Published: Sep 22, 2014
Source: Tadawul

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Saudi Automotive Services Company (SASCO) announces signing of portfolio management agreement

Saudi Automotive Services Company (SASCO) announces that on Monday 22 September 2014 has completed signing of portfolio management agreement with NCB Capital, this agreement aiming to diversify resources of investments and revenues for the company according to the regulations of the Capital Market Authority (CMA), taking into consideration that the financing of such activities are provided from self-financing. Note that the amount allocated for this agreement is 50 million SR.

The company would like to declare that such investment activity will be treated according to stock investment standards which will be registered in the financial statement as per its fair value, the unrealized profits and losses which will be recognized within the financial period, The financial impact will be reflected on the income statement at the start of the investment at the end of each financial period. 

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