Saudi Industrial Export Co (4140)

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News

26 August 03:00 AM Saudi Sadirat to close UAE branch over economic infeasibility

Riyadh - Mubasher: Saudi Industrial Export Company (Sadirat) received the board’s approval, on 25 August, to close its branch in the UAE due to economic infeasibility.This decision came as part of Sadirat’s plans to reduce general and administrative

Companies Investments

17 June 03:00 AM Sadirat appoints new Chairman, Vice Chairman

Riyadh - Mubasher: Saudi Industrial Export Company (SIEC), known as Sadirat, announced key appointments during its first board meeting of 2025, held on 16 June.The company named Hatem Ali Talib Barajjash as Chairman of the Board, according to a bours

Management Decisions

27 November 2024 04:47 PM Sadirat eyes acquisition of Entaj Industrial’s subsidiary

Riyadh – Mubasher: Saudi Industrial Export Company (SIEC), known as Sadirat,  has signed a non-binding memorandum of understanding (MoU) with Entaj Industrial Services Company to consider either equity acquisition or a takeover of the entire …

Mergers and Acquisitions

15 November 2023 07:19 PM SIEC reports lower net losses in 9M-23; accumulated losses near 24% of capital

Riyadh – Mubasher: Saudi Industrial Export Company (SIEC) incurred net losses after Zakat and tax of SAR 10.98 million in the first nine months (9M) of 2023, marking a 39.47% year-on-year (YoY) decline from SAR 18.14 million. The loss per share …

Financial Results

14 June 2023 00:34 PM SIEC’s board mulls nominal value split

Riyadh – Mubasher: The board members of Saudi Industrial Export Company (SIEC) proposed, on 13 June, to split the nominal value of the share to SAR 0.50 from SAR 10 per share. The number of shares after the nominal value split transaction will …

Corporate Actions

21 June 2022 05:01 PM SIEC appoints new Chairman, Vice Chairman

Riyadh - Mubasher: Saudi Industrial Export Company (SIEC) has named Hatem Hamad Al Suhaibani as the new Chairman of the board for the coming three years. Moreover, SIEC appointed Ahmed Mohammed Al Arini as the Vice Chairman, according to a bourse …

Board of Directors

6 June 2022 04:22 PM SIEC cuts accumulated losses to 11%

Riyadh - Mubasher: Saudi Industrial Export Company (SIEC) has decreased its accumulated losses to SAR 20.68 million, representing 10.64% of the capital. This step was made after the company had increased its capital to raise the financial solvency …

Companies Investments

5 June 2022 04:52 PM SIEC's rights issue 89% covered

Riyadh - Mubasher: Saudi Industrial Export Company (SIEC) has recorded an 89.34% coverage rate of its right issues and subscription. A total of 15.43 out of 17.28 million shares were subscribed at a total value of SAR 154.38 million, according to …

Companies Investments

12 May 2022 04:12 PM SIEC's shareholders approve 800% capital hike

Riyadh - Mubasher: The shareholders of Saudi Industrial Export Company (SIEC) have agreed to increase its capital by SAR 172.80 million, representing 800% of the capital. The Saudi listed company will offer eight right issues for each share, …

General Assembly

16 February 2022 07:39 PM SIEC's shareholders approve 67% capital cut

Riyadh - Mubasher: The shareholders of Saudi Industrial Export Company (SIEC) approved the board’s recommendation to reduce the capital to SAR 21.60 million by cancelling 4.32 million shares, representing 66.66% of the capital.  The new capital …

Corporate Actions

27 December 2021 02:17 PM SIEC amends capital increase decision

Riyadh - Mubasher: The board of the Saudi Industrial Export Company (SIEC) announced a new value of amending the capital through a 66.66% reduction which will be followed by an increase of 800%, according to a bourse filing on Monday. SIEC will …

Corporate Actions

22 August 2021 01:02 PM SIEC's losses down 60% in H1-21

Riyadh – Mubasher: The net losses after zakat and tax of Saudi Industrial Export Company (SIEC) plunged by 60.1% to SAR 4.52 million during the first half (H1) of 2021, compared to SAR 11.33 million in the corresponding half of 2020. The company …

