Riyadh – Mubasher: Batic Investments and Logistics Company has named Turki Ibrahim AlRajhi as the Chairman of the board for the coming three years.

The Saudi firm also appointed Feras Khalid Al Bawardi as the Vice Chairman for the same period, according to a bourse disclosure.

Furthermore, Batic Investments announced that Mohammed Saud Al Zamil will be the Managing Director of the company.

The new officials assumed their roles for a new board term that started on 3 April 2023 until 2 April 2026.

It is worth noting that Batic Investments posted net losses after Zakat and tax of SAR 30.83 million in 2022, while its revenues declined to SAR 427.49 million.

As of 31 December 2022, the accumulated losses of the firm hit SAR 39.91 million which represented 6.70% of the SAR 600 million capital.