Fitaihi Holding Group announces the Impact of the Latest Government Initiatives and Decisions Released to Mitigate and Control the impact of Coronavirus Outbreak (COVID-19)
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| Announcement Detail | In reference to the initiatives and the additional decisions of the government of the Kingdom of Saudi Arabia regarding mitigating the negative impact of Coronavirus pandemic on private sector companies, Fitaihi Holding Group announces that the company is complying with the latest released decisions by the relevant authorities. The company would like to indicate that the operations will be affected by these government decisions especially that related to the temporary closure of shopping malls and retail showrooms until further notice. As for the Royal decrees and the other government initiatives which have been released recently, to support the private sector companies to limit the impact of the precautionary actions taken, the company is not yet able to calculate the financial impact of support packages which the company will be entitled for. The company is working with the relevant authorities to finalize the mechanism, eligibility employees to benefit from these initiatives and estimate the support value. Due to the uncertainty about the Coronavirus pandemic period and the duration of released government measures, the company cannot currently determine its full financial impact. Any material development will be announced in due course if needed. |
