Alkhaleej Training sets up subsidiary firm with SAR 50 mln capital

01/09/2022 Argaam

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. completed the procedures for establishing Advanced Systems and Solutions for Communications Co. – a fully owned company with capital of SAR 50 million.

 

The new closed joint stock company was set up under Commercial Registration No. 1010369937 issued by the Commercial Registry Office in Riyadh on Aug. 31, 2022, with the head office to be in Riyadh, Alkhaleej Training said in a bourse statement.

 

A separate bank account was opened for the company and the value of capital was deposited in the account, the statement added.

 

In October 2021, Alkhaleej Training’s board of directors approved the spin-off of Al Khaleej Group Smart Link Contact Centers and BPO Solutions to act as an independent unit after obtaining the necessary approvals of the competent authorities, according to data available on Argaam.

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