Tourism Enterprise Co (4170)

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News

18 May 2025 03:43 PM Shams records 88% decline in Q1-25 net profits

Riyadh - Mubasher: Tourism Enterprise Company (Shams) logged net profits worth SAR 726,231 in the first quarter (Q1) of 2025, marking an 87.98% year-on-year (YoY) drop from SAR 6.04 million. Meanwhile, the revenues grew by 1.67% YoY to SAR 1.41 …

Financial Results

4 August 2024 02:08 PM Shams posts higher profits in H1-24; revenues down

Riyadh – Mubasher: Tourism Enterprises Company (Shams) generated a 125.64% year-on-year (YoY) leap in net profit to SAR 6.91 million during the first half (H1) of 2024, compared to SAR 3.06 million. The revenues totalled SAR 4.20 million in H1-24, …

Financial Results

30 May 2024 09:03 AM Shams names Chairman, Vice Chairman

Riyadh – Mubasher: The board members of Tourism Enterprises Company (Shams) appointed Khaled Abdul Aziz Al Bawardi as the Chairman for the next three years. Abdullah bin Omar Al Suwailem, who was named as the company’s CEO, was announced as the …

Management Decisions

29 April 2024 01:45 PM Shams appoints Al Suwailem as new CEO

Riyadh – Mubasher: Tourism Enterprises Company (Shams) named Abdullah bin Omar Al Suwailem as its new CEO on 28 April 2024, according to a bourse disclosure. Al Suwailem succeeded Mohannad bin Saleh Al Onaizan who refused to renew his contract due …

Management Decisions

8 November 2023 06:35 PM Shams turns to SAR 6m net profit in 9M-23

Riyadh – Mubasher: Tourism Enterprises Company (Shams) recorded a net profit after Zakat and tax of SAR 5.91 million in the first nine months (9M) of 2023, compared to a net loss of SAR 1.23 million in the same period of 2022. The company …

Financial Results

5 June 2023 10:11 AM Shams names Al Onaizan as new CEO

Riyadh – Mubasher: Tourism Enterprises Company (Shams) appointed Muhannad bin Saleh Al Onaizan as its new CEO on 4 June. Shams highlighted that Al Onaizan will resume his new position on 1 July, according to a bourse filing. The CEO holds a …

Management Decisions

1 December 2022 04:21 PM Shams terminates SAR 735m MoU with Saudi Shuaa

Riyadh – Mubasher: Tourism Enterprises Company (Shams) and Shuaa Capital Saudi Arabia Company agreed to end the memorandum of understanding (MoU) that was penned in February 2022 at a value of SAR 735 million. The two entities failed to reach an …

Mergers and Acquisitions

23 November 2022 02:50 PM Shams obtains shareholders’ approval for 1000% capital raise

Riyadh – Mubasher: The shareholders of Tourism Enterprises Company (Shams) agreed to increase its capital to SAR 578.23 million from SAR 52.56 million, according to a bourse filing. Shams will offer a rights issue worth SAR 525.66 million at a …

Management Decisions

24 October 2022 09:48 AM CMA greenlights Shams’ 1,000% capital hike

Riyadh – Mubasher: The Capital Market Authority (CMA) approved Tourism Enterprises Company’s (Shams) request to increase its capital by SAR 525.66 million through a rights issue, according to a bourse filing. Shams will carry out the 1,000% …

Companies Investments

2 March 2022 01:44 PM Shams inks non-binding MoU with Saudi Shuaa Capital to acquire hotels

Riyadh – Mubasher: Tourism Enterprise Company (Shams) has signed a non-binding memorandum of understanding (MoU) with Shuaa Capital Saudi Arabia to acquire three hotels in the Kingdom for a total value of SAR 735 million, excluding real estate …

Companies Investments

17 February 2022 09:21 PM Shams' board proposes capital hike via rights issue

Riyadh – Mubasher: The board of Tourism Enterprises Company (Shams) has recommended a capital increase of 1,000% through a rights issue amounting to 10 shares for every owned share.   The capital will stand at SAR 578.23 million distributed over …

Corporate Actions

22 September 2021 00:48 PM Shams appoints financial advisor for capital cut

Riyadh – Mubasher: Tourism Enterprise Co. (Shams) has appointed Adeem Capital to be the financial advisor for its capital reduction plan. Adeem has been appointed on 21 September 2021, as a replacement to a previous financial advisor whose …

