02 Jul 2012
(MENAFN) Saudi construction firm Mohammad Al Mojil Group (MMG) inked a USD120 million credit facility to help strengthen its balance sheet, Reuters reported.
The company said in a statement on Saudi Stock Exchange (Tadawul) it will use the cash to support its solvency and fund its projects. The loan will be provided by seven lenders, the statement added.
The announcement came six weeks after MMG appointed PricewaterhouseCoopers to advise it on its financial performance and its CEO quit.
MMG reported 31 percent decline in first quarter profits to USD6 million from a year earlier in 2011.
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more