AlBaha Announces Complete Elimination of Accumulated Losses

AlBaha Investment and Development Company revealed on Tuesday, December 24, that it has successfully reduced its accumulated losses to 0% of its capital.

The company stated that the accumulated losses, totaling SAR 78,705,000, were offset through a capital reduction, a move approved during the Extraordinary General Assembly Meeting on December 19, 2024. This decision involved reducing the company’s capital from SAR 297,000,000 to SAR 218,295,000.

Following the capital reduction, the company reported retained earnings amounting to SAR 913,564 as of December 19, 2024.

This announcement aligns with the company’s earlier disclosure on Tadawul, dated December 22, 2024, regarding the General Assembly’s approval of the capital reduction during its third session.