Riyadh - Mubasher: Saudi Arabian Amiantit Company said its accumulated losses fell to SAR 149.588 million, representing 43.42% of the company’s capital.

The results come as per the legal accountant’s report issued on 6 September, according to bourse disclosure on Monday.

On 27 August, the firm’s board decided to cut the statutory reserves by 30.2% to amortise part of the accumulated losses that stand at SAR 206.884 million.

Hence, a total of SAR 57.296 million was transferred from the reserves, which amount to a total of SAR 189.472 million.