SIECO’s accumulated losses fall below 10%

Saudi Industrial Export Co. (SIECO) said that its accumulated losses fell to SAR 1.03 million, or 9.5 percent of capital due to the capital cut process.

Last December, Saudi Industrial Export Co.’s (SIECO) general assembly approved a 90 percent capital cut to SAR 10.8 million from SAR 108 million to help offset accumulated losses.