10 things to consider as Tadawul starts trading

09/04/2018 Argaam
by Nadeshda Zareen

 

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

 

1) The General Authority of Zakat and Tax (GAZT) has asked enterprises whose supplies of goods and services total SAR 40 million or less to file their value-added tax (VAT) returns for Q1 2018 by the end of this month.

 

2) Almarai Company reported a net profit of SAR 344 million for Q1 2018, a 5 percent year-on-year (YoY) increase, which was attributed to improvement in poultry segment and a turnaround in infant nutrition segment.

 

3) Capital Market Authority (CMA) has approved Al Khaleej Training and Education Company's (Al Khaleej Training) request to increase its capital from SAR 400 million to SAR 450 million.

 

4) Al Kathiri Holding board of directors has proposed raising the company's capital to SAR 37.7 million from SAR 31.4 million through distributing 20 percent bonus shares at one bonus share for every five shares held.

 

5) The General Authority for Competition has approved the proposed merger of Al Hammadi Company for Development and Investment (Al Hammadi) and National Medical Care Co. (Care).

 

6) Saudi Basic Industries Corp. (SABIC) plans to boost production capacity 70 percent by 2025, CEO Yousef Al Benyan told Bloomberg in an interview.

 

7) Middle East Healthcare Co. (MEAHCO) has said that the Saudi German Hospital in Dammam was 30 percent complete as of March 31.

 

8) Electrical Industries Company (EIC) signed on April 5 a unilateral optional agreement worth SAR 282 million with the Saudi Electricity Co. to supply electrical equipment.

 

9) Saudi Fransi Capital has declared a 1.6 percent cash dividend for unitholders of Taleem REIT Fund for the first quarter of 2018, at SAR 0.16 per share, amounting to SAR 4.56 million.

 

10) Crude oil prices were positive on Monday. Brent crude was last up 0.4 percent at $67.4/bbl while WTI crude rose 0.4 percent to $62.33/bbl.

 

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com

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