Saudi Fisheries board to revaluate real estate investments at fair value

27/12/2022 Argaam

Saudi Fisheries board to revaluate real estate investments at fair value

Saudi Fisheries Co. (Alasmak)

Saudi Fisheries Co.’s (Alasmak) board of directors decided ‎to use the fair value or revaluation model to measure its real estate investment properties, according to a statement on Tadawul today, Dec. 27.

 

The projected fiscal impact on net assets will be shown through ‎the revaluation process. It will appear on financial statements of Q2 2023, the statement added.

 

The company also indicated that the use of the new accounting policy will not ‎result in a cash inflow.‎

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