10 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Monday.

1) Alujain Holding Corp. reported a 47% rise in net profit after Zakat and tax to SAR 305 million for 2021.

2) Methanol Chemicals Co. (Chemanol) swung to a net profit after Zakat and tax of SAR 244 million in 2021.

3) Mobile Telecommunication Company Saudi Arabia (Zain KSA) reported a net profit after Zakat and tax of SAR 214 million for 2021, down 18% year-on-year (YoY).

4) Jarir Marketing Co. reported a net profit after Zakat and tax of SAR 992 million for 2021.

5) Saudi Arabian Amiantit Co.’s board of directors raised its previous capital hike recommendation to SAR 346.5 million through a rights issue.

6) The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) entered into a final settlement agreement with the previous Managing Director (MD) and CEO regarding the lawsuit filed against him, with a total amount of SAR 59 million.

7) Mulkia Investment Co., the fund manager and operator of Mulkia Gulf Real Estate REIT Fund, signed an agreement to acquire Al Jadah mixed-use development in Riyadh.

8) Sadr Logistics Co. purchased a land plot in the Industrial Gate City of Riyadh under the supervision of the Saudi Authority for Industrial Cities and Technology Zones (MODON), for SAR 27.192 million.

9) National Petrochemical Co. (Petrochem) changed the accounting treatment of its investments, as it stopped since Q3 2021 the consolidation of the financial statements of investments in joint ventures using the equity method. 

10) Brent crude on Monday gained $1.07 to reach $91.10 per barrel. WTI crude also increased $1.07 to reach $87.8/bbl.