Tourism Enterprise Co (4170)

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News

19 July 04:01 PM Shams elects board of directors for new term

Riyadh - Mubasher: The ordinary general meeting (OGM) of Tourism Enterprise Company (Shams) approved the dismissal of the company’s current board of directors. The meeting, convened in Al Khobar with a 41.30% shareholder attendance rate, followed …

Corruption

19 July 02:31 PM Shams names Chairman, Vice Chairman

Riyadh - Mubasher: The board of Tourism Enterprise Company (Shams) has appointed Nasser bin Khalaf Al Barrak as the Chairman. The decision, made on 17 July 2026, also included the appointment of Majed bin Nawar Al Otaibi as Vice Chairman and …

Company News

19 July 12:13 PM Shams forms new audit committee

Riyadh - Mubasher: Tourism Enterprise Company (Shams) announced that its board of directors approved the formation of the audit committee for the current term on 17 July 2026. The appointments are effective from the date of the board decision, …

Board of Directors

19 July 08:37 AM Shams appoints Al Otaibi as new CEO

Riyadh - Mubasher: The board of Tourism Enterprise Company (Shams) approved the appointment of Majed bin Nawar Al Otaibi as the company’s new Chief Executive Officer (CEO). The appointment was effective as of 17 July 2026, following a board …

Board of Directors

15 July 01:16 PM Shams announces resignation of 3 independent members

Riyadh - Mubasher: Tourism Enterprise Company (Shams) announced the resignation of three independent members from its board of directors and various sub-committees. The resignations, submitted for personal reasons, became effective on 14 July …

Company News

14 July 08:42 PM Tadawul approves termination of market making for 3 listed companies

Riyadh - Mubasher: The Saudi Exchange (Tadawul) has approved a request from Morgan Stanley KSA to terminate its market-making activities for three listed companies, effective on 15 July 2026. The companies affected by the cessation of …

Management Decisions

12 July 08:34 AM Shams launches e-voting ahead of OGM

Riyadh - Mubasher: Tourism Enterprise Company (Shams) announced the start of electronic voting for its Ordinary General Meeting (OGM) following an initial invitation issued on 24 June 2026. Shareholders registered in the Tadawulaty services portal …

Company News

25 June 06:26 AM Shams’ shareholders to vote on board discharge during next OGM

Riyadh - Mubasher: Tourism Enterprise Company (Shams) has officially invited its shareholders to an Ordinary General Assembly meeting scheduled for 16 July 2026, to vote on a high-stakes proposal to dismiss the current Board of Directors. The …

Company 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 …

Board of Directors

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 …

Board of Directors

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 …

Companies Investments

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% …

Board of Directors

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 …

Management Decisions

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 …

Corporate Actions

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 …

Corporate Actions

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