Thimaar accumulated losses reached 54.8% of capital

Thimar Development Holding Company announced on Tuesday that its accumulated losses amounted to 54.82% from the capital of SR100,000,000, based on the audited financial statement as on 31December 2019.

The company said that the amount of accumulated losses amounted to SR54.8 million, as a result of forming an allowance for expected credit losses, and losses of excluding projects in progress.

The procedures and instructions for companies listed in the Saudi stock market, whose accumulated losses amounted to 20% or more of their capital, will be applied.