Kuwait-Mubasher: Educational Holding Group has issued update on the value of losses, earlier reported at KWD 380,000 ($1.25 million), stemmed from exiting Saudi Arabia’s Advanced Educational Company.
A loss worth about KWD 280,700 ($922,200) will be registered in the financial statements of the first quarter of FY15/16, the group said in its updated filing.
Earlier, Educational Holding Group said it sold its entire stake in Advanced Educational, a subsidiary in Saudi Arabia, for SAR 129.97 million or KWD 10.48 million ($34.5 million).
