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Saudi SIEC receives SAR 4.2m after court ruling

Saudi SIEC receives SAR 4.2m after court ruling
SIEC closed Monday’s session 0.49% lower at SAR 145
SIECO
4140
0.20% 25.05 0.05

Riyadh – Mubasher: Saudi Industrial Export Co (SIEC) said that the Saudi courthouse has issued a ruling in favor of the company.

SIEC will receive a sum of SAR 4.2 million as a result of this ruling, according to a bourse statement on Monday.

This amount represents the remaining dues of a deal to import livestock from Ethiopia.

In December 2017, a primary ruling was issued in favor of SIEC to regain insurance fees worth SAR 14.05 million out of a total SAR 15 million from Afia company.

At the stock level, SIEC closed Monday’s session 0.49% lower at SAR 145.