Aseer seeks new investment opportunities; aims to improve performance, overcome losses: MD

Logo of Aseer Trading, Tourism and Manufacturing Co.

Aseer Trading, Tourism and Manufacturing Co. is looking for investment opportunities in new sectors, in addition to its focus on the health services, logistics and food industries, Managing Director (MD) Abdullah Al Howaish told Argaam in a telephone interview.

Aseer is always reviewing its strategies and investment plans to aggrandize shareholders’ equity, Al Howaish affirmed.

Commenting on the company’s accumulated losses, Al Howaish described these losses as temporary, as some subsidiaries were hit by various factors, adding that Aseer is working on improving its performance and overcoming losses in the coming period.

Elsewhere, the MD said that the northern Riyadh’s land lawsuit is still at court, noting that the company’s lawyers believe in its strong position in the claim.

Replying to a question about Aseer’s plans to list Al Rabie Saudi Foods Co. Ltd on the Saudi market, Al Howaish said: “The company aims through coordination with its partners in the subsidiary to improve the performance of those firms and enhance their governance, in order to be ready for going public when market conditions are favorable.”

The company trimmed its net loss after Zakat and tax to SAR 28.7 million for the first nine months of 2021, from SAR 32.8 million in the year-earlier period, Argaam reported.