Al-Fakhari Announces Suspension of Dues Until Financial Stability
The Saudi Company for Producing Ceramic Pipes has decided to temporarily suspend the disbursement of dues to the members of the Board of Directors and committees for the fiscal years 2025 and 2026, including the CEO’s salary, until the company's financial situation improves and sufficient cash liquidity is available. The statement clarified that this decision was made due to a deterioration in cash flows caused by delayed collections from clients and project slowdowns, which put pressure on liquidity and the company's ability to meet its financial obligations. The resumption of disbursements will be subject to periodic review by the Board of Directors based on the development of the financial situation, with a focus on maintaining liquidity and supporting the company’s financial stability.
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