Middle East Specialized Cables Co (2370)

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News

7 July 2025 03:00 AM MESC Cable names new Chairman, Vice Chairman

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) appointed Yahya Ibrahim Al Qunaibit as the board’s Chairman for the next four years.Mohammed Abdulaziz Al Namlah was named as the Vice Chairman, according to a bourse filing.The two off

Board of Directors

24 April 2025 11:53 AM MESC obtains SAR 140m loan from Riyad Bank

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) penned a Sharia-compliant facility deal worth SAR 140 million with Riyad Bank on 23 April 2025. The loan is secured by promissory notes valued at SAR 148 million and assignment of …

Banking and Finance

22 September 2024 11:28 AM MESC inks SAR 100m financing agreement with Alinma Bank

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) secured a Sharia-compliant facility agreement valued at SAR 100 million with Alinma Bank on 19 September 2024. MESC will utilise the loan to finance its working capital and issue …

Companies Investments

2 June 2024 11:17 AM Saudi MESC awarded $60m joint project in UAE

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) announced that its subsidiary won a contract with a joint venture (JV)comprising the National Petroleum Company (NPCC) and SAIPEM in the UAE. MESC - Ras AlKhaimah UAE will supply a …

Companies Investments

29 April 2024 02:09 PM Al Rajhi Bank unveils 6% higher profits in Q1-24, facility deal with MESC

Riyadh – Mubasher: Al Rajhi Bank registered SAR 4.40 billion in net profit during the first quarter (Q1) of 2024, higher by 6.27% than SAR 4.14 billion in Q1-23. The clients’ deposits stood at SAR 603.97 billion as of 31 March 2024, an annual rise …

Financial Results

5 November 2023 02:47 PM Saudi MESC turns profitable at over SAR 38m in 9M-23; accumulated losses unveiled

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) swung to net profits after Zakat and tax of SAR 38.40 million in the first nine months (9M) of 2023, compared with a net loss of SAR 11.50 million in 9M-22. Earnings per share (EPS) …

Financial Results

4 July 2022 06:03 PM Saudi MESC appoints new Chairman, Vice Chairman

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) has named Yahiya Ibrahim Al Qunaibit as the new Chairman of the board for the next three years. Moreover, the listed firm appointed Saad Amash Al Shammari as the Vice Chairman, …

Management Decisions

5 April 2022 05:07 PM Saudi MESC appoints new CEO

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) has appointed Fadhil Fawzan Alsaadi as the new CEO of the company. Alsaadi has officially assumed the position on 5 April this year, according to a bourse disclosure on Tuesday. The …

Corporate Actions

3 November 2021 05:45 PM Saudi MESC turns to losses in Q3, nine months

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) suffered a net loss after Zakat and tax worth SAR 9.1 million during the third quarter (Q3) of 2021, versus profits of SAR 4.3 million in Q3-20. Revenues inched down 0.14% to SAR …

Financial Results

29 September 2021 03:58 PM Middle East Specialized Cables' CEO resigns

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) has announced the resignation of Fawwaz Mubarak Almugbel from his position as group CEO, effective from 2 December 2021. Almugbel will resign from MESC due to his personal …

Management Decisions

5 September 2021 00:19 PM MESC turns profitable in H1-21; accumulated losses hit SAR 64m

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) achieved net profits after Zakat and tax worth SAR 3.5 million during the first half (H1) of 2021, against losses of SAR 1.2 million in H1-20. The earnings per share stood at SAR …

Financial Results

23 August 2021 11:23 AM Tadawul halts trading on Al Sagr Cooperative Insurance, MESC

Riyadh – Mubasher: The Saudi Exchange (Tadawul) has suspended trading on the shares of Al Sagr Cooperative Insurance Co. and Middle East Specialized Cables Co. (MESC) for one trading session on Monday, 23 August, for not disclosing their financial …

Trading Activities

22 February 2021 09:26 AM Amman Court requests executive seizure of MESC Jordan’s funds

Riyadh – Mubasher: The Middle East Specialised Cables Company (MESC) said a procedural request was issued by the Amman Court of First Instance to convert the precautionary seizure into an executive seizure of the funds belonging to the convicted …

Corporate Actions

2 February 2021 04:03 PM MESC obtains SAR 50m loan from SIDF

Riyadh – Mubasher: The Middle East Specialised Cables Company (MESC) announced the signing of a financing agreement with the Saudi Industrial Development Fund (SIDF), the operating arm of the Saudi EXIM Bank. Valued at SAR 50 million, the two-year …

Banking and Finance

24 December 2020 00:36 PM MESC appoints new chairman, vice-chairman

Riyadh – Mubasher: The board of Middle East Specialised Cables Company (MESC) has named Yahya bin Ibrahim Al Qinaibit the company's Chairman starting on 1 January 2021. The board has also appointed Saad Ammash Saad Al Shammari as a Vice-Chairman, …

Board of Directors

29 June 2020 04:58 PM MESC inks SAR 50m deal with Saudi finance ministry

Riyadh – Mubasher: The Middle East Specialised Cables Company (MESC) has signed a financing contract worth SAR 50 million with the Saudi Ministry of Finance (MoF) to finance the company’s working capital. The financing period extends over 270 …

Banking and Finance

30 October 2019 07:14 PM MESC’s loss drops over 97% YoY in Q3-19

Riyadh – Mubasher: Middle East Specialised Cables Company (MESC) has reported a 97.62% year-on-year loss decline during the third quarter of 2019. The company’s loss dropped to SAR 200,000 in Q3-19, compared to SAR 8.4 million in the year-ago …

Financial Results

30 October 2019 01:02 PM MESC amends debt-restructuring deal with banks

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) has amended today a debt-rescheduling agreement with a consortium of banks. Those banks are Saudi British Bank (SABB), Arab National Bank (ANB), Banque Saudi Fransi (BSF), and Riyad …

Banking and Finance

19 August 2019 05:21 PM MESC cuts Q1 losses by 76%

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) disclosed its interim financial results for the second quarter of 2019. Net losses after zakat and tax fell by 76.28% to SAR 6 million in Q2-19, compared to SAR 25.3 million in …

Company News

3 July 2019 10:49 AM MESC names new chairman, vice chairman

Riyadh – Mubasher: The general assembly of Middle East Specialized Cables Company (MESC) has agreed on electing a new board of directors for the coming three years during a meeting held on Tuesday, 2 June. The general assembly has appointed Abdul …

Company News

2 December 2018 00:13 PM MESC inks debt-restructuring deal with 6-bank consortium

The company works on restructuring total debts of SAR 268.9 million

Global Markets brief

5 November 2018 10:54 AM MESC OKs 33% capital cut to offset losses

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) on Monday announced that its extraordinary general meeting (EGM) haD approved reducing its capital in a bid to offset accumulated losses. The company will cut its capital by 33.3% to …

Corporate Actions

9 May 2017 03:48 PM MESC turns profitable in Q1

Riyadh – Mubasher: Middle East Specialized Cables (MESC) turned to profits in the first quarter of 2017. Net profits amounted to SAR 3.86 million in Q1-17, against net losses of SAR 5.08 million in Q1-16, according to a bourse filing on Tuesday. …

Financial Results

19 April 2017 05:46 PM MESC’s accumulated losses reach SAR 175m

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) announced that its accumulated losses reached SAR 175 million, representing 29% of capital. The company attributed the losses to its stake in the losses of its Jordon’s subsidiary …

Companies Investments