Riyadh – Mubasher: Saudi Arabia-based Abdul Mohsen Al Hokair Group for Tourism and Development Company has renewed a sharia-compliant loan agreement with Bank AlJazira at a value of SAR 100 million on Thursday, 20 September.
The financing period will last for four years, according to Al Hokair Group’s statement on Tuesday to the Saudi Stock Exchange (Tadawul).
Al Hokair Group further noted that the loan, secured through promissory note, will be allocated to finance the operating capital.
Al Hokair Group for Tourism and Development last reported a 79.05% profit decrease, logging SAR 3.1 million during the second quarter of 2018, from SAR 14.8 million in Q2-17.
The Tadawul-listed firm suffered a net loss of SAR 4.4 million during H1-18, against SAR 22.8 million in profits in H1-17.
By 12:23 pm Saudi time, Al Hokair Group’s stock inched down 0.41%, reaching SAR 19.36.
