Saudi Arabia-based Taya Holding has opted to waive SAR 16.8 million ($4.5 million) in debt incurred by its majority-owned firm, Mayar Holding following accumulated losses that have exceeded 50% of the corporate capital.

Mayar Holding’s accumulated losses as of December 2025 reached SAR 41.5 million, representing 69.2% of the company’s SAR 60 million capital.

Following a board recommendation, Taya Holding issued an unconditional waiver of a portion of payable balances owed to it by Mayar, a move that will bring down the losses to SAR 24.73 million and the loss percentage to 41.2% of the capital.

Taya Holding owns 83.14% of Mayar Holding. 

Mayar Holding is now finalising the regulatory requirements to hold an Extraordinary General Assembly where shareholders will vote to approve the continuation of the company’s operations rather than dissolve, given the improved balance sheet following the waiver.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com