The Board of Directors of Aseer Company for Trade, Tourism, Industry, Agriculture, Real Estate and Contracting Business decided the voluntary liquidation of 3 wholly owned subsidiaries.
According to Arabiya Net, these companies were previously established for the purposes of their investments and are as follows:
1- The Arabian Fleet Company for Development and Real Estate Development Ltd. (a one-person limited liability company) is 100% owned, with a paid-up capital of 500,000 Saudi riyals.
2- Al-Nusra Global Company for Development and Real Estate Development Ltd. (a one-person company with limited liability) is 100% owned, with a paid-up capital of 500,000 Saudi riyals.
3- Al-Tilal Regional Investment Company (a one-person limited liability company) is 100% owned, with a paid-up capital of 500,000 Saudi riyals.
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and the reasons for the voluntary liquidation are due to the restructuring of the ownership of one of the company's investments, whereby the registered investment in the Arab Fleet for Development and Real Estate Development Company Ltd. and the Al-Nusra Global Development and Real Estate Development Company Ltd. The parent company Aseer and the absence of the need to continue in these two companies.
The reason for the liquidation of Al-Tilal Regional Investment Company is due to the lack of any activity and the lack of need for it.
noting that there is no financial impact resulting from the voluntary liquidation of these companies.
