Halwani gets SAR 409,400 insurance payment on office fire

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02/06/2015 Argaam

Halwani Bros Company said that it was paid SAR 409,400 on June 2 from its insurance company— one of two claims submitted— in compensation for damages after a fire had destroyed some of its offices and computers, the company said in a statement to the Saudi bourse, Tadawul.

 

The financial impact of the compensation will be reflected in second quarter results, it added.

 

The other SAR 1.8 million claim has not yet been paid.

 

Argaam reported in September on a limited fire that had erupted at the company’s headquarters in Jeddah.

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