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The number of shares will rise from 16m shares to 20m shares
31 March 05:49 PM CMA agrees on Al Moammar's capital hike request
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved the request of Al Moammar Information Systems Co to raise its capital to SAR 200 million from SAR 160 million. The increase in the capital will be through the issuance of …
Quarterly cash dividends amount to a total of SAR 655.9 million
31 March 04:17 PM Kingdom Holding recommends dividends for 2020
Riyadh – Mubasher: Kingdom Holding Company's board of directors has recommended the distribution of quarterly cash dividends from retained earnings during 2020 at 1.25%, 5% for the full year of the shares’ nominal value. The dividends will be …
Aramco has set the selling price of propane for April futures at $230 per tonne
31 March 02:55 PM Saudi Aramco lowers propane price to $230/ton in April
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the selling price of propane for April futures at $230 per tonne, down from $430 per tonne in March. Aramco further announced, as cited by Reuters, that the selling price of …
Losses stood at SAR 338.47 million in 2019
30 March 01:08 PM Saudi Amiantit’s loss widens 45% in 2019
Riyadh – Mubasher: The losses of Saudi Arabian Amiantit Company surged by 45% year-on-year (YoY) in the fiscal year (FY) 2019. The Saudi firm suffered a net loss after tax and zakat worth SAR 338.47 million, compared to SAR 233.53 million in 2018, …
The net loss amounted to SAR 179.77 million last year
30 March 10:20 AM Tabuk Agricultural losses at SAR 180m
Riyadh – Mubasher: Tabuk Agricultural Development Company reported an increase in net losses in 2019 by 186.68%, as shown by the company’s annual financial results for 2019. The annual net loss after zakat and tax amounted to SAR 179.77 million …
The agreement was penned with Rawabi Marketing International Company Limited
30 March 09:50 AM Al Kout inks $8m contract to supply Saudi Arabia with hydrochloric acid
Mubasher: Al Kout Industrial Projects has signed a one-year contract to supply Saudi Arabia with 70,000 tonnes of hydrochloric acid at a total value of $7.7 million. The agreement was penned with Rawabi Marketing International Company …
The company is currently completing all the relevant legal paperwork
29 March 11:42 AM Al Mommar inks deal to acquire 75% stake in Egyptian firm
Riyadh – Mubasher: Al Mommar Information Systems (MIS) signed a deal to acquire 75% of the shares of Egypt-based Fingerprint Consultancy. The company is currently completing all the relevant legal paperwork, according to a statement to the Saudi …
Both companies will establish a Saudi closed joint stock company
29 March 10:59 AM Advanced signs agreement for SAR 6.75bn petrochemical plants
Riyadh – Mubasher: Advanced Petrochemical Company announced that its subsidiary, Advanced Global Investment Company, has inked a partnership agreement with SK Gas Petrochemical, SK Gas Company's subsidiary. Under the agreement, both companies will …
Net losses amounted to SAR 143 million in 2019
26 March 04:23 PM Alhokair Group losses down 88% in 2019
Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development Company reported an increase in net losses by 88% last year, as shown by the company’s annual financial results. Losses after zakat and tax amounted to SAR 143 million in …
Net profit reached SAR 246 million last year
26 March 12:53 PM Saudi Research and Marketing posts 190% higher profits
Riyadh – Mubasher: The Saudi Research and Marketing Group reported a 190.1% surge in its annual net profit to SAR 246.1 million last year, compared with SAR 84.6 million in 2018. The company attributed the rise in profits to higher revenues, …
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26 March 12:40 PM GACO’s board decides No dividends for 2019
Riyadh – Mubasher: The board of Al Gassim Investment Holding Company (GACO) has decided not to distribute dividends for fiscal year (FY) 2019. The decision is based on the recent financial results, as the company did not achieve profits in 2019, …
Net profit reached SAR 32.88 million in 2019
26 March 12:16 PM Saudi Chemical profits down 71% in 2019
Riyadh – Mubasher: Saudi Chemical Company reported a 71.37% decline in last year’s net profit, as shown by its annual financial results for 2019. Net profit after zakat and tax amounted to SAR 32.88 million in 2019, down from SAR 114.82 million in …
This brings the total dividends for last year to SAR 3.21 billion
26 March 11:21 AM Riyad Bank shareholders approve H2-19 dividends
