Service Equipment announces related-party transactions exceeding 1% of total revenues

25/12/2025 Argaam- Nomu
Service Equipment disclosed commercial transactions with Omar Abubakr Balubaid Co. covering equipment procurement, rentals, and reimbursed expenses.

Service Equipment disclosed commercial transactions with Omar Abubakr Balubaid Co. covering equipment procurement, rentals, and reimbursed expenses.

Service Equipment Co. announced that its existing transactions with Omar Abubakr Balubaid Co Ltd, a related party (major shareholder), exceeded 1% of the company’s total revenues, according to the latest audited annual financial statements.
 

In a statement on Tadawul, the company said the transactions include commercial dealings involving the purchase of equipment, rentals, and expenses paid on behalf of the related party.

 

The company added that these transactions were conducted in the ordinary course of business, in line with prevailing commercial terms and without any preferential conditions.

 

It noted that the disclosure is in line with relevant rules and reaffirms the company’s commitment to ensure transparency.

 

According to Argaam data, Service Equipment recorded revenues of SAR 57.44 million in 2024.

 

Omar Abubakr Balubaid Co. owns 8.40% of the company’s total shares.

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