Friday 14 August 2020

Arabtec to use $272m reserves to wipe out losses

ABU DHABI, June 1, 2016

A meeting of shareholders in Dubai-listed construction firm Arabtec Holding approved on Wednesday a plan to use Dh1 billion ($272 million) of the company's statutory reserves to wipe out some of its accumulated losses.

They also approved the appointment of two new members - Tariq Al-Masood and Ghannam Al-Mazrouei - to an expanded seven-person board. Reuters

Tags: Arabtec | reserves | Losses |

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