Mubasher TV
Contact Us Advertising   العربية

Al Imtiaz unit repays $3.2m debts

Al Imtiaz unit repays $3.2m debts
The debt value is worth nearly KWD 959,020
ALIMTIAZ
ALIMTIAZ
-2.67% 47.30 -1.30

Mubasher: Al Imtiaz Investment Group announced that Al Dar Engineering & Construction, a subsidiary of the 87.5%-owned unit Hot Engineering and Construction Co, has repaid debts due to a Gulf bank.

The debt value is worth nearly KWD 959,020 ($3.2 million), according to a bourse statement disclosed on Wednesday.

The financial impact from this debt repayment will be reducing the indebtedness value in Al Imtiaz’s financial position, yet it will not affect the income statements of Hot Engineering and Construction Co.