Arabian Pipes Co.’s accumulated losses fell to SAR 20.9 million as of June 23, 2019 representing 5.25 percent of capital, the company said in a bourse statement.
Last month, the company’s shareholders approved a board recommendation to utilize SAR 39.4 million of statutory reserve and SAR 31.4 million of general reserve to offset accumulated losses as on Dec. 31, 2018, Argaam reported earlier.
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