Namaa Chemicals: 5 Hurdles to Publishing Recent Results
Namaa Chemicals Company explained that the delay in publishing the results for the fourth quarter of the previous year and the first and second quarters of this year is linked to five main reasons. These include completing procedures to inject 200 million Riyals from Fad Al-Oula Industrial Company, reducing its stake in Janna Company, and obtaining approvals from the Industrial Development Fund for restructuring loans and the required working capital financing of 140 million Riyals. Additionally, the process of publishing the results was affected by asset valuation assessments, future outlooks, and the 2026 plan, as well as the disconnection of electricity from a subsidiary due to unpaid dues. These factors have significantly impacted the financial position and cash flows, leading the company to cease issuing financial statements on time. The company is currently working with its external auditor to complete the necessary procedures.
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