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Saudi parallel market-listed Al Ashghal Al Moysra refinanced and increased shariah-compliant credit facilities from the Saudi National Bank (SNB) to 8 million riyals ($2.1 million) for three years.
The facilities management firm intends to use the funds to secure letters of guarantee worth 5 million riyals, while earmarking 2 million for the acquisition of capital assets and an additional 1 million for financing vendor purchases.
The Sakaka-based outfit reported a 54% decrease in net profit at 5 million riyals in 2025, which the company attributed to its strategy to focus on core businesses and divest contracting services.
The company’s share price is down 27% YTD.
(Writing by Ahmad Mousa; editing by Seban Scaria)
