Mubasher: Al Madar Finance and Investment is currently in negotiations with one of its debtors to settle a lawsuit filed against the company with a claim of KWD 16.99 million ($56.43 million), according to a bourse statement on Sunday.
The company noted that no financial impact will reflect on Al Madar’s position in the current period, but the company will disclose the financial impact once the debt is settled.
It is noteworthy that in FY17, Al Madar recorded a decrease of 58.2% in losses to KWD 2.18 million compared to KWD 5.22 million in FY16.
