AYYAN Investment cancels license of Saudi Japanese Textile Manufacturing

27/07/2020 Argaam

AYYAN Investment Co. completed the cancellation of the license of its subsidiary, Saudi Japanese Textile Manufacturing Co. (SJTC), after obtaining the regulatory approvals, it said in a bourse filing today.

 

The company clarified that SJTC will be excluded from the consolidated financial results as of Q3 2020, estimating a positive impact.

 

The Saudi-listed firm expected realizing a profit from discontinued operations of about SAR 3 million in Q3 2020, as a result of the company’s liquidation.

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