Saudi Arabian construction company Mohammed al-Mojil Group on Saturday called for an emergency general meeting in November to discuss breaking up, saying its losses now exceeded three-quarters of its capital.
External auditors called in by the company also found its liabilities exceeded its assets, leaving shareholders with a deficit of 279.8 million rials ($74.6 million).
In a statement on the Saudi bourse website, MMG said its net losses after the second quarter came to 1.53 billion rials and its net liabilities exceeded its assets by 1.36 billion rials.
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