Amiantit Uses Fair Value or Re-Evaluating To Measure Real-Estate and Investment Property

Saudi Arabian Amiantit Company announced on Tuesday that its Board of Directors has resolved to use the fair value or re-evaluating to measure the real-estate and the investment property on 27/12/2021.

The company added that as far as the financial impact on the net assets is concerned, it will be surplus by SR 389.7 million and such impact will be effective starting 01/04/2022.

The Company indicated that the use of the new accounting policy would not generate internal cash flow.