Saudi Pharmaceutical Industries and Medical Appliances Co. (SPIMACO) said in a bourse statement that a local associate has launched legal and financial investigations into forged client documents.
SPIMACO is likely to incur a loss of SAR 27 million for fiscal year 2017.
The financial impact on SPIMACO will be fully estimated for 2017 or 2018, if any, upon completion of investigations, the statement added.
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