers Company, a subsidiary of Electrical Industries Company (EIC), has signed a SAR 125.77 million contract with Larsen &Toubro Saudi Arabia. The agreement includes a purchase order for the supply of …

Companies Investments

27 March 2024 11:41 AM Aslak’s net profit plummets 64% YoY in 2023

Riyadh – Mubasher: United Wire Factories Company (Aslak) logged a 64.02% year-on-year (YoY) drop in net profit to SAR 20.40 million in 2023 from SAR 56.70 million. Revenues tumbled 22.76% YoY to SAR 792.80 million last year from SAR 1.02 billion, …

Financial Results

26 March 2024 00:11 PM Seera ends 2023 profitable; revenues jump 56% YoY

Riyadh – Mubasher: Seera Group Holding turned to profitability in 2023, registering a net profit of SAR 265 million, against a net loss of SAR 46 million a year earlier. Revenues surged 55.68% year-on-year (YoY) to SAR 3.29 billion last year from …

Financial Results

26 March 2024 11:50 AM Cenomi Centers’ net profit surges 49% YoY in 2023; dividends approved

Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) logged a 48.77% year-on-year (YoY) surge in net profit to SAR 1.50 billion in 2023 from SAR 1 billion a year earlier. Revenues grew 2.13% YoY to SAR 2.25 billion last year from SAR 2.20 …

Financial Results

25 March 2024 03:45 PM Saudi Networkers Services to pay SAR 14m dividends for H2-23

Riyadh – Mubasher: The board of Saudi Networkers Services Company (SNS) proposed cash dividends amounting to SAR 14.10 million, representing 23.50% of the capital, for the second half (H2) 2023. The Saudi firm will pay a dividend of SAR 2.35 per …

Financial Results

25 March 2024 02:49 PM National Industries reports KWD 47m consolidated profit in 2023

Mubasher: The consolidated net profit after tax and directors’ remuneration of National Industries Group Holding (NIG) surged to KWD 46.77 million in 2023 from SAR 33.92 million a year earlier. Revenues from sales and contracts with customers …

Financial Results

25 March 2024 02:13 PM BCI’s net profit tumbles 37% YoY in 2023

Riyadh – Mubasher: The net profit of Basic Chemical Industries Company (BCI) plunged 37.53% year-on-year (YoY) to SAR 43.98 million in 2023 from SAR 70.40 million. Revenues grew 9.85% YoY to SAR 741.11 million last year from SAR 674.67 million, …

Financial Results