Riyadh — Mubasher: Abdullah Abdul Mohsen Al Khodari Sons on Sunday announced rescheduling a SAR 135 million sharia-compliant loan secured by Al Khodari Investment Holding Company.
Al Khodari ascribed the loan restructuring to the availability of cash inflows at the company, according to a filing to the Saudi Stock Exchange (Tadawul).
The tenure of the 38-month loan after rescheduling stands at six months.
In February, Al Khodari renewed a SAR 345 million sharia-compliant loan with Alawwal Bank for a year.
During the full-year 2018, the Saudi firm reported accumulative losses of SAR 1.107 billion, representing 198.52% of the capital.
The company attributed the previous year losses to the suspension of several projects for various periods of up to two years.