Corporate Actions

24 August 2021 04:48 PM Shams’ board proposes capital cut, raise

Riyadh – Mubasher: The board of Touristic Enterprises Company (Shams) recommended on 24 August to reduce the capital by cancelling 4.89 million shares to offset accumulated losses worth SAR 48.93 million. The capital will stand at SAR 52.56 …

Corporate Actions

30 May 2021 04:32 PM Shams appoints Chairman, Vice Chairman

Riyadh – Mubasher: Tourism Enterprise Company (Shams) has appointed Abdul Ilah bin Nasir Al Zarah as the Chairman of the board for the three-year term that started on 28 May 2021. The company also announced the appointment of Abdullah bin Omar Al …

Board of Directors

19 April 2021 10:33 AM Shams’ board recommends SAR 34.5m capital cut

Riyadh – Mubasher: The board of Tourism Enterprise Company (Shams) proposed decreasing the capital by SAR 34.51 million to offset the accumulated losses that accounted for 34% of the capital, according to a bourse filing on Monday. The company …

Board of Directors

12 April 2021 02:22 PM Shams Tourism Enterprises appoints new CEO

Riyadh – Mubasher: Shams Tourism Enterprises Company announced the appointment of Ali Abdullah Al Selham as the new CEO starting 11 April 2021, according to a disclosure to Tadawul on Monday. Farid Ibrahim has been the Acting CEO over the past …

Corporate Actions

8 June 2020 06:06 PM Tourism Enterprise turns to losses in Q1-20

Riyadh – Mubasher: Tourism Enterprise Company recorded net losses of SAR 2.69 million in the first quarter (Q1) of 2020, versus a net profit of SAR 1.21 million in the corresponding quarter of 2019. The company attributed the negative results to …

Financial Results

7 November 2019 04:33 PM Shams trims Q3 losses by 64%

Riyadh – Mubasher: Tourism Enterprise Company (Shams) reported a 63.5% decrease in its losses during the third quarter of 2019, recording SAR 273,226. Revenues of the Saudi-based firm advanced by 7.4% to SAR 4 million in Q3-19, compared to SAR 3.7 …

Company News

18 September 2019 06:50 PM Shams’ board proposes capital decrease

Riyadh – Mubasher: The board of Tourism Enterprise Company (Shams) has recommended a capital decrease, according to a bourse statement released on Wednesday. If approved, the recommendation will see the company’s capital decline to SAR 80.69 …

Board of Directors

7 July 2019 02:08 PM Shams withdraws from Hemaia Group’s acquisition deal

Riyadh – Mubasher: The board of directors of Tourism Enterprise Company (Shams) decided to withdraw from the acquisition agreement of Hemaia Group. The deal was cancelled due to financial liabilities on Hemaia Group, according to Shams’ statement …

Mergers and Acquisitions

24 June 2019 11:42 AM Shams acquires 53% stake in Hemaia Group

Riyadh – Mubasher: Tourism Enterprise Company (Shams) has finalised the acquisition of a 53% stake in Hemaia Group through raising Hemaia’s capital by SAR 10 billion.  According to the transaction, the capital increase will be paid in cash from …

Management Decisions

15 May 2019 00:07 PM Shams extends acquisition MoU for 60 days

Riyadh – Mubasher: Tourism Enterprise Company (Shams) on Wednesday announced that it has extended a memorandum of understanding (MoU) to acquire of Saud Al-Madaj Group’s stake in three firms. Shams has extended the deal for an extra 60 days, the …

Mergers and Acquisitions

8 May 2017 04:59 PM Shams turns to losses in Q1

Riyadh - Mubasher: The financial statement of Tourism Enterprises Company (Shams) showed that the company achieved losses of SAR 1 million in the first quarter of 2017 versus profits of SAR 643,200 in the same period last year. The company said in …

Financial Results

28 August 2016 00:05 PM Five KSA-listed firms to adopt IFRS

Riyadh – Mubasher:  Five Saudi-listed companies announced their plans to adopt the International Financial Reporting Standards (IFRS) before the end of 2016. The five companies are: Bishah Agriculture Development, Tourism Enterprises Company …

Management Decisions

16 August 2016 00:24 PM Tadawul’s hotel & tourism sector Q2 profit down 27%

By: Thabet Shehata Riyadh – Mubasher: Profits of hotel and tourism companies listed on the Saudi Stock Exchange (Tadawul) declined in the second quarter of the fiscal year 2016 by 26.9% to SAR 348.87 million ($93 million), compared to SAR 477.35 …

Sector Reports