Financial Results

29 June 2021 10:01 AM SIEC turns to loss exceeding SAR 2m in Q1

Riyadh – Mubasher: Saudi Industrial Export Company (SIEC) incurred net losses after Zakat and tax worth SAR 2.64 million during the first quarter (Q1) of 2021, against net profits of SAR 22,000 in Q1-20. Loss per share stood at SAR 0.41 in Q1-21, …

Financial Results

29 April 2021 10:42 AM SIEC reports 51% plunge in net losses during 2020

Riyadh – Mubasher: Saudi Industrial Export Company (SIEC) posted net losses after Zakat and tax worth SAR 12.82 million in 2020, according to a disclosure to Tadawul on Thursday. This marked a year-on-year (YoY) decline of 50.71% compared with SAR …

Financial Results

8 March 2021 10:44 AM SIEC to close its branch in Jordan

Riyadh – Mubasher: The Saudi Industrial Exports Company (SIEC) will close its branch in Jordan due to its weak financial performance and to reduce the general and administrative expenses. The financial impact will be disclosed at the end of 2021, …

Companies Investments

3 January 2021 09:46 AM ACIG, SIEC submit capital raise requests to CMA

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) submitted a request to the Capital Market Authority (CMA) for a SAR 150 million capital raise via a rights issue, according to a bourse disclosure on Sunday.  ACIG wants to increase its …

Companies Investments

11 November 2020 04:04 PM SIEC turns to losses in Q3

Riyadh – Mubasher: The Saudi Industrial Export Company (SIEC) moved to losses of SAR 1.26 million during the third quarter (Q3) of 2020, compared with profits of SAR 1.98 million in the year-ago quarter. The turn to loss was driven by a decline in …

Financial Results

10 November 2020 10:19 AM SIEC board recommends SAR 129m capital increase

Riyadh – Mubasher: The Saudi Industrial Export Company’s (SIEC) Board of Directors on 9 November 2020 proposed increasing the company’s capital by SAR 129.6 million via a rights issue. The capital raise will support the company’s future expansion …

Management Decisions

21 October 2020 09:42 AM SIEC pens Saudi companies’ representation project in Iraq deal for SAR 14.4m

Riyadh – Mubasher: The Saudi Industrial Export Company (SIEC) signed on Tuesday, 20 October, the Saudi companies’ representation project in Iraq contract with the Saudi Export Development Authority (Saudi Exports). Under the SAR 14.4 million deal, …

Companies Investments

4 October 2020 10:37 AM SIEC exits SAR 4m stake in Warehousing and Logistics Services

Riyadh – Mubasher: The Saudi Industrial Export Company (SIEC) has sold its 3.846% stake in Warehousing and Logistics Services Co for SAR 4 million, or SAR 4 per share. The investment cost in the logistic service provider amounts to SAR 11 million. …

Mergers and Acquisitions

1 October 2020 10:38 AM SIEC awarded SAR 14.4m Saudi companies’ representation project in Iraq

Riyadh – Mubasher: The Saudi Industrial Export Company (SIEC) has received a letter from the Saudi Export Development Authority (Saudi Exports) awarding it the Saudi companies’ representation project in Iraq. Under the project, which is valued at …

Macroeconomics

25 August 2020 10:49 AM SIEC losses deepen 250% in Q2

Riyadh – Mubasher: The Saudi Industrial Exports Company (SIEC) witnessed a 250.3% yearly surge in losses during the second quarter (Q2) of the year, the firm’s interim financial statements showed. The losses rose to SAR 11.49 million in Q2-20, …

Financial Results

21 June 2020 00:49 PM SIEC turns profitable in Q1-20

Riyadh – Mubasher: The Saudi Industrial Exports Company (SIEC) turned to profitability in the first quarter (Q1) of 2020, recording a net profit of SAR 200,000, versus net losses of SAR 8.5 million in the same period a year ago, as shown in the …

Financial Results