SASCO to receive SAR 7.8 mln from Saudi finance ministry

23/12/2014 Argaam

Saudi Automotive Services Company (SASCO) said on Tuesday it received a letter from Saudi Arabia’s Ministry of Finance for the approval of its SAR 7.8 million compensation amount.

The compensation is related to the ministry canceling a land rental contract with SASCO in August, according to data compiled by Argaam.

The company said in a filing to Tadawul that it will have acquired a capital gain of SAR 1.8 million after receiving the compensation, which will be reflected in Q4-2014 financial results.

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