Saudi Cable eyes capital increase to boost production, says chairman

saudi cable eyes capital increase to boost production says chairman

Sumary of Saudi Cable eyes capital increase to boost production, says chairman:

  • Saudi Cable Company has submitted a request to increase capital as it seeks to raise funds to invest in production, Chairman Meyassar Nowailati said today.Production has declined, not due to a lack of contracts, but because of difficulties obtaining financing, he told Al Arabiya.The company needs to restore the confidence of banks following challenges arising from the coronavirus, said Nowailati..
  • he said.The company has extended the maturity of some of its short-term debt and it has no issues with solvency, Nowailti said.“The company debts reached SR1.7 billion ($453 million) in the past, but now the only debt listed in the company figures is around SR250 million, while the rest has been paid,”.
  • he said.The Saudi Cable Company posted a net loss of SR55 million in 2020, compared to a net loss of SR61.8 million in the previous year…

Want to know more click here go to source.

From -
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.