Tourism Enterprise Co. (Shams) said that its revenue will be highly affected by the suspension of operations at Palm Beach Resort, in line with the precautionary measures of the Saudi government to curb the COVID-19 outbreak.
The company said in a bourse statement that it is currently difficult to assess the financial impact of the measures, and will be determined at the end of each quarter.
However, Shams stressed that these temporary measures would not affect its business and future plans.
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