30 Days
Source:
الاقتصادية
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Dar Al-Murakaba Audit Committee Members Resign
Dar Al Markaba Car Rental Company received the resignation of the Audit Committee members, Khaled Al-Muqbel and Ahmad Al-Saadoon, due to inadequate implementation of governance procedures. The company announced that it will appoint two replacement members in accordance with regulatory procedures, with a commitment to forming the committee with the minimum of three members. The company incurred losses of 6.2 million riyals last year, a 436% increase driven by rising costs and a 20% decline in revenues. It is focusing on restructuring its activities and steering its strategy to achieve higher operational efficiency, including the transfer of some projects and reducing low-margin activities. By the end of 2025, the company’s accumulated losses reached 6.6 million riyals, while its revenues decreased to 53 million riyals. Established in 2013, its largest shareholder is Saleh Al-Zahrani with 44%, and its market value has risen to 60 million riyals.
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