Riyadh – Mubasher: The ordinary general meeting (OGM) of Riyad Bank has approved the distribution of cash dividends for the second half (H2) of last year. Dividends will be distributed at SAR 0.55 per share, representing 5.5% of share’s par value, …
Kuwait Airways operated a flight to Beirut at 8:55 a.m. local time
25 March 12:00 PM Kuwait charters flights to evacuate citizens from 3 countries
Mubasher: Kuwait's Directorate General of Civil Aviation (DGCA) announced that three chartered flights to Egypt, Lebanon, and Bahrain will take off on Wednesday, 25 March, from the Kuwait International Airport to bring back Kuwaiti citizens. …
Sales rose by 4.8% annually by 2019 year-end
25 March 11:14 AM SACO’s profit shrinks 37% in FY19
Riyadh – Mubasher: The Saudi Company for Hardware (SACO) registered a net profit after tax and zakat worth SAR 61.63 million during 2019, down by 37% from SAR 97.88 million in 2018. Sales rose by 4.8% last year to stand at SAR 1.46 billion from …
SAPTCO recorded a higher share of profits from an associate company
24 March 11:40 AM SAPTCO’s profit advances 48% in FY19
Riyadh – Mubasher: Saudi Public Transport Company (SAPTCO) logged a net profit after zakat and tax worth SAR 33.9 million in the fiscal year (FY) ended on 31 December 2019, compared to SAR 22.9 million, posting a 47.9% annual surge, the company's …
Wafrah will reduce the number of shares to 7.717 million shares
24 March 11:40 AM CMA approves Wafrah's capital cut request
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved the request of Wafrah for Industry & Development Company to cut its capital to SAR 77.17 million from SAR 200 million. Therefore, the company will reduce the number of shares …
Emerson has inked an agreement with SABIC
23 March 03:24 PM SABIC, Emerson sign strategic agreement for automation
Riyadh – Mubasher: Emerson, an international automation technology and engineering NYSE-listed company, has signed a seven-year strategic agreement with Saudi Basic Industries Corporation (SABIC). Under the agreement, in line with Saudi Arabia’s …
The accreditation was obtained after tests and technical visits
23 March 12:14 PM FIPCO unit obtains Saudi Aramco’s accreditation
Riyadh – Mubasher: The Filling and Packing Materials Manufacturing Company (FIPCO) announced that its subsidiary (FPC Industries Co.) has obtained the accreditation of the Saudi Arabian Oil Company (Saudi Aramco) as a technical textile …
The decision aims to support the company’s financial position
23 March 11:53 AM Buruj Cooperative board recommends no dividends for 2019
Riyadh – Mubasher: The board of Buruj Cooperative Insurance Company has recommended not to distribute any dividends for the fiscal year (FY) ended 31 December 2019. The decision aims to support the company’s financial position, according to a …
The new decision will support the company’s operation once the travel halt is lifted
23 March 09:37 AM Jazeera Airways cancels 2019 dividends amid COVID-19 uncertainties
Mubasher: The board of Jazeera Airways has cancelled the proposed cash dividends distribution and recommended not to distribute any dividends for the fiscal year (FY) ended on 31 December 2019 in an attempt to curb the fallout from the coronavirus …
Amin Nasser, President and CEO of Aramco - (Photo Archive)
22 March 01:08 PM Aramco closely monitoring coronavirus situation – CEO
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) is closely monitoring the situation of the coronavirus (COVID 19) outbreak on a daily basis, Saudi Press Agency (SPA) reported. Aramco has developed emergency and prevention plans …
The company wants to maintain liquidity to face impacts of precautionary measures
22 March 11:33 AM Saudi Airlines Catering delays dividends on COVID-19 worries
Riyadh – Mubasher: Saudi Airlines Catering Company (SACC) will postpone distributing the cash dividends for the fourth quarter (Q4) of 2019 to shareholders until further notice. The decision is due to the difficulty in determining how long the …
Company's gas sale contracts not affected by fluctuating oil prices
22 March 09:56 AM Dana Gas operations remain stable despite COVID-19
Abu Dhabi - Mubasher: Dana Gas has confirmed that the coronavirus (COVID-19) outbreak has not impacted its exploration and production operations and facilities in the Kurdistan Region of Iraq (KRI) and Egypt.   Sold under long term gas sale …
Bank's asset quality is strong but affected by borrower concentration risk
19 March 02:50 PM Moody’s affirms Banque Saudi Fransi rating, outlook negative
Riyadh – Mubasher: Moody's Investors Service has affirmed the A1 long-term deposit ratings and P-1 short-term deposit ratings of Banque Saudi Fransi (BSF), and changed the outlook on the bank's long-term deposit ratings to negative from stable. At …