Riyadh – Mubasher: The board of Abdulmohsen Alhokair Group for Tourism and Development company has approved utilizing the company’s SAR 71.7 million statutory reserves to offset accumulated losses.

The company’s accumulated losses amounted to SAR 77.84 million by the end of the third quarter (Q3) of 2019, representing 14.15% of the company’s SAR 550 million capital, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

This would leave a SAR 6.14 million in accumulated losses, equivalent to 1.12% of the capital.