Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Al Alamiya for Cooperative Insurance Co. reported a net profit before Zakat of SAR 400,000 for the first quarter of 2021, a 66% decline year-on-year (YoY).
2) Batic Investments and Logistics Co. widened net losses after Zakat and tax to SAR 3.8 million in Q1 2021,
3) Allied Cooperative Insurance Group (ACIG) reported a net profit of SAR 2.1 million for the first quarter of 2021, a 4.9% decline YoY.
4) Sahara International Petrochemical Co. (Sipchem) announced the temporary shutdown of its affiliate, Sahara and Maaden Petrochemicals Co. (SAMAPCO), for 27 days starting from May 23, 2021.
5) Shareholders of Saudi Automotive Services Co. (SASCO) will vote on June 16, 2021, on the board of directors’ recommendation on distributing additional cash dividends to shareholders for 2020 at 2% of capital, or SAR 0.2.
6) Tihama Advertising, Public Relations and Marketing Co. is in the process of appointing a lawyer to express an opinion on the merits of the liability lawsuit and on the possibility of re-adjusting the violations committed by some members of the former board of directors.
7) Brent crude on Monday gained 27 cents to reach $68.98 per barrel. WTI crude also increased 28 cents to reach $65.65/bbl.
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