Riyadh – Mubasher: Saudi Arabia-based Abdullah Abdul Mohsen Al Khodari Sons Company signed an agreement with Abdullah A. Al Khodari Sons Investment Holding Co. to reschedule its SAR 135 million Islamic loan.
After rescheduling, the repayment period amounts to 60 days, according to a statement to the Saudi Stock Exchange (Tadawul).
Obtained through a promissory note, the credit facility’s restructure aims to improve Al Khodari’s cash flows.
Al Khodari’s losses increased by 241% year-on-year to SAR 25.96 million after calculating Zakat and Tax in Q3-18, versus SAR 7.62 million.
During the first nine months of 2018, the company incurred SAR 24.054 million in net losses after zakat and taxes, marking a decrease of 35.33% from SAR 37.199 million in the same period of 2017.
