MESC files lawsuit against major client for repayment of dues

19/07/2020 Argaam

 

Middle East Specialized Cables Co. (MESC) filed a lawsuit against one of its major clients, Al Mousa Foundation, on July 19, 2020, before Riyadh Commercial Court, seeking payment of SAR 63.9 million for the supply of various kinds of cables, the company said in a bourse statement on Sunday.

 

The company expects a positive impact on its financials in case it wins the case.

 

However, the exact impact cannot be ascertained at present, the statement noted, adding further developments will be disclosed in due course.

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