Alinma Tokio Marine Co. Announces the Decrease of its Accumulated Losses to 27.11 % of the Capital

09 July 2023 03:52 PM

ALINMA TOKIO M 8312 0.31% 12.80 0.04

Element List	Explanation
Introduction	Alinma Tokio Marine Co. Announces the Decrease of its Accumulated Losses to 27.11 % of the Capital
Date of accumulated losses decrease	2023-03-31 Corresponding to 1444-09-09
Amount of the Accumulated Losses	81,333 Thousand Riyal Saudi (after Decrease )
Measures Taken by the Company to Decrease Accumulated Losses	The Company has adopted IFRS 17 (Insurance Contracts) and IFRS 9 (Financial Instruments), as endorsed in Saudi Arabia, starting 1 January 2023, with retrospective application, which has materially changed the presentation of the financial results for periods starting Q1 2023 onwards with the comparative periods restated under the new standards. As a result, company's accumulated losses decreased to SR81,333 thousand which is 27.11% of the Paid-Up Capital.
Auditor's Report showing the Financial Position of the Company after the Decrease of the Accumulated Losses
Additional Information	The procedures and instructions of listed companies in the Saudi stock market, whose accumulated losses amounted to 20% or more of their capital, will continue to be applied.