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FINANCIAL NEWS
Saudi Electricity to receive USD719m from debt repayment
07 Jul 2014
(MENAFN) Saudi Electricity Co (SEC) is expected to gain as much as USD719.9 million in a debt repayment from major customers, according to Arabian Business.
A bourse statement said that the debt was previously recorded as provisions against receivables outstanding and the payment will have a significant impact on earnings.
SEC did not clarify in which quarter the payment will be reflected but it obtained approval from relevant authorities for it on July 3.
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