SAIC says coronavirus measures may weigh on revenues

13/04/2020 Argaam

 

Saudi Advanced Industries Co. (SAIC) said the Kingdom's precautionary measures to curb the COVID-19 outbreak may impact its revenue, financial statements and subsidiaries over the coming period.

 

However, it is difficult to determine the relevant financial impact at present, the company said in a bourse statement.

 

SAIC also indicated that it cannot it define whether its subsidiaries are eligible to the government's support packages provided to the private sector or not, and hence the related financial impact cannot be assessed at present.

 

Any updates will be announced in due course, the statement added.

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