Kuwait-Mubasher: Ikarus Petroleum Industries has made an early repayment of KWD 13.4 million as part of its debts due to a local bank, according to a recent statement.
The financial impact will be a decrease in long-term and short-term liabilities by KWD 10.65 million and KWD 2.75 million respectively. The impact will reflect on the company’s Q1-16 financials.
Ikarus clarified that the overall repayments reached KWD 17.2 million since the beginning of 2016. Thus, the company’s debts will be decrease to KWD 14.8 million from KWD 32 million.
