Saudi Arabian Amiantit Company announces that is Board of Directors has resolved to use the fair value or to re-evaluate the to measure the real-estate and the investment property.
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Arabian Amiantit Company announces that on 23/05/1443 H Corresponding to 27/12/2021 G its Board of Directors has resolved to use the fair value or to re-evaluate the to measure the real-estate and the investment property. |
As far as the financial impact on the net assets is concerned, it will be surplus by SAR 389.7 million such impact will be effective starting 01/04/2022 G (Signed Auditor Report attached).
The Company would further announce that the use of the new accounting policy would not generate internal cash flow.
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