BATIC Investment & Logistics Co. on Tuesday said it has completed all regulatory procedures at the ministry of commerce & investment to convert two subsidiaries into fully-owned limited liability companies (LLC).
The first is the Saudi Transport and investment Co. (Mubarrad) which specializes in overland cargo in addition to focusing on future projects in logistics and warehousing, the company said in a statement on Tadawul.
The second, BATIC Real Estate Co., will provide building facilities for other subsidiaries and will also work on warehouse projects to support the integrated logistics system that BATIC seeks to achieve.
Mubarrad and BATIC Real Estate have a total capital of SAR 100,000 each financed in full from the company’s internal resources. The financial impact is expected to be reflected on financials of Q1 2018, the statement added.
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