AlBaha Investment narrows accumulated losses to SAR 35 mln

AlBaha Investment and Development Co. accumulated losses have dropped below 20 percent to SAR 35.36 million as on September 30, 2018, representing 19.98 percent of capital, mainly due to realizing gain on its activities, it said in a statement to Tadawul .

In July, the company’s accumulated losses stood at SAR 40.3 million as on July 25, 2018, representing 22.76 percent of capital due to incurring SAR 16.8 million in non-recurring Zakat expenses for 2000-2010, Argaam reported earlier.