9 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.

1) United Wire Factories Co. (Aslak) reported a net profit after zakat and tax of SAR 22.1 million for fiscal year 2019, up by more than three-fold year-on-year (YoY).

2) Saudi Cement Co. purchased the stake of Esterad Investment Co. in Bahrain’s United Cement Co. for BHD 2.3 million (SAR 23 million).

3) MEFIC REIT Fund posted SAR 752.25 million net asset value (NAV) for the fourth quarter of 2019.

4) Aslak’s board of directors recommended a 20% capital cut to SAR 351 million from SAR 438.75 million due to a capital surplus.

5) Alujain Corp. invited its shareholders to attend the general assembly meeting that will be held on Feb. 4, 2020, to vote on amending articles 2 & 3 of the company’s bylaws related to its name and objectives.

6) Saudi Cable Co. signed a debt-restructuring agreement with the Saudi Industrial Development Fund (SIDF) for a total value of SAR 107.29 million.

7) Amana Cooperative Insurance Co. renewed its contract with El Seif Engineering Contracting for 1 year as of Jan. 15, 2020.

8) Emaar the Economic City (Emaar EC) received the approval from the Ministry of Finance to postpone the payment of the first installment of a SAR 5 billion loan it secured in 2011 for a period of 7 months.

9) Brent crude on Wednesday declined 15 cents to reach $64.34 per barrel whereas WTI Crude decreased 17 cents to reach $58.06/bbl.