“Saudi Fisheries” approves the use of the fair value or revaluation model to measure real estate

The Saudi Fisheries Company announced the decision of the Board of Directors to use the fair value or revaluation model to measure investment properties

The company said in a statement on “Tadawul Saudi Arabia”, today, Tuesday, that the expected financial impact on net assets will become clear through the re-evaluation process, and the financial impact will be in the results of the second quarter 2023 AD.

She indicated that the use of the new accounting policy does not result in a cash flow within the company