SASCO reclassifies held securities to 'available-for-sale'

29/12/2014 ِArgaam

Saudi Automotive Services Co. (SASCO) said on Monday that it reclassified some

​of the company's ​

securities held-for-trading to available-for-sale due to the change in their holding duration.


The securities were included in an equity portfolio managed by NCB Capital, the company said in a statement to the Saudi Bourse, Tadawul.

The portfolio will be revaluated at the end of each financial period with any unrealized gains or losses to be reflected on shareholders’ equity section in the balance sheet of that period.

SASCO signed an agreement in September with NCB Capital to manage its new SAR 50 million equity portfolio, according to data compiled by Argaam.

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